BAKU, Azerbaijan, June 11
By Tamilla Mammadova – Trend:
The international reserves of the National Bank of Georgia increased by $17.2 million in a month as of May 31, 2021, and amounted to $4.15 billion, which is a historical maximum, Trend reports with reference to the National Bank of Georgia.
Since the start of the coronavirus pandemic, since March 2020, international reserves have grown by $753.9 million, or 22.2 percent. Since the beginning of this year, the growth of reserves amounted to $242.9 million.
International reserves converted into foreign currency are the main part of the National Bank's reserves and amount to $3.9 billion.
Their structure includes funds placed in securities - $2.7 billion, and currency stored in the accounts of foreign banks and the IMF - $1.2 billion.
In addition, the reserves of the National Bank include funds placed in special means of borrowing (SDR) - $209.9 million, and the reserve position in the IMF is $31,500. The National Bank of Georgia does not store funds in gold.
National Bank President Koba Gvenetadze said that the regulator plans to intervene to stabilize the market.
"I announce that this year we will spend reserves to stabilize the lari exchange rate," Gvenetadze said.
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