Monetary base of Georgia increases
BAKU, Azerbaijan, Nov. 3
By Tamilla Mammadova – Trend:
The volume of reserve money increased by 300.7 million lari ($93.3 million) or by 6.3 percent in September 2020, compared to the previous month in Georgia and at the end of the reporting period amounted to 5 billion lari ($1.5 billion), Trend reports via the National Bank of Georgia (NBG).
Compared to the previous month, the monetary base increased by 122 million lari ($37.8 million) or by 2.5 percent. At the end of the period, the annual growth rate of reserve money was 10.5 percent.
During the reporting period, the National Bank sold $144.9 million in foreign exchange interventions.
According to the internal conversion, net purchases of foreign currency by the National Bank of Georgia in September amounted to $5.7 million, as a result of which net foreign assets decreased by approximately $150.6 million.
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