Uzbekistan's gold and foreign exchange reserves fell to $48.55 billion in June, the Central Bank said.
Compared to May, the reserves dropped by $1.11 billion, marking the first decline since December.
In February-April, Uzbekistan sold approximately 12 tons of gold per month. In May, sales fell to 30 thousand troy ounces (less than 1 ton).
In June, the Central Bank decided to switch to buying, raising the gold’s physical volume by 290 thousand troy ounces (9 tons) to 11.72 million troy ounces (364.5 tons).
As a result, the value of gold in reserves increased by $763 million to $38.42 billion. This is a record figure for the entire period of statistics since 2013.
After the purchase, the foreign exchange portion of the reserves decreased by $1.88 billion to $9.56 billion.
The Central Bank also continues to diversify its assets. The Central Bank purchased securities for another $2.5 million, bringing their volume to $708.8 million.
