Georgia’s foreign exchange reserves declined by $ 94 mln

Georgia’s foreign exchange reserves declined by $ 94 mln

access_time2019-10-08 11:22:02

Georgia's reserve assets declined and amounted to  $ 3.602 billion as of October 1, 2019.

According to the National Bank of Georgia (NBG), foreign currency reserves declined  by $ 94 million in September. (01.09.2019 - 3,696 billion).

 

A significant growth is observed in the annual rate . In  October 1, 2018 reserves amounted to $ 3.152 billion which is $ 450 million less than the current figures. Foreign exchange reserves increased by $ 456 million from $ 2,950 billion to $ 3,406 billion.

 

Due to  the inflationary pressure caused by  the lari’s collapse , the central bank has twice provided   $ 40 million for auctions, of which $ 32 million was sold at  the first auction  and $ 40 million at the second.



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