Economy
Posted:
4 years ago
Georgia’s Currency Reserves Rose by 165.5 million USD in December
Georgia’s reserve assets have increased. According to the National bank of Georgia (NBG), as for December 31, Georgia’s currency reserves made up 3.294 billion USD, up 165.5 million USD compared to November 2019, and up 205.6 million USD compared to December 2018.
Total reserves have also increased. The month on month upturn made up 166.9 million USD and the figure amounted to 3.493 billion USD as for December 31 (3.326 billion USD in November 2019), according to Geostat, the national statistics service of Georgia.
After the GEL exchange rate devaluation in August-November 2019, the NBG sold USD mass at currency auctions three times: 32.8 million USD in August, 40 million USD in September and 20 million USD in November. At the same time, the NBG raised the monetary policy rate from 7.5% to 9%.