Tashkent, June 21, 2022. /Kabar/. As of June 1, 2022, reserve assets of Uzbekistan totaled USD 35.4 billion, the press service of the Central Bank of the republic said Tuesday.
As of June 1, 2022, foreign exchange reserves of Uzbekistan totaled USD 35.4 billion. For comparison, in May this year this figure was USD 35.9 billion. The figures show that the country’s official reserves decreased by almost USD 400 million over the past month.
While the physical volume of gold increased from 11.1 million troy ounces to 11.4 million troy ounces (about 9.33 tons) during May, its value fell from USD 21.32 billion to USD 21.18 billion.
Foreign exchange reserves in reserve assets also declined from USD 13.5 billion to USD 13.1 billion.
"Uzbekistan's gross international reserves have increased by USD 264.5 million, or 0.8% since the beginning of 2022. The impact of an increase in the price of gold from USD 1,799.25 at the beginning of the year to USD 1,854.4 amounted to USD 630 million," the report said.
Reserves are also a "safety cushion" for the country - they serve as a mitigating factor in case of a negative external shock. Recommendations of international organizations suggest that reserves for developing countries should cover at least 3 months of imports.
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