Georgia's reserve assets hit $1.6bln
Georgia, Tbilisi, Sept. 10 / Trend , N.Kirtzkhalia/
As for Aug. 31, 2009, official foreign currency reserve assets of Georgia, amounted to $1614.4 million, with a $18-million down for a month, the National Bank of Georgia reported.
Foreign reserves dropped by $11.2 million - up to $1 613.1 million, and reserves for special drawing rights decreased from $8.3 million and was $1.5 million.
According to the National Bank, official reserve assets of Georgia, compared to the same period of 2008, increased $491.7 million (on Aug. 31, 2008 amounted to $1 122.9 million), including foreign exchange reserves - by $490.5 million, and reserves for the Special Drawing Right - by $1.2 million.
Drop in foreign exchange reserves in August compared with July 2009 is explained with the government purchase of foreign currency and intervention, made by the National Bank on the foreign exchange market.
Do you have any feedback? Contact our journalist at: [email protected]