- 5
- 13.09.2023 07:43:00
- 2 min read
Uzbekistan's official reserve assets were down to $ 958 million in August, at $ 32 billion, 690 million as of September 1, 2023. This was reported by the central bank.
Reserves are decreasing for the fifth month in a row-in May, official reserve assets decreased by $ 837.9 million, in June — by $ 649 million, and in August — by $ 71.8 million.
It is reported that the country's gold reserves are increasing by $ 410 million to $ 23 billion 430 million. The size of the precious metal also increased by 0.3 million troy ounces (9.33 tons) to 12.1 million troy ounces (about 376.31 tons).
Uzbekistan exported more than $ 3 billion in gold last January–April. In April, Uzbekistan cut gold exports to $ 650 million. The total supply of precious metal abroad was $ 3.06 billion.
What are gold reserves for?
In simple terms, this is insurance, the “airbag”of the state. Reserves are available for emergencies in almost all countries of the world.
Stocks are usually stored in high-liquidity, i.e. fast-selling assets. Gold and foreign currency meet these requirements — they can be used at any time to pay off debt or for investments.
Until 2017, information about the reserves of Uzbekistan was not released to the public. By November of that year, reserves were known to be 26 billion.
