...

National Bank of Georgia sees decrease in international reserves

Finance Materials 15 April 2021 17:51 (UTC +04:00)
National Bank of Georgia sees decrease in international reserves

BAKU, Azerbaijan, April 15

Tamilla Mammadova – Trend:

The international reserves of the National Bank of Georgia (NBG) amounted to $4.1 billion as of March 31, 2021, that is $300,000 less than in January 2021, Trend reports via the NBG.

Compared with March 2020, the reserves decreased by $702 million.

Some 95 percent of reserves are denominated in foreign currency, a special loan accounts for 5 percent. Some 61 percent of reserves or $2.38 billion are assets denominated in securities, $1.5 billion - in cash. The National Bank doesn’t own any gold.

A volume of reserves increased by 3.1 percent in the last 5 years - by 67 percent compared with 20 years ago.

In 2020, the National Bank carried out foreign exchange interventions in the amount of $873 million 26 times. In 2021, interventions have been carried out 5 times with the total amount of $188 million.

Since January 2020 the bank has sold currency in the amount of $1.06 billion.

---

Follow the author on Twitter: @Mila61979356

Tags:
Latest

Latest