TASHKENT, Uzbekistan, September 12. The official reserve assets of Uzbekistan amounted to $32.6 billion as of September 1, having significantly decreased by $958.4 million in August, Trend reports.
This is the fifth month in a row that Uzbek reserves have been shrinking; since the beginning of 2023, they have decreased by approximately $3 billion. This figure has become a record for the entire period of statistics since 2013, a similar record was set last month.
As per data provided by Uzbekistan’s Central Bank, reserve assets of Uzbekistan amounted to $33.6 billion in August, having decreased by $71.8 million in July.
The value of the gold reserve slightly increased by $400,000, amounting to $23.4 billion.
Nevertheless, the physical volume of gold increased by 0.3 million troy ounces (9.3 tons) and amounted to 12.1 million troy ounces (approximately 378 tons). The increase may be associated with a fall in prices on the world precious metal market, which lasted until August 21, when the price dropped to $1,910 per troy ounce. Due to unfavorable market conditions, Central Bank of Uzbekistan could suspend the sale of gold abroad.
In total, in a month foreign currency reserves decreased by $1.9 billion and amounted to $8.7 billion as of September 1, 2023.