BAKU, Azerbaijan, Feb.1
By Tamilla Mammadova – Trend:
The amount of reserve money in Georgia increased by 276.9 million lari ($84.09 million) In December 2020, compared to the previous month, and at the end of the reporting period amounted to 5.2 billion lari ($157.9 million), Trend reports via the National Bank of Georgia (NBG).
On average, the monetary base decreased by 54.4 million lari ($16.5 million) compared to the previous month. At the end of the period, the annual growth rate of reserve money was 12.5 percent
In the reporting period, the National Bank sold foreign exchange interventions for $49.8 million. According to the internal conversion, the net purchase of foreign currency by the National Bank of Georgia in December amounted to $17.1 million. As a result, net foreign assets fell by about $32.7 million.
During this period, commercial banks used refinancing loans. At the end of the reporting period, the balance of loans issued under this instrument increased by 240 million lari as compared to the previous month and amounted to 2.15 billion lari ($652.9 million). The one-month loan did not change and amounted to 400 million lari ($121.4 million), while the overnight loan decreased by 330.7 million lari ($100.4 million).
The balance of the SME liquidity support loan increased by 133 million lari ($40.3 million). The banks' net debt in the reporting period increased by 62.2 million lari ($18.8 million) and at the end of the period amounted to 3.15 billion lari ($).
In December 2020, the M3 unit increased by 1.51 billion lari ($458.5 million) to 30.5 billion lari ($956.5 million) by the end of the month. The annual growth rate was 23.6 percent. During the reporting period, deposits in foreign currency increased by 499.4 million lari ($151.6 million) and amounted to 16.8 billion lari ($5.1 billion) at the end of December. During the same period, the number of deposits in national currency increased by 832.6 million lari ($252.8 million) and amounted to 9.9 billion lari ($3 billion). The indicator M2 of broad money increased by 8 percent over the reporting period.
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