As of July 1, the total value of Uzbekistan’s international assets stood at $48.5 billion. A month earlier, in May, reserves had reached a record high of $49.6 billion.
The sharp drop was mainly due to a decline in foreign currency holdings, which fell from $11.4 billion to $9.5 billion over the course of the month.
At the same time, the value of gold held in the Central Bank’s vaults rose by $763 million, reaching $38.4 billion. The volume of gold also increased from 11.4 million ounces (323.18 tonnes) to 11.7 million ounces (331.68 tonnes).
Earlier this year, in January, Uzbekistan’s reserves had hit an all-time high. June’s decline marks the first major correction since then.
