As of March 1, 2024, the official reserve assets of Uzbekistan amounted to $32.19 billion, having decreased by $2.37 billion in January and February, according to data from the central bank.
The regulator indicated that foreign-currency reserves dropped by $381.5 million in February and by $1.44 billion in January, with the combined decline of $1.82 billion reducing the remaining total to $7.55 billion.
The price of gold dropped to $2,066 per ounce from $2,076 in January — and to $2,059 by the end of February. However, in March, the price has set new records and is closing in on $2,200 per ounce.
At the end of 2023, Uzbekistan’s so-called financial cushion was $34.56 billion, down $1.2 billion from the previous year. That was the first year-over-year decline in reserves since 2018. Over the course of the year, the physical volume of the country’s gold reserves dropped by nearly 25 tons.
