BAKU, Azerbaijan, October 1
By Tamilla Mammadova – Trend:
Georgia's monetary reserve decreased by 102 million lari ($31.1 million) in August 2020 compared to the previous month and at the end of the reporting period amounted to 4.7 billion lari ($1.4 billion), Trend reports via the National Bank of Georgia.
On average, the cash reserve increased by 27.1 million lari ($8.2 million) compared to the previous month. At the end of the period, the annual growth rate of reserve money was 4.8 percent.
During the reporting period, the National Bank sold foreign exchange interventions for $60 million. According to internal conversion, the net purchase of foreign currency by the National Bank of Georgia in August amounted to $93.7 million. As a result, net foreign assets increased by about $153.7 million.
Funds on state deposits decreased by 101.9 million lari ($31.08 million) in August and amounted to 1.28 billion lari ($390.4 million) at the end of the period.
One-month loans decreased by 310 million lari ($94.5 million), while overnight loans increased by 70 million lari ($21.3 million). At the same time, the balance of the small and medium business liquidity support loan increased by 0.7 million lari ($213,554).
The banks' net debt in the reporting period decreased by 379.1 million lari ($115.6 million) and at the end of the period amounted to 1.85 billion lari ($564.3 million).
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