Uzbekistan's international reserves near $43 billion

Uzbekistan's international assets grew by $1.72 billion in January, driven by rising gold prices, while foreign exchange reserves declined, according to data from the Central Bank. Both international and gold reserves saw a significant increase during the month.

As of February 1, the total value of assets in the Central Bank's reserves amounted to $42.9 billion, marking an increase of $1.72 billion, or 4.17%, compared to the previous month. As a result, the total reserves remain near the record levels achieved in October of the previous year.

The value of gold in the Central Bank's holdings rose by $3.02 billion, reaching $35.06 billion, setting a new record. This increase is largely attributed to the price of gold on global markets, which approached $2,900 per troy ounce.

Meanwhile, the volume of gold reserves saw a slight increase, from 12.3 million (382.57 tons) to 12.6 million troy ounces (391.9 tons).

Uzbekistan's foreign exchange reserves, on the other hand, experienced a significant decline of $1.29 billion. By early February, these reserves had dropped below $7.3 billion, including $442.3 million held in accounts at central banks of other countries and the International Monetary Fund, as well as $6.75 billion in foreign commercial banks.

Additionally, the value of government securities purchased by the Central Bank increased slightly to $102.1 million. In October, the Central Bank had reported purchasing foreign bonds worth $65 million, nearly tripling the volume.

In 2025, the Central Bank plans to continue purchasing U.S. government bonds. To further diversify its gold and foreign exchange reserves, the regulator will focus on investing in low-risk assets.

#economy #Central Bank #gold