National Bank of Georgia foreign exchange reserves bolstered by $28.6mln in December

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The National Bank of Georgia on Monday said it had replenished international currency reserves with $28.6 million in December, bringing the country’s international reserves to $4.45 billion as of the end of the month.

The $28.6 million infusion was achieved through interventions on the BMatch trading platform of Bloomberg, and was “in line with current conditions in the foreign exchange market”, it added.

International currency reserves are an important guarantor of the macroeconomic stability of the country. Consequently, the NBG consistently focuses on replenishing these reserves. This commitment is reflected in the Bank’s stated policy, which indicates that when market conditions permit, the central bank will increase the country’s international reserves”, the body said.

The NBG will release updated data on foreign exchange market operations on February 25.



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