Uzbekistan to Outsource Management of $72 Billion Foreign Reserves

Uzbekistan's Central Bank is planning a structural shift in how it handles the country's wealth. As of September 1, 2026, foreign exchange reserves reached $72 billion, and the regulator now intends to move these assets toward external management. From Custody to Yield The current model of reserve accumulation is transitioning. While the $72 billion balance was built through foreign currency sales and economic growth, the Central Bank aims to move beyond mere stockpiling. The goal is to shift from a passive holding strategy to an active investment approach. Starting September 1, 2026, specialized funds will take over the management of these assets. These funds will deploy capital into diversified financial instruments to generate returns, effectively turning the reserve fund into an active investment portfolio.