Uzbekistan's gold-valuta reserves have decreased by almost $ 840 million

During May, Uzbekistan's gold-valuta reserves decreased from $ 35.2 billion to $ 34.4 billion. Currently, the central bank reserve has reserves of 11.9 million ounces of gold and 10.1 billion dollars of foreign valuta.
The central bank updated the information on the international reserves of Uzbekistan.

As of June 1, 2023, Uzbekistan's gold-valuta reserves were $ 34.4 billion.  For comparison, the figure was $ 35.2 billion as of may 1, 2023. 

During the reporting period, the physical volume of gold decreased from 12.2 million troy ounces to 11.9 million troy ounces, and the value from $ 24.2 billion to $ 23.2 billion.

Foreign valuta reserves in reserve assets also increased from $ 9.9 bn to $ 10.1 bn.

What are gold-valuta reserves for?

The gold-valuta reserves of each country are their own insurance. It protects the national economy of the state from possible macroeconomic risks. Therefore, gold-valuta reserves must meet a number of requirements. For example, it should be possible to use it in any area. Gold-valuta reserves are easily placed and easily obtained by darkor.

The gold-valute reserves of countries can be used for the following purposes:

to eliminate the deficit in the balance of payments and sales;
keeping inflation, to buy valuta to support national Valuta in the financial market;
to pay off the external debts of the state;
to carry out calculations between states.
Gold-valute reserves are mainly made up of precious metals (cast gold, platinum, palladium, silver), foreign monetary instruments recognized as reserve valute at the interstate level (US dollar, euro, Swiss franc, Japanese yen, pound sterling) and cashless monetary units issued by the international valute fund.

The amount of gold and valuta reserves of the state indicates the state of its economy and financial system, guarantees the timely implementation of payments on Interstate obligations. According to the recommendations of international organizations, reserves for developing countries must cover at least 3 months of imports.