Georgia’s foreign exchange reserves increased by USD 224 million in September, reaching USD 5.42 billion, according to the National Bank of Georgia (NBG). Compared to the same period last year, reserves grew by 15%, or USD 715 million.
The growth was largely driven by significant foreign currency purchases by the NBG, which has bought USD 1.5 billion so far in 2025. The final data for September’s operations will be released on October 25.
Another factor behind the rise is the appreciation of gold prices. The NBG purchased seven tons of gold in spring 2024 for USD 500 million, and the value of this portfolio has since climbed to USD 877.8 million. The increase in gold prices added USD 377.8 million to Georgia’s total reserves, including a USD 91 million rise last month alone.
While reserves remain USD 11 million below their August 2023 peak, further growth is expected in October as the NBG continues to buy foreign currency to strengthen the country’s reserve position.
