Uzbekistan’s international reserves expand by $1.5bn in March

Uzbekistan’s international reserves expand by $1.5bn in March
/ bne IntelliNews
By Muzaffar Ismailov in Tashkent April 10, 2023

Uzbekistan's international reserves amounted to $35.4bn as of April 1, after increasing by $1.47bn during March, according to the central bank. 

The FX reserves were almost unchanged at $10.11bn, up $42.8mn m/m.

The holdings of gold in the reserves rose by $1.41bn, despite a reduction of 300,000 troy ounces (9.3 tonnes) in physical volume. As of April 1, the reserves included 382.57 tonnes (12.3mn troy ounces) of gold. The value of the precious metal in the vaults has reached $24.25bn, the highest figure since the regulator began publishing the gold statistics in 2018.

In March, gold price quotations on the world market exceeded $2,000 per troy ounce for the first time since April 18, 2022. In February, the gold price fell as low as $1,842 per troy ounce.

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