Georgia's foreign exchange reserves increased by UD 35 million and amounted to USD 4.8 billion in April, the National Bank of Georgia said on Tuesday.
Nearly 11% of the total index of foreign exchange reserves, amounting to UD 529.4 million, comprises monetary gold. It comes after the NBG’s decision on April 9 to add monetary gold to its international reserves for the first time owing to a "record amount" of $1.5 billion purchased in the domestic foreign exchange market.
According to the National Bank, the purchased monetary gold had been “gradually reflected” in the account. Since then the international price of gold has increased “significantly”, which contributed to the increase of the total foreign exchange reserves last month.
