DUSHANBE (TCA) — In 2015 gold reserves of the National Bank of Tajikistan grew 40 percent and the total gold and foreign-currency reserves increased by 28 percent, National Bank Chairman Jamshed Nurmakhmadzoda told reporters in Dushanbe on January 26, Avesta news agency reported.
In his words, gold reserves increased by two tons last year.
Nurmakhmadzoda said that the gold and forex reserves are enough to cover the country’s imports for 1.7 months, which is below the international standard of three months.
The chief banker also said the National Bank and Finance Ministry will continue purchasing all gold produced in Tajikistan in order to increase the country’s gold and forex reserves.
In 2014 the National Bank said the country’s international reserves amounted to 2.550 billion somoni (US $481 million) and gold reserve was 11 tons.
Nurmakhmadzoda also said that last year, the National Bank did not spend its forex reserves to support the exchange rate of the national currency, the somoni, nor did it take loans for that purpose. “In the future the National Bank will be using all of its levers to support the exchange rate of the national currency,” he said.
The issue of stabilization of the national currency was discussed at the government meeting chaired by President Emomali Rakhmon late last week.
It was said at the meeting that the weakening of the Tajik currency was mainly artificial and orchestrated by certain interested circles.
