BAKU, Azerbaijan, Dec.8
By Tamilla Mammadova – Trend:
This year the National Bank of Georgia (NBG) spent $823 million on foreign exchange interventions, but at the same time, foreign exchange reserves increased by $271 million and amounted to $3.7 billion, Trend reports via the NBG.
The National Bank sold dollars allocated as international aid not using reserves.
At the same time, this figure is not the highest and reflects the dynamics in comparison with September, while as of August 31, international reserves hit a record high of $3.9 billion.
Some 95 percent of reserves are denominated in US currency.
To stabilize the Georgian lari amid its depreciation, NBG sold $20 million at a foreign exchange auction on March 13, $40 million on March 19, and 40 million laris ($13.09 million) on March 25.
On April 27, the National Bank of Georgia sold another $20 million to stabilize the Georgian lari after further depreciation.
The National Bank of Georgia put up $40 million at a foreign exchange auction on June 10; however, only $29.65 million was sold.
On May 21, the bank sold $40 million to stabilize the Georgian lari, on June 18 - $20 million, on July 2- $20 million, on July 22 - $40 million, on August 13 - $20 million, on August 27 - $40 million, on September 16 - $40 million, on September 22 - $40 million, on October 2- $20 million, on October 9 - $30 million, on October 19 - $30 million, on October 22 - $40 million, on October 27 - $40 million, on October 29 - $40 million, on November 2 - $60 million, on November 11 - $37.2 million, on November 18 - $30 million, on November 25 - $46.55 million, on December 3 - $19.82 million.
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