The Central Bank of Uzbekistan is among the world banks that considerably scaled up gold purchases in April-June 2022. the World Gold Council’s (WGC) website reports.
A record was set for gold purchases in June - 164.4 tons. In May, this figure was equal to 35 tons. And in April this figure was 19.4 tons.
From April-June, the main buyer of gold was Iraq increasing its reserves by almost 34 tons. Turkey is in second place with 26.6 tons of purchases.
The Central Bank of Uzbekistan has gained third place. The country’s money regulator increased its gold reserves by 26.44 tons.
As of July 1, Uzbekistan's gold and currency reserves amount to 35.5 billion dollars.
Developing countries, including Uzbekistan, are recommended by international organizations to keep sufficient reserves to finance imports for three months.
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