{"id":4449,"date":"2025-02-10T17:37:51","date_gmt":"2025-02-10T12:37:51","guid":{"rendered":"https:\/\/invexi.org\/?p=4449"},"modified":"2025-02-10T17:37:51","modified_gmt":"2025-02-10T12:37:51","slug":"uzbekistan-s-international-reserves-as-of-february-1-2025-analysis-of-dynamics-and-structure","status":"publish","type":"post","link":"https:\/\/invexi.org\/uz\/press\/uzbekistan-s-international-reserves-as-of-february-1-2025-analysis-of-dynamics-and-structure\/","title":{"rendered":"O\u2018zbekistonning 2025-yil 1-fevral holatidagi xalqaro zaxiralari: dinamikasi va tarkibi tahlili"},"content":{"rendered":"<p><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>Kirish<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>Xalqaro zaxiralar mamlakatning makroiqtisodiy barqarorligini aks ettiruvchi asosiy ko\u2018rsatkichlardan biridir. Ular bir necha muhim funksiyalarni bajaradi:<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"font-size: 14pt;\"><strong>Likvidlikni ta\u2019minlash<\/strong><strong> \u2013 Zaxiralar davlatga xorijiy hamkorlar va investorlar oldidagi majburiyatlarini bajarishga imkon beradi.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Valyuta barqarorligini saqlash<\/strong><strong> \u2013 Markaziy bank xalqaro zaxiralardan valyuta intervensiyalari uchun foydalanib, milliy valyutaning keskin tebranishlarini yumshatadi.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Moliyaviy xavfsizlik yostig\u2018i<\/strong><strong> \u2013 Iqtisodiy inqirozlar yoki tashqi iqtisodiy zarbalar yuzaga kelganida, zaxiralar ularning salbiy ta\u2019sirini kamaytirishga yordam beradi.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Import operatsiyalarini kafolatlash<\/strong><strong> \u2013 Yetarli miqdordagi zaxiralar mamlakatga tashqi savdoda barqarorlikni ta\u2019minlash va import xarajatlarini qoplash imkonini beradi.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Mamlakatning kredit reytingini oshirish<\/strong><strong> \u2013 Yuqori zaxiralar moliyaviy barqarorlikni namoyish etib, xorijiy investorlar va kreditorlar uchun tavakkalchiliklarni kamaytiradi.<\/strong><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 14pt;\"><strong>O\u2018zbekiston zaxiralari tarkibida oltin va xorijiy valyuta ustunlik qiladi. Ularning o\u2018zgarishi jahon iqtisodiy tendensiyalari, Markaziy bank siyosati va mamlakatning likvidlik ehtiyojlari bilan bog\u2018liq.<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>O\u2018zbekiston Respublikasi Markaziy banki ma\u2019lumotlariga ko\u2018ra, 2025-yil 1-fevral holatida xalqaro zaxiralar umumiy hajmi 42,9 milliard dollarni tashkil etib, o\u2018tgan oyga nisbatan 1,72 milliard dollarga (+4,17%) oshgan. Ushbu o\u2018sishning asosiy omili jahon bozorlarida oltin narxining oshishi bo\u2018ldi.<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>Xalqaro zaxiralarning dinamikasi<\/strong><\/span><\/p>\n<table width=\"100%\">\n<thead>\n<tr>\n<td width=\"22%\">\n<p><span style=\"font-size: 14pt;\"><strong>Sana<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"34%\">\n<p><span style=\"font-size: 14pt;\"><strong>Umumiy zaxiralar <\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>($ mlrd)<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"23%\">\n<p><span style=\"font-size: 14pt;\"><strong>O\u2018zgarish <\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>($ mlrd)<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"18%\">\n<p><span style=\"font-size: 14pt;\"><strong>O\u2018zgarish <\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>(%)<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td width=\"22%\">\n<p><span style=\"font-size: 14pt;\"><strong>2024-yil 1-noyabr<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"34%\">\n<p><span style=\"font-size: 14pt;\"><strong>41,93<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"23%\">\n<p><span style=\"font-size: 14pt;\"><strong>-0,48<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"18%\">\n<p><span style=\"font-size: 14pt;\"><strong>-1,13%<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"22%\">\n<p><span style=\"font-size: 14pt;\"><strong>2024-yil 1-dekabr<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"34%\">\n<p><span style=\"font-size: 14pt;\"><strong>41,47<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"23%\">\n<p><span style=\"font-size: 14pt;\"><strong>-0,46<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"18%\">\n<p><span style=\"font-size: 14pt;\"><strong>-1,10%<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"22%\">\n<p><span style=\"font-size: 14pt;\"><strong>2025-yil 1-yanvar<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"34%\">\n<p><span style=\"font-size: 14pt;\"><strong>41,18<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"23%\">\n<p><span style=\"font-size: 14pt;\"><strong>-0,29<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"18%\">\n<p><span style=\"font-size: 14pt;\"><strong>-0,70%<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"22%\">\n<p><span style=\"font-size: 14pt;\"><strong>2025-yil 1-fevral<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"34%\">\n<p><span style=\"font-size: 14pt;\"><strong>42,90<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"23%\">\n<p><span style=\"font-size: 14pt;\"><strong>+1,72<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\" width=\"18%\">\n<p><span style=\"font-size: 14pt;\"><strong>+4,17%<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-size: 14pt;\"><strong>Jadvaldan ko\u2018rinib turibdiki, uch oy davomida zaxiralar kamayganidan so\u2018ng, yanvar oyida o\u2018sish kuzatilgan.<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>Xalqaro zaxiralarning tarkibi<\/strong><\/span><\/p>\n<table>\n<thead>\n<tr>\n<td>\n<p><span style=\"font-size: 14pt;\"><strong>Zaxira tarkibi<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>2025-yil 1-yanvar <\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>($ mlrd)<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>2025-yil 1-fevral <\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>($ mlrd)<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>O\u2018zgarish <\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>($ mlrd)<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\n<p><span style=\"font-size: 14pt;\"><strong>Oltin<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>32,04<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>35,06<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>+3,02<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-size: 14pt;\"><strong>Xorijiy valyuta<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>8,59<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>7,30<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>-1,29<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-size: 14pt;\"><strong>Qimmatli qog\u2018ozlar<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>$100,5 mln<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>$102,1 mln<\/strong><\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\">\n<p><span style=\"font-size: 14pt;\"><strong>+$1,6 mln<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-size: 14pt;\"><strong>Asosiy tarkibiy qismlar:<\/strong><\/span><\/p>\n<ol>\n<li><span style=\"font-size: 14pt;\"><strong>Oltin:<\/strong><\/span>\n<ul>\n<li><span style=\"font-size: 14pt;\"><strong>2025-yil 1-fevral holatida oltin zaxiralari qiymati 35,06 milliard dollarni tashkil etdi, bu o\u2018tgan oyga nisbatan 3,02 milliard dollarga oshgan.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Fizik hajm jihatidan<\/strong><strong>, oltin 12,3 million troya unsiyadan 12,6 million unsiyaga (taxminan 391,9 tonna) oshdi.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Oltin narxining jahon bozorida<\/strong><strong> $2 900 troya unsiya darajasiga yetgani bu o\u2018sishga katta ta\u2019sir ko\u2018rsatdi.<\/strong><\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Xorijiy valyuta zaxiralari:<\/strong><\/span>\n<ul>\n<li><span style=\"font-size: 14pt;\"><strong>Xorijiy valyuta zaxiralari 1,29 milliard dollarga kamayib, 7,3 milliard dollardan pastga tushdi<\/strong><strong>.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Tarkibi:<\/strong><\/span>\n<ul>\n<li><span style=\"font-size: 14pt;\"><strong>$442,3 mln<\/strong><strong> xorijiy markaziy banklar va Xalqaro valyuta jamg\u2018armasi (IMF) hisoblarida.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>$6,75 mlrd<\/strong><strong> chet el tijorat banklarida joylashtirilgan.<\/strong><\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Sabablari:<\/strong><\/span>\n<ul>\n<li><span style=\"font-size: 14pt;\"><strong>Markaziy bankning intervensiyalari<\/strong><strong> (so\u2018m kursini qo\u2018llab-quvvatlash).<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Tashqi qarz bo\u2018yicha to\u2018lovlar<\/strong><strong>.<\/strong><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Qimmatli qog\u2018ozlar:<\/strong><\/span>\n<ul>\n<li><span style=\"font-size: 14pt;\"><strong>Markaziy bank qimmatli qog\u2018ozlardagi ulushini 1,6 million dollarga oshirib, 102,1 million dollarga yetkazdi<\/strong><strong>.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Ushbu kichik o\u2018sish zaxiralarni diversifikatsiya qilish jarayonining asta-sekin davom etayotganini ko\u2018rsatadi.<\/strong><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><span style=\"font-size: 14pt;\"><strong>Tahlil va prognozlar<\/strong><\/span><\/p>\n<ol>\n<li><span style=\"font-size: 14pt;\"><strong> Zaxiralarning tarkibiy nomutanosibligi<\/strong><\/span><\/li>\n<\/ol>\n<ul>\n<li><span style=\"font-size: 14pt;\"><strong>Oltinning 81,7% ulushi rekord darajaga yetdi<\/strong><strong>, bu zaxiralar himoya funktsiyasini kuchaytiradi, lekin narx o\u2018zgarishlariga bog\u2018liq bo\u2018lish xavfini oshiradi.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Oltin zaxiralarning qiymati oshayotgan bo\u2018lsa-da, bunday yuqori ulush pul-kredit siyosatini moslashuvchan boshqarish imkoniyatlarini pasaytiradi<\/strong><strong>.<\/strong><\/span><\/li>\n<\/ul>\n<ol start=\"2\">\n<li><span style=\"font-size: 14pt;\"><strong> Xorijiy valyuta zaxiralari oxirgi 5 yildagi eng past darajaga tushdi<\/strong><\/span><\/li>\n<\/ol>\n<ul>\n<li><span style=\"font-size: 14pt;\"><strong>Xorijiy valyuta zaxiralarining kamayishi Markaziy bankning valyuta bozoridagi imkoniyatlarini cheklashi mumkin<\/strong><strong>.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Ushbu jarayon davom etsa, potensial xatarlar quyidagilardan iborat bo\u2018lishi mumkin:<\/strong><\/span>\n<ul>\n<li><span style=\"font-size: 14pt;\"><strong>So\u2018m kursining beqarorligi ortishi<\/strong><strong>.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Inflyatsiya bosimining oshishi<\/strong><strong>.<\/strong><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ol start=\"3\">\n<li><span style=\"font-size: 14pt;\"><strong> 2025-yil uchun prognoz<\/strong><\/span><\/li>\n<\/ol>\n<ul>\n<li><span style=\"font-size: 14pt;\"><strong>Agar oltin narxlari oshishda davom etsa, zaxiralarning umumiy hajmi ortadi<\/strong><strong>, hatto oltin qo\u2018shimcha sotib olinmasa ham.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Agar xorijiy valyuta zaxiralari kamayishda davom etsa, O\u2018zbekiston tashqi hisob-kitoblarni amalga oshirishda likvidlik tanqisligiga duch kelishi mumkin<\/strong><strong>.<\/strong><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 14pt;\"><strong>Xulosa va tavsiyalar<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>Xulosa:<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>\u2705<\/strong><strong> Yanvar oyida zaxiralarning o\u2018sishi asosan oltin narxining oshishi hisobiga yuz berdi, bu esa mamlakatning jahon qimmatbaho metallar bozoriga qaramligini oshiradi.<br \/>\n<\/strong><strong>\u2705<\/strong><strong> Oltinning zaxiralardagi yuqori ulushi tashqi zarbalardan himoya qiladi, lekin iqtisodiy moslashuvchanlikni kamaytiradi.<br \/>\n<\/strong><strong>\u2705<\/strong><strong> Xorijiy valyuta zaxiralarining qisqarishi Markaziy bankning iqtisodiy muammolarga javob berish imkoniyatlarini cheklashi mumkin.<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>Tavsiyalar:<\/strong><\/span><\/p>\n<ol>\n<li><span style=\"font-size: 14pt;\"><strong>Oltin va xorijiy valyuta zaxiralari o\u2018rtasidagi balansni saqlash<\/strong><strong>.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Valyuta tushumlarini oshirish uchun eksport va xorijiy investitsiyalarni rivojlantirish<\/strong><strong>.<\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><strong>Zaxiralarni diversifikatsiya qilishni davom ettirish<\/strong><strong>.<\/strong><\/span><\/li>\n<\/ol>\n<p><span style=\"font-size: 14pt;\"><strong>Bu yondashuv O\u2018zbekistonga makroiqtisodiy barqarorlikni saqlash va tashqi iqtisodiy chaqiriqlarga samarali javob berish imkoniyatini yaratadi.<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>\u00a0<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>Manba: <a href=\"https:\/\/cbu.uz\/uz\/statistics\/intlreserves\/2156504\/\" target=\"_blank\" rel=\"noopener\">O\u2018zbekiston Respublikasi Markaziy banki<\/a>\u00a0<\/strong><\/span><\/p>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>2025-yil 1-fevral holatiga ko\u2018ra, O\u2018zbekistonning umumiy xalqaro zaxiralari 42,9 milliard AQSh dollarini tashkil etdi, bu esa o\u2018tgan oyga nisbatan 1,72 milliard dollarga (+4,17%) oshganini ko\u2018rsatadi.<\/p>\n","protected":false},"author":1,"featured_media":2888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-4449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/posts\/4449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/comments?post=4449"}],"version-history":[{"count":3,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/posts\/4449\/revisions"}],"predecessor-version":[{"id":4452,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/posts\/4449\/revisions\/4452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/media\/2888"}],"wp:attachment":[{"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/media?parent=4449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/categories?post=4449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/tags?post=4449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}