Uzbekistan's reserves declined by nearly $3 billion in October
By November 1, reserves had fallen to $63.6 billion—the lowest level since the beginning of the year. The bulk of the decline was due to gold: its value dropped by $2.04 billion, although the physical stock increased to 454.1 tonnes.
According to data from the Central Bank, Uzbekistan's international reserves decreased by $2.96 billion, or 4.5%, in October.
The value of gold in reserves fell by 3.4%, to $58.04 billion. Meanwhile, its physical volume increased to approximately 14.6 million troy ounces. In October, gold became over $200 cheaper per ounce—from about $4,188 to $3,981.
The foreign currency portion of reserves shrank by $921 million, or 15.5%, to $5.01 billion over the month. This is the lowest level since the publication of statistics began. The volume of cash currency and deposits decreased by 8.9%, to $3.86 billion. Around $1.07 billion was held in IMF and other central banks' funds, while another $2.78 billion was in deposits at foreign commercial banks.
The value of foreign securities declined by 32%, to $1.148 billion. Their share in total reserves decreased from 2.54% to 1.8%. The volume of Special Drawing Rights at the IMF fell by $1.6 million, amounting to $569.2 million in dollar equivalent.
