Georgian National Bank replenishes reserves with $85.7mln amid currency market stabilisation

The National Bank of Georgia replenished its international currency reserves with $85.7 million in November following a “normalisation” of the foreign exchange market, Imedi TV said on Monday.

The NBG will continue the process of replenishment of reserves under other equal conditions, when the foreign exchange market gives the opportunity to do so”, the channel cited a spokesperson from the Bank as saying.

Imedi TV also said the NBG had provided the information on the replenishment of foreign exchange reserves to the outlet emphasising it was "particularly important to prevent misinterpretations”.

The annual rate of net reserve sales stands at $502.2 million, with the central bank set to release new data on foreign exchange market operations on December 25.