Uzbekistan Central Bank reserves down to $33.3 billion as of March 1

Uzbekistan’s gold and foreign exchange reserves declined to $33.26 billion as of March 1, That was a modest decline of about $1 billion from a month ago, the Central Bank said on Tuesday.

The Central Asian country’s total foreign reserves declining since the beginning of 2021. Gold reserves slightly increased in February, but lost value due to falling gold prices on international markets. Uzbekistan did not sell any gold reserves from foreign assets, the country’s main export commodity. Since the beginning of 2021, Uzbekistan’s foreign trade balance has negatively slid by $1.5 billion, according to the Uzbekistan State Statistics Committee.

Uzbekistan sold 110 tons of gold in 2020. The regulator said the country would continue to export gold in 2021, depending on the golds prices on world markets.