Georgia’s National Bank said its total reserves rose slightly to $4.101 billion as of April 1, up from $4.076 billion a month earlier and from $3.400 billion a year ago.
The bank’s foreign currency reserves totalled $3.894 on April 1, up from $3.867 on March 1 this year and from $3.203 billion on April 1, 2020.
The National Bank sold $187.5 million in currency auctions since the beginning of this year, in a move to support the Georgian lari currency. Last year the bank sold $873.2 million on the market as lari had been depreciating throughout the year to 3.2766 to the U.S. dollar on December 31, 2020 from 2.8661 on January 1, 2020.
The GEL traded at 3.4260 to the U.S. dollar on Friday.