Why is this important
Record reserves bolster the country’s financial stability, ensure the stability of the national currency, and enhance the ability to service public debt.
What happened
- The value of gold reserves exceeded $40 billion for the first time (+$1.38 billion per month);
- Inventories increased from 11.7 to 11.8 million ounces;
- Foreign exchange reserves decreased by $49.3 million and remained below $9.5 billion;
- $7.52 billion was placed in foreign commercial banks, $909 million in accounts in the Central Banks of other countries and the IMF;
- The volume of securities increased to $1.016 billion (+$4.2 million).
Context
The global price of gold at the start of September neared $3,600 per ounce, which bolstered reserve growth. The proportion of gold in Uzbekistan’s reserves exceeds 80% and is setting an outright record for the second month running.
