Gold Reserves Reach a Historic Record
Uzbekistan's gold and foreign exchange reserves have today reached the highest level in the country's history. This was reported by Zamin.uz.
According to the latest data from the Central Bank, the volume of state reserves has reached seventy-seven billion US dollars. This figure is two billion dollars higher compared to the previous month.
In February, reserves were recorded at seventy-five billion dollars. This growth demonstrates the stability of the country's economy and the efficiency in utilizing opportunities in the international market.
The sharp rise in precious metal prices on the global market was the main factor in achieving this record result. Currently, the physical volume of gold stored in the country's treasury is significantly more than three million, totaling thirteen million one hundred thousand troy ounces.
Gold reserves of this volume are currently valued at seventy-seven billion dollars. The remainder of the reserves consists of various foreign currencies, with a total value equal to eight billion eight hundred million dollars.
According to economist Ravshanbek Dalimov, gold is increasingly becoming an important tool in geopolitical processes. A sharp increase in gold prices influenced by speculative capital is being observed on the global market.
The expert emphasizes that systematic reforms are necessary for Uzbekistan to transform its rich natural resources into internationally recognized jewelry brands. In this regard, strengthening state support measures and introducing new technologies are of particular importance.
By developing the gold industry, the country can further expand its opportunities in external markets and achieve an increase in the well-being of the population.
