As of July 31, the volume of Georgia's foreign exchange reserves amounted to USD 5.43 billion, which was USD 1.27 billion more compared to the same period of the previous year, since the beginning of the year, the reserves increased by USD 537 million.
The increase in reserves is related to the policy of the NBG. According to statistics, in the 6 months of 2023, the National Bank bought reserves of USD 1.06 billion. Including, the volume of purchases in June totaled to USD 138 million. The largest - USD 322 million intervention was carried out in April, and in May the exchange rate began to depreciate, due to which the NBG had to sell funds in the opposite direction and sold USD 17 million at the foreign exchange auction held on June 2. Accordingly, net purchases in the first half of this year amounted to USD 1.06 billion.
The National Bank buys dollars as part of the foreign exchange reserve replenishment policy. According to the acting president of the NBG, Natia Turnava, the National Bank purchases dollars when there is a positive situation in the foreign exchange market.
