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Net Foreign Assets Increased by 130 mln USD in May 2016

Net Foreign Assets Increased by 130 mln USD in May 2016

As a result of the National Bank‘s interventions, net foreign assets increased by $ 130 million in May 2016, and the National Bank of Georgia (NBG) purchased $ 140 million in the foreign exchange auction.

Through the government’s internal conversions, total net foreign exchange sales of NBG in May amounted to $ 10.0 million.

Government deposits decreased by 2 million and reached 617.4 million GEL. During the reporting period, 40 million certificates of deposit were held and 60 million was paid.

Commercial banks were using refinancing loans. The balance of issued loans under this instrument decreased by 470 million GEL (m.m) and remained 250 mln GEL.

Overnight loan balance amounts to 26.3 million GEL.

During the reporting period, the commercial banks’ net debt lowered by 425.5 million, and became 98.1 million GEL.