The National Bank of Georgia (NBG) has reported an increase in its foreign exchange reserves by $324 million, reaching a total of $4.45 billion.
“Our focus remains on building and diversifying reserves,” said NBG Acting Governor Natia Turnava, emphasizing the bank’s strategy to acquire monetary gold during early 2024 meticulously.
“Our investment in gold has been particularly beneficial, contributing $100 million to reserves due to rising international gold prices,” Turnava said.
She also clarified that the bank is currently optimizing reserve management. “The reserve growth reflects our successful strategies and we predict this trend to continue as well as economic growth projections,” she declared.
For information, the NBG will report its next reserve update on February 7, 2025.
