BAKU, Azerbaijan, July 11. Georgia’s international reserves as of June 30, 2023, amounted to $5 million, Trend reports.
According to the National Bank of Georgia, reserves increased by $65.3 million in June of this year, and by $165.2 million since the beginning of the year. Analysts believe that the change in the volume of reserves is due to foreign exchange transactions of the government and the banking sector, as well as the acquisition of foreign currency by the National Bank of Georgia.
The international reserves of the National Bank of Georgia reached the highest value on April 30, 2022, amounting to $5.1 million. In 2022, reserves increased by $628.1 million, and in 2021 — by $361.3 million.
The main part of the reserves of the National Bank is represented by international reserves, mainly in foreign currency, and their amount is $4.6 billion. These funds include investments in securities ($3.7 billion) and currency held in foreign bank accounts and in the International Monetary Fund ($0.9 billion).
Moreover, the structure of foreign exchange reserves includes funds placed in special drawing rights in the amount of $463.3 million, as well as a reserve position in the International Monetary Fund, amounting to $29,000.
The National Bank of Georgia does not own gold reserves. The value of other assets in the structure of foreign exchange reserves is $658,600.