In january 2019 the National Bank of Georgia (NBG) has intervened on foreign exchange market for six times and purchased $85 million USD in total.
These interventions are part of FX reserve building up program. As IMF notes, currently Georgia’s reserves which account for $3 billion USD are below the adequate size. Fund gave a recommendation to NBG to increase the volume of FX reserves. NBG is using interventions to achieve the adequate level of FX reserves.
