The Central Bank bought gold worth 19.5 trillion soums in 3 months

The Central Bank announced the "Money Market and Liquidity Review" for the II quarter of this year. In this material, the organization provided information on the purchase of precious metals and currency interventions.

According to him, in the second quarter of 2023, against the background of a number of reasons, such as external economic conditions, global recession and increased risks to the stability of the financial system, the price of gold in the world market was formed within the range of 1,900 - 2,000 US dollars per 1 troy ounce.

As a result, the Central Bank's purchase of precious metals during this period amounted to 19.5 trillion soums, which was 9.9% more than in the first quarter of 2023 (17.2 trillion soums in the corresponding period of 2022).

"Liquidity released by the central bank for the purchase of precious metals was sterilized by interventions in the domestic currency market based on the principle of neutrality of gold-currency reserves." In particular, the net interventions of the Central Bank in the domestic currency market amounted to 2.4 billion dollars (equivalent to 28 trillion soums), which made it possible to sterilize the additional liquidity caused by the purchase of precious metals," said the MB review.

Source: Khabar.uz