Gold and foreign currency reserves of Uzbekistan decrease by almost $2 bln in one month
Gold and foreign currency reserves of Uzbekistan decreased by almost $2 bln in one month
The gold and foreign currency reserves of the country reached $33.9 bln, $1.9 bln less than in January.
In February, the physical volume of gold increased from 12.4 mln troy ounces to 12.6 mln troy ounces. Additionally, the total value of gold reached $22,839 mln, with a price of $717 per ounce.
Furthermore, the foreign currency reserves, including foreign exchange reserves, decreased from $11.3 bln in January to $10 bln.
According to the regulator's statement, "Uzbekistan's total international reserves decreased by $1.8 bln or 5% from the beginning of the year. This was influenced by the decrease in the price of gold from $1812.35 to $1810, the decrease in the balance of commercial banks' accounts at the Central Bank, and currency interventions carried out by the Central Bank."
In January, the Central Bank of Uzbekistan became a leading exporter among the world's central banks, exporting 12 tons of gold.
This export figure is significantly higher than the figure for November and constitutes almost half of the total sales in the first quarter of 2022.
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