Uzbekistan’s Gold and Foreign Currency Reserves Increase by 19.1%

Uzbekistan’s gold and foreign currency reserves reached $41.18 bn in 2024, which is a 19.1% increase compared to 2023, according to data from the country’s Central Bank.

Foreign currency assets amounted to $8.6 bn. Of this amount, $8.1 bn was held in international commercial banks. Another $351 mn was held in foreign central banks and the International Monetary Fund (IMF).

The volume of gold in the country’s reserves reached 12.3 mn troy ounces having increased by 3.36% over the year. In monetary terms, this figure grew from $24.6 bn to $32 bn.

At the same time, various foreign currency assets decreased over the past year, falling from $86.3 mn to $78.6 mn.

According to the World Gold Council (WGC), Uzbekistan’s Central Bank purchased 11 tonnes of gold from January to November of the previous year. As a result, the country’s gold reserves grew to 382 tonnes.