Tbilisi (GBC) - As of 01.10.2024, the country's reserve assets amounts to $4.671 billion. Of this, $603.5 million is in gold and $3.635 billion - in foreign currency reserves.

Official international reserves fell by more than $100 million in September, following a $167 million increase in August.

Net purchases with foreign exchange interventions, foreign currency credits received by the government, interest income on reserves and monetary gold revaluation are all factors that increase reserves.

In August, with internal government conversions in the banking system, the net foreign exchange sales of the National Bank amounted to 61.6 million US dollars. The National Bank did not intervene through currency auctions. $41 million in net purchases by the NBG on the BMatch platform. If the balance remains positive even in September, we will find out at the end of September, after the NBG publishes the information.

In total, BMatch trades and government conversions reduced net foreign assets by approximately $20.6 million. In August, the funds available on government deposits increased by 20.2 million GEL to 1,002 billion GEL.

According to interactive statistics, it is only established that in September the financial system lost more than 200 million GEL of liquidity. 400 million with government operations.

The value of gold in reserves exceeded $600 million. In relation to foreign exchange reserves, monetary gold, which the ECB added in March this year**, is already over 16%. The share in total reserve assets ($4.6 billion) is up to 13%.

Gold has become more expensive globally. According to analysts, increased purchases by central banks make the precious metal more expensive. Also the activation of Asian investors, especially Chinese investors.

The rise in gold prices is also typical for the pre-election period. Elections are approaching in various countries, including in the USA. Some investment banks predict the price of gold to $2,700 by 2025.

The global trend was also reflected in the Georgian market. The period is also pre-election.

Assets

 Reserves

Gold

 

$ 5 121 730,500

 $4 658 279,700

  ----

12/2023  

$ 5 009 602,400

 $4 553 724,900

----

 01/2024    

$ 4 853 202,400

 $4 386 587,700

----

 02/2024  

$ 4 746 320,900

 $4 295 521,400

----

 03/2024

$ 4 776 893,900

 $3 994 734,300

332 152 500

 04/2024 

$ 4 814 276,100

 $3 839 217,700

529 405 700

 05/2024 

$ 4 599 953,500

 $3 601 234,400

538 871 700

 06/2024

$ 4 580 962,900

 $3 586 673,300

534 890 300

 07/2024

$ 4.671.493.000

 $3 646.414.000

556 782 500

 08/2024

$ 4.838.538.000

 $3 794.810.800

576 758 500

 09/2024

$ 4.712.421.000

 $3 635.300.000

603 515 700

 10/2024

 

Source: BRG