The Central Bank of the Republic of Uzbekistan has published updated data on the country’s international reserves. As of November 1, 2025, the volume of official reserve assets reached an absolute record, amounting to 59.3 billion US dollars.
This statistic testifies to the significant strengthening of macroeconomic stability and the increase in the republic’s financial resilience against external challenges.
Record Growth and Key Drivers
According to the regulator’s data, in just one month (October 2025), the country’s international reserves increased by more than 4.4 billion dollars. For comparison, as of October 1, 2025, this figure was 54.9 billion dollars.
Such impressive positive dynamics are due to two fundamental factors: prudent management of gold and currency assets and favorable conditions in the global precious metals markets.
Gold Stock: A Strategic Asset
Gold traditionally occupies a dominant position in the structure of Uzbekistan’s reserves, playing the role of a reliable “safety cushion”.
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Value: As of November 1, 2025, the value of the gold stock in reserves reached 47.8 billion dollars.
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Physical Volume: The physical volume of the precious metal remained stable at the level of 11.9 million troy ounces.
The key factor in the growth of the total value of reserves was the increase in global gold quotations. The Central Bank’s decision to maintain a significant share of assets in monetary gold amidst global geopolitical uncertainty has fully justified itself, ensuring a revaluation of assets towards a significant increase.
Currency Assets and Liquidity
The currency part of the reserves, necessary for operational servicing of foreign economic transactions and interventions in case of volatility, also demonstrates stability.
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Volume: Reserves in foreign currency and deposits amounted to 9.8 billion dollars.
The availability of a sufficient volume of highly liquid currency funds allows the regulator to effectively smooth out short-term fluctuations in the foreign exchange market and timely fulfill obligations on external debt and imports.
Economic Significance
Reaching the mark of 59.3 billion dollars has a number of positive consequences for the economy of Uzbekistan:
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Import Coverage: The current volume of reserves covers the standard recommended by international organizations (3 months of imports) with a large margin, ensuring uninterrupted financing of critically important imports of equipment and technologies for modernizing the economy.
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Sovereign Rating: The record level of reserves is a strong signal for international rating agencies and foreign investors, confirming the country’s solvency and low risk of default.
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Exchange Rate Stability: A significant safety margin gives the Central Bank the necessary instruments to maintain the stability of the national currency.
Conclusion
Statistics as of November 1, 2025, confirm the effectiveness of the Central Bank’s strategy for managing state assets. The growth of international reserves to 59.3 billion dollars not only guarantees the country’s economic security but also creates a solid foundation for further sustainable development and the implementation of large-scale investment projects.