The Central Bank will continue to buy foreign government bonds to diversify its gold and foreign exchange reserves, the Central Bank’s deputy governor, Abror Mirzo Olimov said at a press conference today.
In June, the Central Bank purchased $35 million worth of foreign government securities, and increased their volume in reserves to $101 million the last year. The Bank mostly invested in US Treasury bonds.
“Buying the US securities, which was commenced last year, will be continued this year to diversify Uzbekistan's gold and foreign exchange reserves,” he added.
Abror Mirzo Olimov elaborated that the volume of securities purchased in 2025 will depend on their value and interest rates in the United States. Today, the Central Bank has two types of government bonds — with fixed and floating rates.
According to him, the Central Bank's plans to purchase US Treasury bonds are influenced by the economic situation and the interest rate set by the US Federal Reserve System (FRS).
He added that the regulator had no plans to invest in cryptocurrencies yet.
Uzbekistan's international reserves increased by $6.6 billion to reach $41.2 billion in the end of 2024. The physical volume of gold increased by about 12.4 tons over the year, but foreign exchange reserves decreased.
