The National Bank of Georgia (NBG) bought USD 2019.6 million through the Bloomberg platform Bmatch in March, which hit a record high. In 1Q2023, the amount of foreign exchange purchases by the NBG amounted to USD 460.5 million.
In the same period, the national currency had a strengthening tendency. From January 1 to March 31, GEL strengthened by 5.5% against the USD.
The purchases made by the NBG through the Bmatch platform are one of the reasons why the foreign exchange reserves of Georgia reached USD 4.9 billion. Over the past year, the volume of reserves has increased by USD 630 million, or by 15%.
The National Bank increased foreign exchange purchases through the Bmatch platform in 2Q2022, which was associated with increased cash inflows into the country. It is about increased income from tourism, remittances, exports and other sources.
Last year, the National Bank bought USD 578 million through Bmatch.
