Tbilisi (GBC) - Mandatory foreign exchange reserves have increased. According to the statistics of 8 months, there are 4.7 billion GEL reserves of banks in the NBG (7m/2024- 4.288 billion).

Up to 1 billion GEL is placed on the correspondent accounts of the banks in the regulatory body.

The increase in reserves is related to increased foreign currency acquisitions by banks and the increase in dollarization of deposits.

According to the NBG supervisory norms, the reserve requirement for funds raised in foreign currency is 20%. Banks are required to reserve according to the dollarization of the deposit portfolio. The bank has to press the upper limit at the dollarization ratio of 70% or more. Between 40-70%, it decreases proportionally and linearly.

 

BLN

BLN

 

 

Bank of Georgia

2.071.3

1.870

 

 

TBC

1.824.0

1.507

 

 

Basis Bank

0.273

0.209

 

 

Cartu

0.233

0.212

 

 

 

Source: BRG