Reserves of Georgia’s central bank at highest rate since 2013
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The volume of reserves of the National Bank of Georgia (NBG) has increased and reached $3.39 billion – the highest rate since 2013.
As of December 31, 2017 the volume of reserves reached $3.39 billion, announced Georgian Public Broadcasting.
Last month reserve assets increased by $40 million from November 2017.
More specifically, foreign exchange reserves increased by $46 million and reached $2.8 billion. As for the amount of the Special Drawing Rights (SDR), this indicator decreased by $6 million and totalled $206 million.
The historic maximum of the NBG’s reserves rate was observed in October 31, 2013 when it totalled $3.110 billion.
New regulations on responsible lending practice set by the National Bank of Georgia (BOG) for commercial banks are coming into force today. The regulations aim to protect consumer rights and bolster healthy credit portfolios at commercial banks.