The main component of this decrease

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likhon450@
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The main component of this decrease

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87, although in the subsequent summer months its exchange rate returned to around GEL 2.70. The second wave of devaluation began after November 28, 2024, which followed the statement of Prime Minister Irakli Kobakhidze, elected by the Georgian Dream single-party parliament, that Georgia would not put accession negotiations with the European Union on the agenda until 2028. 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. 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 list of france fax number through direct interventions and operations carried out through the Bmatch platform, which means net sales of $463 million. National Bank to add gold to foreign 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 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.
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