International reserves of Uzbekistan exceed $30 billion

The volume of international reserves of Uzbekistan surpassed $30 billion.

Photo: Brent Lewin / Bloomberg

Central Bank updated statistics on gold and foreign currency reserves of Uzbekistan.

On March 1, 2020, official reserves were $30.5 billion. International reserves accounted for $30.01 billion. Uzbekistan's reserves are poorly diversified, being distributed mainly between foreign currency ($12.8 billion) and gold ($17.2 billion).

Since the moment when the Central Bank began to announce this information (in the fall of 2017), for the first time official reserves have exceeded $30 billion. This is mainly due to the increase in the gold price.

In the fall of 2019, it was announced that Uzbekistan had sufficient reserves to finance imports for 13 months, which is four times more than the recommended amount.