Georgia’s central bank said its total reserves declined to $3.929 billion as of December 1, down from $3.959 billion a month earlier, but rose from $3.751 billion a year ago.
The bank’s foreign currency reserves totalled $3.441 on December 1, down from $3.468 on November 1 this year and from $3.554 billion on December 1, 2020.
The central bank sold $332.9 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 Georgian lari traded at 3.09 to the U.S. dollar on Wednesday.