BAKU, Azerbaijan, June 1
By Tamilla Mammadova - Trend:
The amount of reserve money in Georgia decreased by 5.5 million lari ($1.7 million) or by 0.1 percent in April 2020 compared to March 2020, and amounted to 4.7 billion lari ($1.4 billion), Trend reports citing National Bank of Georgia.
In the reporting period, the monetary base increased by 371.4 million lari ($116.9 million) or by 8.4 percent. By the end of the period, the annual increase in reserve money amounted to 34.9 percent.
During the reporting period, the National Bank sold $25 million in foreign currency.
Net foreign currency sales of the National Bank of Georgia in April amounted to $26.9 million. As a result, net foreign assets declined by about $51.9 million.
In April, funds on state deposits increased by 242.3 million lari ($76.2 million) compared to March 2020 and amounted to 1.19 billion lari ($374.6 million) at the end of the period. During this period, commercial banks used refinancing loans.
The monthly loan increased by 30 million lari ($9.4 million) by the end of April and amounted to 400 million lari ($125.9 million). The net debt of banks for the reporting period decreased by 91.6 million lari ($28.8 million) and at the end of the period amounted to 2.96 billion lari ($931.8 million).
The amount of reserve money for the month decreased by 5.5 million lari ($1.7 million). The overnight balances of commercial banks were reduced to 93.1 million lari ($29.3 million).
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