Why is this important
The dynamics of gold and foreign exchange reserves reflect the stability of the financial system and the reserve of strength of the country’s economy. The growth of reserves increases the state’s ability to smooth out external shocks and maintain macroeconomic stability. The record level of reserves also strengthens confidence in financial policy and the national currency.
What happened
- Uzbekistan’s gold and foreign currency reserves increased by more than $5 billion, according to a report by the Central Bank of Uzbekistan.
- In December 2025, their volume was $61.2 billion, and as of the beginning of 2026, it reached $66.3 billion. This is the maximum indicator for the entire period of statistics.
- The main part of the reserves is still gold.
Numbers and facts
- As of the beginning of 2026, Uzbekistan’s gold and foreign exchange reserves amounted to $66.3 billion.
- In December 2025, the country’s gold and foreign exchange reserves were estimated at $61.2 billion.
- The physical volume of gold in reserves amounted to 12.6 million troy ounces.Thus, during the month, the volume of reserves increased by more than $5 billion.
- The achieved level is a record for the entire period of maintaining official statistics.
- The physical volume of gold in reserves amounted to 12.6 million troy ounces.
- The value of the gold part of the reserves is estimated at $55 billion.
- The foreign exchange component of gold and foreign exchange reserves amounted to $10.6 billion.
- In 2025, the total volume of Uzbekistan’s gold and foreign exchange reserves increased by more than $25 billion.
Context
- Uzbekistan has increased its financial “safety cushion” to a historic high.
- A high share of gold makes the reserve structure less dependent on currency fluctuations.
- Significant annual growth indicates active reserve accumulation.
- The growth of reserves is recorded against the backdrop of high gold prices in global markets.
- The Central Bank regularly publishes data on the structure and dynamics of reserves.
