National Bank to add gold to foreign
Posted: Thu Jan 02, 2025 9:10 am
Georgia's foreign exchange reserves decreased by $1 billion in 2024 During 2024, Georgia's foreign exchange reserves decreased by $1 billion to $4.1 billion. The main component of this decrease was the implementation of large pre-election interventions by the National Bank, which amounted to $700 million in September-October. In total, during 2024, the NBG sold $917 million and bought $454 million through direct interventions and operations carried out through the Bmatch platform, which means net sales of $463 million.
exchange reserves in 2024 In March-April 2024, the National Bank of Georgia purchased 7 tons of monetary gold for $500 million, which was then stored in Georgia. The price of gold has increased sharply over ireland business fax list the past year, which means that the gold in foreign exchange reserves is worth $100 million more than it was at the time of purchase.
In addition to monetary gold, this year the NBG also traded in gold certificates and gold bars, selling $45 million worth of bars on the local market in this way. The government has selected the Chinese consortium CCCC to implement the Anaklia Deepwater Port project. The Georgian government named the Chinese state-owned corporation CCCC as the preferred bidder in the international competition announced in May 2024 to select an investor for the Anaklia Deepwater Port.
exchange reserves in 2024 In March-April 2024, the National Bank of Georgia purchased 7 tons of monetary gold for $500 million, which was then stored in Georgia. The price of gold has increased sharply over ireland business fax list the past year, which means that the gold in foreign exchange reserves is worth $100 million more than it was at the time of purchase.
In addition to monetary gold, this year the NBG also traded in gold certificates and gold bars, selling $45 million worth of bars on the local market in this way. The government has selected the Chinese consortium CCCC to implement the Anaklia Deepwater Port project. The Georgian government named the Chinese state-owned corporation CCCC as the preferred bidder in the international competition announced in May 2024 to select an investor for the Anaklia Deepwater Port.