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currency, international reserves

International Currency Reserves Decline by 30.2 million USD

In September 2016 Georgia’s official international reserves have declined by 30.2 million USD (-1.0%) compared to August 2016, but increased by 393.9 million USD (+16%) year on year and totaled 2.86 billion USD, the National Bank of Georgia (NBG) reports.

Currency interventions have made influence on monthly declination of reserves, G&T reports.

Last week the National Bank of Georgia (NBG) sold 60 million USD at two currency auctions. The NBG has carried out currency interventions 22 times (bought 278 million USD and sold 200 million USD). The GEL value dropped 0.7% week on week, but strengthened by 2.9% YTD in relation to USD.