The National Bank of Georgia on Wednesday said it had replenished international currency reserves with $124.5 million in November, bringing the nation's international reserves to $4.1 billion as of the end of the month.
The $124.5 million infusion was achieved through interventions on the BMatch trading platform of Bloomberg, with the figures for the year are as follows:
January - net acquisition of $8.1 million
February - net acquisition of $77.5 million
March - net acquisition of $127.9 million
April - net acquisition of $73.1 million
May - sales totalling $108.7 million with foreign exchange auctions; Bmatch net sales of $9.1 million
June - Sale of $60 million via foreign exchange auction; Bmatch net sales of $42 million
July - net purchases of $1.9 million
August - net acquisition of $41 million
September - net sales of $106.5 million
October - sale of $213.4 million with currency auction; Bmatch net sales of $377.7 million
November - net purchase of $124.5 million.
International currency reserves are an important guarantor of the macroeconomic stability of the country. Consequently, the NBG consistently focuses on replenishing these reserves. This commitment is reflected in the Bank's stated policy, which indicates that when market conditions permit, the central bank will increase the country's international reserves”, the body said.
