Optimism in currency reserves
By Messenger Staff
Monday, January 5Despite the Russian aggression and world economic crisis the NBG disseminates the information that the country greets 2009 with a record amount of hard currency reserves. On January 1, 2009 the country’s hard currency reserves were USD 1.46 billion, 7% more than at the beginning of last year.
Currency reserves are accrued by interbank sales and state currency inflows. At the beginning of 2008 currency reserves were increased through private sector activities. The second half of the year saw state grants and credits fill the reserves pot.
Georgia’s national currency reserves are held in top European and US banks, as deposits and high liquidity bonds.