Uzbekistan's gold and foreign exchange reserves approach \$50 billion

As of June 1, Uzbekistan's gold and foreign exchange reserves totaled \$49.665 billion. This was stated in the Central Bank’s report.

According to the data, since the beginning of the year, Uzbekistan’s reserves have increased by \$8.483 billion, or 20.6 percent. This marks the fifth consecutive month of growth. In particular, compared to April, the reserves grew by \$410.2 million, or 0.83 percent. Uzbekistan’s reserves have now reached their highest level since observations began in 2013, when they stood at \$22.408 billion.

At the same time, the physical volume of gold in the reserves slightly decreased to 11.4 million troy ounces (353.85 tons). However, due to the rising price of gold, its total value increased by \$2.2 billion, reaching \$37.65 billion.

It is worth noting that the Central Bank of Uzbekistan sold 12 tons of gold in February this year, becoming the top gold seller in the world for that month.