National Bank of Georgia (NBG) released data revealing that Georgia’s foreign exchange reserves rose by $224 million in September, reaching $5.42 billion. The figure marks a 15% annual increase or about $715 million higher than the same month last year.
The NBG attributed the growth primarily to its ongoing foreign currency purchases, which have totaled $1.5 billion so far in 2025. Final data on September’s transactions will be published on October 25.
Another factor contributing to the increase was the appreciation of gold prices. The central bank had bought seven tons of gold in early 2024 for $500 million and that portfolio’s value has since risen to $877.8 million. The gain in gold prices added $377.8 million to total reserves, including $91 million in September alone.
Despite remaining $11 million below the historic peak recorded in August 2023, the NBG expects reserves to continue expanding in October as it maintains its strategy of active foreign currency accumulation to enhance Georgia’s financial stability.
