{"id":9634,"date":"2023-05-16T23:08:12","date_gmt":"2023-05-16T18:08:12","guid":{"rendered":"http:\/\/invest-in-uzbekistan.org\/?p=9634"},"modified":"2023-05-16T23:08:12","modified_gmt":"2023-05-16T18:08:12","slug":"zolotovalyutnye-rezervy-uzbekistana-v-aprele-sokratilis-na-230-mln","status":"publish","type":"post","link":"https:\/\/invest-in-uzbekistan.org\/en\/novosti-uzbekistana\/zolotovalyutnye-rezervy-uzbekistana-v-aprele-sokratilis-na-230-mln\/","title":{"rendered":"Uzbekistan\u2019s international reserves shrank by $230 million in April"},"content":{"rendered":"<h4><span style=\"font-size: 14pt;\">Uzbekistan\u2019s international reserves in\u00a0April decreased by $230 million to\u00a0a\u00a0total of $35.2 billion. The decline was mainly due to\u00a0a\u00a0reduction in\u00a0foreign currency reserves. This <a href=\"https:\/\/www.gazeta.uz\/en\/2023\/05\/11\/reseerves\/\">was reported<\/a> by &#8220;Gazeta.uz&#8221;.<\/span><\/h4>\n<p><span style=\"font-size: 14pt;\">According to\u00a0data from the Central Bank, Uzbekistan\u2019s official reserve assets stood at $35.2 billion as\u00a0of\u00a0May 1, 2023, dropping by $230 million in\u00a0April.<\/span><\/p>\n<p><span style=\"font-size: 14pt;\">Foreign exchange reserves keep declining, reaching $9.93 billion (-$181.4 million). Foreign exchange reserves have decreased by $1.71 billion since the start of\u00a0the year.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-size: 14pt;\">The gold reserves&#8217; worth dropped by $50 million to $24.2 billion. The physical amount of\u00a0the precious metal fell by\u00a00.1 million troy ounces (3.1 tonnes) to\u00a012.1 million troy ounces (around 379.4 tonnes). This may suggest that Uzbekistan exported gold in\u00a0April.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-size: 14pt;\">The decline in\u00a0\u201cgold\u201d reserves came amid a\u00a0rise in\u00a0gold prices\u00a0\u2014 its quotations in\u00a0April rose from $1,999 to $2,034 per ounce.<\/span><\/p>\n<p><span style=\"font-size: 14pt;\">The precious metal is\u00a0rising in\u00a0price amid the crisis in\u00a0the\u00a0US and European banking sector and the collapse of\u00a0financial companies&#8217; stocks. Vladimir Chernov, an\u00a0analyst at\u00a0Freedom Finance Global,\u00a0<a href=\"https:\/\/www.finam.ru\/publications\/item\/zoloto-dvizhetsya-k-rekordnym-znacheniyam-20230509-1851\/\">said<\/a>\u00a0the upward trend in\u00a0the precious metal\u2019s quotations is\u00a0due to\u00a0the expected end of\u00a0the\u00a0US Federal Reserve\u2019s tightening of\u00a0monetary policy, which was hinted at\u00a0by\u00a0regulator Chairman Jerome Powell following the May meeting.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-size: 14pt;\">\u201cAgainst this backdrop, the likelihood of\u00a0a\u00a0weaker dollar with a\u00a0parallel rise in\u00a0the price of\u00a0commodities denominated in\u00a0that currency, including gold, is\u00a0increasing. The increased demand for the metal is\u00a0also due to\u00a0its protective status amid uncertainties about the situation with the regional U.S. banks and the risks of\u00a0a\u00a0global recession,\u201d\u00a0\u2014 emphasized the expert.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-size: 14pt;\">The available reserves exceed the country\u2019s imports for 2022, which amounted to $30.67 billion. According to\u00a0the recommendations of\u00a0international organisations for developing countries, reserves should cover at\u00a0least three months of\u00a0imports.<\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>Uzbekistan\u2019s international reserves in\u00a0April decreased by $230 million to\u00a0a\u00a0total of $35.2 billion. The decline was mainly due to\u00a0a\u00a0reduction in\u00a0foreign currency reserves. This was reported by &#8220;Gazeta.uz&#8221;. According to\u00a0data from the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":9635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-9634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-novosti-uzbekistana"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/posts\/9634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/comments?post=9634"}],"version-history":[{"count":1,"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/posts\/9634\/revisions"}],"predecessor-version":[{"id":9636,"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/posts\/9634\/revisions\/9636"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/media\/9635"}],"wp:attachment":[{"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/media?parent=9634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/categories?post=9634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/invest-in-uzbekistan.org\/en\/wp-json\/wp\/v2\/tags?post=9634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}