Materials with tag «foreign exchange and gold reserves»
Gold price surge boosts Uzbekistan’s foreign exchange reserves, yet gold volume declines
In March, Uzbekistan’s foreign exchange reserves grew to $34.2 billion, amid record-breaking increases in gold prices. Meanwhile, the physical volume of precious metal in the reserves fell by 10.9 tons, marking its lowest level since May 2022.
Uzbekistan’s gold and foreign exchange reserves decreased by additional $2.37 billion since beginning of year, partly used for Eurobonds redemption
Uzbekistan’s international reserves fell by $2.37 billion in two months to $32.2 billion, the lowest since September last year. Physical volume of gold is unchanged, but the value of gold reserves and foreign currency reserves decreased. Funds were partly used to redeem Eurobonds worth $500 million.
Uzbekistan remains global leader in gold sales for second consecutive month, despite decrease in reserves
Uzbekistan leads global gold sales for the second consecutive month, having sold 11 tons in November 2023. Despite a rise in international reserves in December, the country’s “financial cushion” dropped by $1.2 billion in 2023 to $34.56 billion, marking the first decline since 2018.
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