Bolivia’s reserves rose to $3.93 billion, but gold’s share reached 87% — The Rio Times

Bolivia’s international reserves stood at $3.9328 billion as of September 30, 2026, up 8.7%, or $315.5 million, from the end of June. The increase was primarily driven by gold purchases on the domestic market, The Rio Times reports, citing the Central Bank of Bolivia.

Gold accounts for most of the reserves

Between July and September, the central bank purchased 4.1 tonnes of gold in accordance with Law No. 1503. Gold holdings increased from 22.3 to 25.3 tonnes, with their value estimated at $3.3794 billion.

The share of gold in the country’s international reserves rose from 80% at the end of June to 87% at the end of September. The regulator itself described this concentration level as not recommended and pointed to the need for greater asset diversification. In September, the physical volume of gold increased by one tonne, but its market value fell by $78 million.

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Of the 25.3 tonnes of gold, 14.7 tonnes were held in foreign banks, 8.9 tonnes in the vaults of the Central Bank of Bolivia, and another 1.7 tonnes were in transit. Toronto Dominion Bank held 6 tonnes of gold, while JPMorgan Chase Bank held 1.4 tonnes.

Liquid foreign-currency assets declined

At the same time, foreign-currency reserves used to pay for imports and service external debt decreased by $187.7 million to $474.2 million. This is 28.4% lower than the $661.9 million recorded at the end of June. The central bank attributed the decline to payments on external obligations.

Bolivia places these funds in short-term instruments, primarily U.S. Treasury securities. Assets in the United States account for 68% of foreign-currency reserves, while instruments of supranational lenders account for another 24%.