Georgia’s National Bank said its total reserves rose to $4.154 billion as of June 1, up from $4.136 billion a month earlier and from $3.593 billion a year ago.
The bank’s foreign currency reserves totalled $3.946 on June 1, up from $3.927 on May 1 this year and from $3.403 billion on June 1, 2020.
The National Bank sold $242.9 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 3.16 to the U.S. dollar on Tuesday.