The main component of this decrease was

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97 GEL, and currently its price is 2.93 GEL. The reason for this is the 6% depreciation of the euro itself against the dollar during the current year. During 2024, the GEL experienced two waves of devaluation, both of which were politically motivated - the first in the spring, which followed the Georgian Dream parliament's return of the Russian law. Then, the value of one dollar rose to GEL 2.


87, although in the subsequent summer months its exchange rate returned to around GEL 2.70. The second wave of devaluation began after November 28, 2024, which followed the statement of Prime Minister Irakli canada business fax list Kobakhidze, elected by the Georgian Dream single-party parliament, that Georgia would not put accession negotiations with the European Union on the agenda until 2028. Georgia's foreign exchange reserves decreased by $1 billion in 2024 During 2024, Georgia's foreign exchange reserves decreased by $1 billion to $4.


1 billion. the implementation of large pre-election interventions by the National Bank, which amounted to $700 million in September-October. In total, during 2024, the NBG sold $917 million and bought $454 million through direct interventions and operations carried out through the Bmatch platform, which means net sales of $463 million. National Bank to add gold to foreign exchange reserves in 2024 In March-April 2024, the National Bank of Georgia purchased 7 tons of monetary gold for $500 million, which was later stored in Georgia.