Uzbekistan’s gold and foreign exchange reserves decreased

As per the report of the Central Bank, monetary gold and foreign currency reserves of Uzbekistan have decreased.

It is noted that the method of calculation of gold and foreign exchange reserves is based on the standards of the International Monetary Fund. The structure of the gold and foreign exchange reserves consists of foreign currency assets and gold coins.

Gross gold and foreign exchange reserves have amounted to $26,4 billion in October ($26,8 billion in September), out of which $12,4 billion is foreign currency assets ($12,9 billion a month before) and $13,9 billion is monetary gold ($13,9 billion in September).

The volume of Uzbekistan's net gold and foreign exchange reserves made up $25,4 billion ($25,9 billion a month earlier).

According to the Central Bank's explanation, the diminishment of gold and currency reserves in January-September of this year caused by the gradual decline of gold price from $1296,50 to $1183,50 per ounce (the estimated impact on decline was $1123,2 million).

In September 2018, the fall of gold and currency reserves resulted by the decline of gold price from $1206,85 to $1183,50 per ounce (the impact of the price on gold and currency reserves decreased by $269,8 million).