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International reserves of the National Bank of Georgia down

Finance Materials 2 January 2021 18:04 (UTC +04:00)
International reserves of the National Bank of Georgia down

BAKU, Azerbaijan, Jan.2

By Tamilla Mammadova – Trend:

The official international reserves of the National Bank of Georgia (NBG) down $25.9 million in November 2020, Trend reports via the NBG.

According to the National Bank, the decline in international reserves was affected by the National Bank’s foreign exchange interventions and government foreign exchange expenditures.

The National Bank of Georgia carried out four interventions and sold $173.75 million in the foreign exchange market in November 2020.

As of November 30, the total volume of international reserves makes $3.75 billion.

As of December 1, 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 - foreign-controlled banks.

In November 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 1.99 billion lari ($610.4 million), (or by 3.69 percent) and constituted 55.9 billion lari/$17.1 billion (exchange rate effect excluded above-mentioned indicator increased by 2.26 percent).

The banking sector's equity capital equals 5.74 billion lari ($1.7 billion), which makes up 10.27 percent of the commercial banks total assets.

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