Uzbekistan’s Gold and Foreign Exchange Reserves Increase by 2.9% in One Month
Published
Uzbekistan’s international reserves rose to over $49.2 bn at the beginning of May, according to the Central Bank of Uzbekistan. The reserves grew by 2.9% in just one month.
Gold accounts for more than $37.6 bn of this total. However, the physical volume of gold held declined slightly, from 11.8 mln to 11.5 mln troy ounces.
The country’s foreign currency reserves also increased, rising by $616.9 mln over the month to surpass $11 bn.
According to the World Gold Council (WGC), in March this year the Central Bank of Uzbekistan became the largest gold seller, offloading 11 tonnes.
