Tbilisi (GBC) - Foreign exchange reserves increased by $36 million in April and will exceed $4.8 billion as of 01.05.2024.

The share of monetary gold in foreign exchange reserves is up to 11% - $529.4 million. The NBG has added monetary gold to its foreign exchange reserves from March.

"The monetary gold purchased by the National Bank was gradually reflected in the account, which was completed at the beginning of April. Since then, the international price of gold has increased significantly, which significantly contributed to the increase of the total foreign exchange reserves in the month of April," said Giorgi Laliashvili, Head of the Financial Markets Department of the NBG.

The NBG purchased $0.5 billion of 7 t 999.9 grade monetary gold - in the form of bars of international standards - in London.