Georgian National Bank’s international reserves reduce by over $200 million

Photo: Georgian National Bank’s international reserves reduce by over $200 million / Georgia

Tbilisi, Georgia, Jan. 10
By Nana Kirtzkhalia - Trend:

The international reserves of the Georgian National Bank as of December 31, 2013 amounted to $2.823.4 billion, according to the preliminary data.

This is $207.4 million less than in late November last year, the Georgian National Bank told Trend on Friday. The international reserves converted in foreign currency, hit $2.601.5 billion, including those placed in securities - $1.729.4 billion and on the accounts of foreign banks and the IMF - $872.1 million. The amount of funds placed in SDR is $222 million, while a reserve position in the IMF is $15,400.

The international reserves of the Georgian National Bank decreased by $49.6
million and reached historic highs in 2013.

The Georgian national currency rate reduced from 1.65 lari per dollar to 1.75 lari in December 2013.

Georgian Finance Minister Nodar Khaduri said that the National Bank refused intervention in foreign currency trading to keep the lari rate. Despite this, the National Bank's reserves reduced by more than $200 million in December.

Translated by NH
Edited by SM

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