Georgia's foreign exchange reserves up
Baku, Azerbaijan, Oct.8
By Tamilla Mammadova - Trend:
The reserve assets of Georgia fell to $3.60 billion as of Oct.1, Trend reports citing the National Bank of Georgia.
The statistical data shows that the country’s foreign exchange reserves in September 2019 decreased by $94 million.
This is while, Georgia saw a significant growth annually: its reserves stood at 3.15 billion as of Oct.1, 2018, which is $450 million more than the current level.
As of October 1, the country’s foreign exchange reserves increased by $456 million, from $2950 to $3406 billion.
As a result of inflationary pressures due to the devaluation of the exchange rate, the National Bank put up $40 million for sale twice at foreign exchange auctions, of which $32 million was sold for the first time and $40 million for the second time.