Uzbekistan's international reserves fall for fourth straight month

By Muzaffar Ismailov in Tashkent August 10, 2023

Uzbekistan's official international reserves as of August 1 amounted to $33.64bn, slightly down by $71.8mn since July 1, according to central bank data.

The reserves fell for the fourth straight month. Since the beginning of the year, they have declined by $2.12bn.

The value of the gold reserve decreased by $67.1mn to $23.02bn. The physical volume of the precious metal, on the other hand, increased by 0.3mn troy ounces (approximately 9.3 tonnes) to 11.8mn troy ounces (approximately 367 tonnes). In 7M23, the gold reserve volume lost almost 28.3 tonnes.

The hard currency reserve decreased by $14.9mn to $9.56bn during July. In 7M23, the FX reserve declined by $2.08bn.

In July, the gold price moved up from $1,931.9 to $1,971.9 per troy ounce.

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