17:08 / 20.03.2021
Uzbekistan’s international reserves decreased by $1.1 billion

The international reserves of Uzbekistan as of March 1 amounted to $33.2 billion, follows from the Central Bank data. In a month, they decreased by $1.1 billion.

The country’s reserves are still very poorly diversified – almost everything is stored in gold and foreign currency.

Over the past month, gold in reserves increased by 0.2 million troy ounces (6.2 tons), but the price fell by $0.5 million, as the metal continues to fall in price.

Reserves, among other things, are considered a “safety cushion” for the country – they are needed as a buffer against adverse external shocks, and the adequacy of reserves directly depends on the nature of these shocks.

The current reserves will be enough to finance more than 20 months of imports. This is much more than the indicator recommended by international organizations for developing countries, which is three months.