Foreign exchange reserves in Georgia decrease

Georgia Materials 10 November 2021 15:06 (UTC +04:00)
Foreign exchange reserves in Georgia decrease

BAKU, Azerbaijan, Nov. 10

By Maryana Akhmedova – Trend:

International foreign exchange reserves in Georgia decreased by almost $118 million to $3.9 billion in October 2021, compared to the previous month, the National Bank of Georgia (NBG) said, Trend reports via Georgian media.

According to the NBG, the foreign exchange reserves over the reporting period of 2021 increased by $182 million year-on-year.

The foreign exchange reserves of Georgia account for $3.4 billion out of total reserves.

The NBG has sold $333 million at foreign exchange auctions since the beginning of 2021, of which $60 million at the end of September, after which the NBG has been acting passive on the foreign exchange market.

Meanwhile, Georgia received a reserve asset of $286 million from the International Monetary Fund (IMF) in September 2021.

Against the backdrop of volatility caused by the COVID-19 pandemic, the NBG provided a total of $916 million to the foreign exchange market in 2020.


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