BAKU, Azerbaijan, Nov. 17
By Klavdiya Romakayeva - Trend:
The gold and foreign exchange reserves of Uzbekistan decreased in October from $33.46 to $33.35 billion, Trend reports referring to the data of the Central Bank of Uzbekistan as of November 1.
This decrease was due to a reduction of foreign currency in reserves in from $14.48 to $13.94 billion.
Gold reserves in troy ounces, on the contrary, increased from 9.9 to 10.2 million. In dollar terms, the reserves of the precious metal increased from $18.6 to $19.04 billion.
In addition, the reserves of Uzbekistan take into account Special Drawing Rights (SDR) - the IMF's standard unit of account used in settlements between countries. SDR for the month increased from $372.8 to $373.8 million.
Earlier it was reported that Uzbekistan stopped exporting gold in September 2020.
The volume of gold exports from Uzbekistan from January to August 2020 amounted to $5.8 billion. At the same time, the share of gold in total exports fell from 50 percent to 46.5 percent.
Uzbekistan's foreign trade turnover for 9M2020 reached $27.49 billion, having decreased by $3.7 billion compared to the same period last year.
Gold export in total foreign trade turnover amounted to $12.4 billion and imports amounted to $15.01 billion.
As a result, the foreign trade balance amounted to a passive balance of $2.5 billion.
According to the Central Bank of Uzbekistan, the cost of one ounce of gold as of October 19 amounted to $1,911.
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