As of February 1, the total value of Uzbekistan's international and gold reserves stood at $42.9bn, marking an increase of $1.72bn or 4.17% compared to the previous month, according to the Central Bank.
The increase in the gold reserves was particularly notable, with the value rising by $3.02bn to $35.06bn, setting a new benchmark. The surge in gold prices on global markets, with the price of a troy ounce nearing the $2900 mark, is believed to be a key factor driving this growth.
In terms of volume, Uzbekistan’s gold reserves grew slightly from 12.3mn troy ounces (382.57 tons) to 12.6mn troy ounces (391.9 tons).
However, Uzbekistan's foreign exchange reserves experienced a decline, falling by $1.29bn to just under $7.3bn as of early February. This includes $442.3mn in accounts held with other countries' central banks and the International Monetary Fund, along with $6.75bn in foreign commercial banks.
In contrast, the Central Bank's holdings in foreign securities saw a modest increase, rising to $102.1mn. This reflects the continued investment strategy, including the purchase of foreign bonds, which nearly tripled since the previous October.
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