During the media dialogue on September 19, representatives of the Central Bank of Uzbekistan firmly stated that the increase in the price of gold in the country is not related to the strengthening of the soum against the US dollar. Spot reported this, citing Sanjar Valiev, head of the regulator's International Reserves Management Department.
According to Sanjar Valiev, gold and foreign exchange reserves are formed in foreign currencies, and their volume is reflected in the published statistical indicators in dollars. Therefore, there is no direct connection with the sum.
"It is incorrect to talk about the correlation between the rise in the price of gold and the exchange rate of the sum. The sum does not participate in this process. The volume of reserves will be announced only in US dollars," Valiyev said.
For information, during the first eight months of 2025, Uzbekistan's gold exports reached $8.4 billion. In terms of value, this indicator is almost 68.5% higher than in the same period last year.
According to financial market observers, these figures indicate a steady growth in the country's foreign trade turnover and international financial reserves. At the same time, it is noted that the movement of the national currency - the sum against the dollar is determined not by changes in the price of gold, but by external economic factors and the situation in the global market.
This statement of the Central Bank once again confirms the transparency of economic processes in the country and their alignment with the requirements of the international market.
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