Uzbekistan’s international reserves amount to over $35.1 billion

The official reserve assets of Uzbekistan as of January 1, 2022, amounted to $35.139 billion, follows from the data of the Central Bank. Compared to December, they grew by almost $390 million.

The currency part of the reserve decreased slightly over the past month. Now its volume is $13.07 billion, about $120 million less than at the beginning of December.

At the same time, Uzbekistan’s gold reserves have grown. On January 1, its value was estimated at $20.95 billion – half a billion dollars more than a month earlier.

The price of an ounce of the precious metal rose to $1,827 over the month, but by January 18, it had dropped slightly to $1,813. Also, the amount of gold increased by 6 tons – its tonnage now stands at 11.6 million troy ounces, or 360.8 tons.

The current reserves are enough to finance approximately 15 months of imports. This is significantly more than the 3-month level recommended by international organizations for developing countries.

Reserves, among other things, are considered a country’s “airbag” – they are needed as a buffer in case of adverse external shocks, and the adequacy of reserves directly depends on the nature of these shocks.