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Uzbekistan’s reserves hit record $49.66 billion

Uzbekistan’s reserves hit record $49.66 billion
Uzbekistan’s gold and foreign currency reserves reached a record $49.66 billion in May, according to NOVA24 citing the Central Bank.

Compared to April, reserves grew by $410.2 million (+0.8%). This marks the fifth consecutive month of growth. Since January, the increase totals $8.48 billion (+20.6%).

Gold prices rose 0.6% in May, from $3272.7 to $3292.1. Since the beginning of the year, gold has gained 25.5%, and 41.3% over the past year.

From February to April, Uzbekistan sold ~12 tons of gold monthly. In May — only 30,000 troy ounces (under 1 ton). Current physical volume: 11.43 million ounces (355.5 tons).

The gold component rose to $37.65 billion (+$2.2M). Foreign currency reserves also rose by $411.9M to $11.44B — the highest since Dec 2022.

The Central Bank also bought $2.4M in securities, now totaling $706.3M.
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News » Economy » Uzbekistan’s reserves hit record $49.66 billion
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