Uzbekistan’s foreign exchange reserves hit a record $45 billion in February

The Central Bank of Uzbekistan sold a significant amount of gold and purchased securities worth $100 million. Foreign currency assets increased by more than $2.1 billion.

In February, Uzbekistan’s foreign exchange reserves reached a historic high, according to data from the Central Bank.

As of March 1, the total value of the regulator’s reserve assets stood at $44.94 billion, marking an increase of $2.03 billion (4.74%) compared to the previous month. This surpassed the previous record of $43.14 billion, set in October last year.

The value of gold held by the Central Bank saw a slight decline of $201.9 million, bringing it to $34.86 billion, which remains close to its all-time high. Meanwhile, the country’s gold reserves by weight decreased from 12.6 million troy ounces (391.9 tons) to 12.2 million troy ounces (379.45 tons).

Uzbekistan’s foreign currency reserves saw a sharp increase of $2.13 billion, reaching $9.53 billion at the beginning of March. This includes $414.3 million held in accounts at central banks of other countries and the International Monetary Fund (IMF), as well as $8.91 billion deposited in foreign commercial banks.

Additionally, the value of securities purchased by the Central Bank doubled from $102.1 million to $202.5 million. In October 2024, the regulator reported acquiring foreign bonds worth $65 million, tripling their volume.

In 2025, the Central Bank plans to continue purchasing U.S. government bonds as part of its strategy to diversify foreign exchange reserves by investing in low-risk assets.