Uzbekistan plans to cut the gold’s share in its gold reserves and purchase U.S. Treasury securities ("Treasuries") This was by the Uzbekistan Finance Minister Jamshid Kuchkarov told the Reuters.
According to Kuchkarov the Uzbekistan Central Bank will buy Treasuries as of 2019 in an attempt to diversify currency reserves.
According to the Central Bank, Uzbekistan’s net foreign exchange reserves as of January 1, 2019 topped US$ 26.39 billion.
Temur Ishmetov, deputy chairman of the Central Bank said: “About half of our reserves are in gold, since we are gold producers. We will gradually cut the share of gold in our reserves and buy U.S. Treasury securities.”
