Materials with tag «reserves»
Uzbekistan significantly reduces gold sales in April and May
Uzbekistan significantly reduced its gold exports in April and May, according to data from the World Gold Council. The country exported 23 tons of gold in February and March, but this figure plummeted to just 1 ton in the following months.
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.
Uzbekistan’s international reserves shrink second month in a row
Uzbekistan’s international reserves dropped by $837.9 million to $34.37 billion in May, as the value of its gold reserves fell by nearly $1 billion. The decline in gold did not lead to a corresponding rise in foreign exchange reserves.
Uzbekistan’s international reserves shrank by $230 million in April
Uzbekistan’s international reserves in April decreased by $230 million to a total of $35.2 billion. The decline was mainly due to a reduction in foreign currency reserves.
Uzbekistan’s official reserve assets reach $35.44 billion
Uzbekistan’s reserve assets reached $35.44 billion in April, driven by a 4.3% increase in gold reserves during March, while foreign currency reserves experienced minor growth. The primary factor behind the expansion was a $1.41 billion surge in gold value, totaling $24.25 billion.
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