Gold and foreign exchange reserves. Photo: maxxyustas/Depositphotos
According to a report from the Central Bank of Uzbekistan, the country’s gold and foreign exchange reserves surpassed $44.9 bn on March 1. This represented an increase of 4.7% over the previous month.
Foreign currency reserves totaled $9.5 bn, up from $7.2 bn a month prior. The total value of gold reserves was $34.8 bn, down slightly from $35 bn in February. The volume of gold decreased from 12.6 mln to 12.2 mln troy ounces over the same period.
In January, the Central Bank of Uzbekistan emerged as the largest buyer of gold, acquiring 8 tonnes of the precious metal. China and Kazakhstan followed, purchasing 5 tonnes and 4 tonnes, respectively.
Kursiv Uzbekistan also reports that more than 2.9 tonnes of gold and silver were sold at the Uzbek Republican Commodity Exchange last year.
