16:24 / 20.10.2020
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Volume of Uzbekistan’s gold and foreign exchange reserves down

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

Photo: DAVID GRAY/AFP

As of October 1, 2020, official reserves amounted to $33.4 billion.

Uzbekistan’s reserves are poorly diversified – between gold ($18.6 billion) and foreign currency assets ($14.5 billion, in September – $15.4 billion).

Reserves are also considered to be the country’s “airbag” – they are needed as a shock-reducing factor in adverse external shock situations, and the adequacy of reserves depends directly on the nature of the shock situation.

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

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