diff --git a/CHANGELOG.md b/CHANGELOG.md
index c4ac45ddc0..202b9571a6 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -53,6 +53,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ### Fixes
 
+- [1650](https://github.com/umee-network/umee/pull/1650) Fixes bug with reserves in ExportGenesis
 - [1642](https://github.com/umee-network/umee/pull/1642) Added missing CLI for QueryBadDebts
 - [1633](https://github.com/umee-network/umee/pull/1633) Increases price calculation precision for high exponent assets.
 
diff --git a/x/leverage/types/genesis.go b/x/leverage/types/genesis.go
index df49bb0e21..56fc18bc3b 100644
--- a/x/leverage/types/genesis.go
+++ b/x/leverage/types/genesis.go
@@ -25,6 +25,7 @@ func NewGenesisState(
 		Registry:         tokens,
 		AdjustedBorrows:  adjustedBorrows,
 		Collateral:       collateral,
+		Reserves:         reserves,
 		LastInterestTime: lastInterestTime,
 		BadDebts:         badDebts,
 		InterestScalars:  interestScalars,