As of July 31, 2023, the volume of Georgia’s forex reserves stood at $5.43 billion that is $1.27 billion more than in the same period of the previous year, since the beginning of the year, the reserves have increased by $537 million.
Statistics show that in 6 months of 2023, the National Bank bought reserves in the amount of $1.06 billion. Including, the volume of purchases in June totaled $138 million. The largest intervention in the amount of $322 million was carried out in April.
At the foreign exchange auction held on June 2, NBG sold $17 million. Net purchases in the first half of the year amounted to $1.06 billion.
According to the NBG Acting President Natia Turnava, today the bank has sufficient reserves, but there is an opportunity to replenish the reserves, and NBG will do it only in case of favorable conditions.
