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12:36 / 18.05.2019 639

Uzbekistan sharply reduces foreign currency reserves

Photo: Getty Images

The foreign exchange reserves of Uzbekistan over the past month decreased by $1 billion, follows from the data of the Central Bank.

On May 1, official reserves amounted to $26.6 billion, while on April 1 it was $27.6 billion.

If you look at the structure, reserves in foreign currency over the past month have substantially decreased from $12.8 billion to $11.5 billion.

As for gold, the reserves have reached their maximum since the beginning of the year – $14.6 billion (a month ago it was $14.4 billion).

The decline in foreign currency is particularly noticeable against the background of sharp growth, which was on March 1:

In February, it became known that Uzbekistan plans to reduce the share of gold in its foreign exchange reserves and instead buy US treasury bonds.

So far, judging by the data, this is not happening, since May 1, there were 11.4 million pure troy ounces of gold in the reserves of Uzbekistan – the same amount as in January.