Uzbekistan’s gold and FX reserves reach $32.9bn in October

By Muzaffar Ismailov in Tashkent November 8, 2023

Uzbekistan's gold and FX reserves volume amounted to $32.9bn as of November 1, according to the country’s central bank.

The volume moved up by $1.86bn in October. Nevertheless, the reserves trailed the March figure by $2.5bn.

Hard currency assets amounted to $8.38bn — one of the lowest figures recorded during the entire time covered by the statistical series. Over the past month, the hard currency reserves expanded by $988.2mn, but they have remained below the $10bn mark for six months in a row.

The volume of the central bank’s deposits placed with the central banks of other countries, as well as with the IMF, in October increased slightly to $391.5mn. In addition, the amounts on accounts in other foreign financial institutions grew by $966.2mn to less than $8bn, with the figure lower by $2.46bn since the beginning of the year.

Uzbekistan’s gold reserve in October slightly increased to $23.97bn.

However, the tonnage of gold held in the reserves decreased by almost 2.5%. There were 12mn troy ounces (373.23 tonnes) against 12.3mn troy ounces (382.57 tonnes) registered a month earlier.

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