Mikabadze: The transaction between Rico Express and TBC Capital is a testament to the development of the capital market

Foreign exchange reserves serve as a vital safeguard for the country’s macroeconomic stability. Consequently, the NBG remains steadfastly focused on rebuilding its reserves, as reflected in the bank’s stated policy. Whenever market conditions permit, the central bank actively boosts the country’s international reserves.Specifically, during August, the NBG replenished foreign exchange reserves by USD 555.6 million through interventions on the Bmatch platform. Total net purchases from January to August 2026 reached USD 3,122.2 million.Foreign exchange interventions conducted by the NBG in 2026 began in January with net Bmatch purchases of USD 86.6 million, rising sharply in February to USD 429.3 million. March recorded net sales of USD 16.2 million, before returning to net purchases in April at USD 333.3 million, May at USD 632.9 million, June at USD 612.6 million, July at USD 488.2 million, and August at USD 555.6 million.The National Bank of Georgia will release updated data regarding its foreign exchange market operations on 26 October 2026.

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The meeting was held on the sidelines of the Regional Central Bank Governors’ Roundtable.The parties discussed prospects for further deepening cooperation between the two central banks. Particular attention was devoted to the development of payment systems and opportunities for sharing knowledge and practical experience in this area.The parties noted that continued dialogue and the exchange of information would contribute to the development of modern, efficient, and secure payment systems and financial services. During the meeting, the parties agreed to sign a Memorandum of Understanding.Ekaterine Galdava, Vice-Governor of the National Bank, attended the meeting with the Governor of the Central Bank of Bosnia and Herzegovina. 

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The meeting took place on the sidelines of the Regional Central Bank Governors’ Roundtable held in Tbilisi.The parties discussed prospects for further deepening cooperation between the two central banks. During the meeting, a Memorandum of Understanding was signed, establishing a new framework for the exchange of expertise and best practices.The Memorandum provides for cooperation and knowledge sharing in the areas of monetary policy, international reserve management, payment systems, financial services development, and the regulation and supervision of financial institutions.

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The Global Fintech Fest is a major international fintech event that brings together representatives of financial technology, the banking sector, regulatory institutions, investors and technology companies from around the world.As part of the event, Ekaterine Galdava participated as a speaker in the panel discussion titled “Building Trust in Cross-Border Payments.” The discussion focused on the development of secure, reliable, and efficient cross-border payments, including the interoperability of payment systems and improving the speed and transparency of payments. It also addressed strengthening links between payment infrastructures across different jurisdictions.Ekaterine Galdava presented Georgia’s experience and the implemented and ongoing reforms aimed at modernizing the country’s payment infrastructure. The discussion highlighted the implementation of the modern RTGS system, the transition to the ISO 20022 standard, the development of the instant payment system, and prospects for the future connectivity and interoperability of Georgia’s payment infrastructure with international systems.Natalia Chkoidze, Head of the Payment Systems Department of the NBG, and Natia Chkonia, Deputy Head of the Consumer Protection Department, also participated in the Global Fintech Fest.During the event, representatives of the NBG held high-level meetings with senior representatives of the Reserve Bank of India (RBI), NPCI International Payments Limited (NIPL), and PhonePe, one of India’s leading fintech companies. The meetings addressed current issues related to the development of payment systems, as well as opportunities for future cooperation and exchange of experience, particularly in the areas of instant and cross-border payments, modern payment infrastructure, and the development of innovative payment services.

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In total, 3,388 residential apartments were sold in Tbilisi in August, an 18.9% increase compared to the same period last year. The market volume grew by 35.2%, reaching $297 million.Sales growth was particularly notable in new developments (+23.7%), reflecting increased market supply. Colliers estimates that the Samgori and Didi Dighomi districts accounted for the largest share of this growth.At the same time, apartment prices have also risen. Compared to August of the previous year, the weighted average sale price of newly built apartments: Increased by 16.7% in the city center; By 16% in the extended city center; By 10.4% in the suburbs. A Different Trend in Batumi Unlike Tbilisi, where local buyers predominate, the situation in Batumi is the opposite. According to Colliers data, the share of foreign buyers in Batumi’s old and new projects surpassed that of Georgians in August, reaching 52% (in July, the share of foreigners was 48%, while Georgians accounted for 50%).A total of 1,235 residential apartment transactions were registered in Batumi in August-a 4.3% decrease compared to August of the previous year-yet the total market size grew by 2.9%, reaching 81 million USD.

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The highest increases were recorded in Imereti, Racha, and Samegrelo-Zemo Svaneti—15.1%, 13%, and 12.8%, respectively.In Imereti, the average price for 4-star hotels hovered around 250 GEL, while the average for family-run guesthouses and 3-star hotels was around 150 GEL.In Racha, prices for 3- and 4-star hotels were in the 250 GEL range, while rates at family-run guesthouses ranged from 100 to 150 GEL.As for Samegrelo-Zemo Svaneti, the price of 4-star hotels exceeded 300 GEL, the average price for 3-star hotels was 200 GEL, and the average rate at family-run guesthouses was slightly above 100 GEL. In August 2026, the average price for family-run hotels was 134 GEL; for 3-star hotels, it was 203 GEL; and for 4-star hotels, it was 298 GEL.During the same period, the average price for 5-star hotels in Georgia was 598 GEL. The highest average prices were recorded in Guria (1,081 GEL), Kakheti (684 GEL), and Tbilisi (668 GEL).The study is published by PMCG. The analysis covers a stratified sample of 568 hotels (categorized as 3, 4, and 5-star) and 371 family-run hotels registered on Booking.com. Average prices are calculated based on the hotels available during the current month.

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The meeting took place on the sidelines of the Regional Central Bank Governors' Roundtable held in Tbilisi.During the meeting, the parties discussed opportunities to further deepen cooperation between the National Bank of Georgia and J.P. Morgan. They also reviewed the regional macroeconomic environment and ongoing trends within the financial sector.Particular attention was given to the Regional Central Bank Governors' Roundtable, co-hosted by the National Bank of Georgia and J.P. Morgan. The participants underscored the importance of this inaugural regional event, which served as a unique platform for central bank leadership and international financial community to exchange insights and address mutual priorities.

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During the meeting, the parties discussed prospects for further deepening cooperation in the financial sector between Georgia and China. Particular emphasis was placed on cooperation in developing financial services and exploring opportunities to strengthen ties between the commercial banks of the two countries.It was noted that, against the backdrop of growing trade and economic relations between Georgia and China, the development of corresponding financial infrastructure and services is particularly important for further strengthening economic ties between the two countries.The parties also discussed their mutual interest in strengthening cooperation between Georgian and Chinese commercial banks. It was highlighted that active collaboration between Chinese financial institutions and Georgian commercial banks, including in the area of correspondent banking relations, is already underway. Both sides expressed readiness to further deepen this cooperation.Nino Jeladze emphasized that the National Bank of Georgia places great importance on strengthening cooperation with international financial institutions and creating new opportunities for the Georgian financial sector."Trade and economic relations between Georgia and China are growing; therefore, it is vital that this process is accompanied by the strengthening of financial ties and the development of modern financial services. The meetings held within the framework of CIFIT present a valuable opportunity for representatives of the Georgian and Chinese financial sectors to discuss specific areas of cooperation," stated Nino Jeladze.During her visit to China for CIFIT 2026, the NBG Vice Governor also met with Wang Hongbo, Chairman of the Cross-Border Interbank Payment System (CIPS), to discuss current and future cooperation. The parties also reviewed progress in cooperation among the Georgian financial sector, the National Bank of Georgia, and CIPS.

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