Uzbekistan's International Reserves Decline After Seven Months of Growth Due to Falling Gold Prices

According to the Central Bank of Uzbekistan, the country's international reserves stood at $68.99 billion as of April 1, 2026. This figure decreased by $8.09 billion in March, marking the first decline after seven consecutive months of growth.

The reduction in reserves is primarily linked to a drop in the value of the gold component. The value of gold reserves fell by $6.82 billion, despite an increase in physical volume from 13.1 million to 13.4 million troy ounces. The currency portion of the reserves also decreased by $1.26 billion.

The main driver behind the decline was a sharp fall in global gold prices. While the price per troy ounce reached $5,419 on March 2, the average price dropped to $4,785 by April 1. This fluctuation directly impacted the valuation of the gold holdings.

The securities portfolio remained virtually unchanged, staying at approximately $1.5 billion. This component represents a relatively small share of the overall reserve structure.

Economic analysts highlight that this situation serves as a critical indicator for the country's external economic stability. The decline in reserves underscores sensitivity to global market volatilities and emphasizes the need for ongoing monitoring of price trends in the future.

Source: kun.uz