Uzbekistan’s gold and FX reserves as of December 1 amounted to $32.89bn, very slightly edging down from $32.90bn a month earlier, according to central bank figures.
Hard currency assets stood at $8.61bn, one of the lowest figures recorded in the data series. November saw the assets increase by $237.9mn. However, for seven consecutive months they have totalled less than $10bn.
The gold reserves decreased slightly to $23.72bn, losing $246.5mn. Gold tonnage declined by 3.5% to 11.6mn troy ounces (360.78 tonnes) from 12mn troy ounces (373.23 tonnes) a month earlier. The fact that the world gold price for the first time in history exceeded $2,100 per ounce may have prompted central bank gold sales. In October, the central bank sold 11 tonnes of gold.
The volume of deposits of the central bank of Uzbekistan deposited with central banks of other countries, as well as with the IMF, fell slightly to $336.1mn. Amounts held on accounts in other foreign financial institutions moved up by $293.4mn to more than $8bn. However, the total has fallen by more than $2bn since the beginning of the year.
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