The volume of gross gold and foreign exchange reserves of Uzbekistan as of April 1 stood at $32.6 billion, having decreased by $589.1 million over the month. Since the beginning of the year, the indicator has dipped by $2.2 billion, according to the data from the Central Bank.
Net foreign exchange reserves (the difference between gross reserves and liabilities in freely convertible currencies) went down by $771.8 million, to $31.6 billion.
The country’s gold and FX reserves have been declining for the third month in a row. In March, gold reserves rose by 0.2 million troy ounces (about 6.2 tons), with their total number reaching 11.4 million ounces (about 323 tons). However, the value of these reserves dipped by $450.9 million, as this precious metal became cheaper in March.
On March 1, the price of gold was $1738.8 per ounce, on March 30 it fell to $1687.8 and then as of April 1 it went up to $1729.3.
Uzbekistan’s foreign currency reserves also decreased by $132.4 million. (Uzreport/Business World Magazine)