Central Bank Chairman: Uzbek producers should be able to sell gold directly to the global market

Chairman of the Central Bank (CB) Mamarizo Nurmuratov said that Uzbek producers should be able to sell gold directly to the global market, the CB press service reports with reference to Bloomberg.

“For now, the Central Bank buys gold produced locally for soum and sells dollars in the currency market to offset the impact of purchases that can be about $350 million per month,” Mamarizo Nurmuratov said.

The publication notes that Uzbekistan, after a decade of isolation, opens its economy and modernizes its markets. 

“We want to buy US treasury bills and debt obligations of other countries, including China. The share of gold is about 50%, but in the future it may be lower,” Nurmuratov noted.