Uzbekistan’s international reserves exceed $32 billion

The Central Bank has updated its statistics on gold and foreign exchange reserves of Uzbekistan.

As of July 1, 2020, official reserves amounted to $32.3 billion. 

Uzbekistan’s reserves are poorly diversified: divided mainly between gold ($19.4 billion) and foreign exchange reserves ($12.4 billion).

For the first time since the CB began disclosing these data (in the fall of 2017), official reserves have exceeded $32 billion. It increased mainly due to the increase in the price of gold.

Reserves are also considered to be the country’s “airbag” – needed as a shock-reducing factor in adverse external shock situations.

Uzbekistan has enough reserves to finance 20 months of imports. This is more than the figure recommended by international organizations.