Georgia’s central bank said its total reserves rose to $4.272 billion as of January 1, 2022, up from $3.911 billion a year ago and from $3.929 billion a month earlier.

The bank’s foreign currency reserves totalled $3.785 on January 1 this year, up from $3.701 on January 1 last year and from $3.441 billion on December 1, 2021.

The central bank sold $332.9 million in currency auctions in 2021, in a move to support the Georgian lari currency. In 2020 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 Georgian lari traded at 3.09 to the U.S. dollar on Tuesday.