Uzbekistan’s gold exports reached a record high of $8.1bn in 2023, doubling the previous year’s figures, Kursiv reported. This significant increase is attributed to the Central Bank’s active sales of gold, which has ensured a substantial rise in exports.
In November 2023 alone, the Central Bank sold 11 tonnes of gold, making it the largest seller of the precious metal among global regulators. This sale contributed $1.28bn to the export figure.
Surge in foreign exchange reserves
The Central Bank of Uzbekistan reported that the country’s foreign exchange reserves reached $34.5bn at the beginning of 2024. This figure represents an increase of $1.7bn compared to December 2023.
Gold bar prices reach new highs
The Central Bank of Uzbekistan announced that the cost of a five-gram gold bar reached UZS 4.2 mn for the first time. This record was set after the previous high of UZS 4.1 mn on November 28.
In addition, prices for 10-gram (up to UZS 8.4 mn), 20-gram (up to UZS 16.9 mn) and 50-gram (UZS 42.3 mn) ingots have also increased.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)