Uzbekistan's international reserves reached $72.1 billion in August

Uzbekistan's international reserves rose to $72.1 billion in August

The gold and foreign exchange reserves of the Central Bank of Uzbekistan increased from $64.4 billion to $72.1 billion at the end of August. This was reported by the Central Bank of the Republic of Uzbekistan.

Within one month, the volume of foreign currency reserves decreased from $7.7 billion to $6.6 billion.

Gold accounted for the main share of the increase in total reserves: the value of gold in the reserves increased by $8.8 billion, reaching $64.9 billion. The physical volume of gold increased from 13.8 million to 14.1 million troy ounces.

The rise in the value of gold reserves coincided with an increase in the price of the precious metal on the world market. In August, the price of gold rose by 13.6 percent, reaching $4,602 per troy ounce. As of September 7, quotes fell to nearly $4,400 per ounce.

After a sharp decline in July, the volume of international securities in the regulator's portfolio remained virtually unchanged in August, standing at $1.8 billion. Their share in the structure of international reserves is approximately 2.4 percent.

Overall, gold now accounts for nearly 90 percent of Uzbekistan's total international reserves, while the share of foreign currency reserves is approximately 9 percent. The remaining part of the reserve assets consists of Special Drawing Rights (SDRs), the volume of which stood at $571 million at the end of August.