**National Bank of Georgia Sells Record Amount of Dollars**
The National Bank of Georgia (NBG) sold a record $591 million in US dollars in October. This is the highest amount ever sold by the bank in a single month.
In total, the NBG sold $213.4 million at an auction and $377.7 million on the Bmatch platform. The bank had to sell its reserves four times in October to prevent the national currency from devaluing amid a tense election climate.
**Concerns Over Foreign Exchange Reserves**
Former president of the NBG, Roman Gotsiridze, has expressed concern that frequent and large sales of foreign exchange reserves could put them at risk. He warned on social media that the two-month long illegal election campaign had depleted the country‘s foreign exchange reserves.
The data shows that in the first ten months of this year, the NBG sold $917 million and purchased $329 million. This resulted in net sales of $588 million.
**Breakdown of Sales**
Here is a breakdown of the NBG’s sales over the past year:
* January: purchase of $8.1 million on Bmatch
* February: purchase of $77.5 million on Bmatch
* March: purchase of $127.9 million on Bmatch
* April: purchase of $73.1 million on Bmatch
* May: sale of $108.7 million at auction and sale of $9.1 million on Bmatch
* June: sale of $60 million at auction and sale of $42 million on Bmatch
* July: purchase of $1.9 million on Bmatch
* August: purchase of $41 million on Bmatch
* September: sale of $106.5 million on Bmatch
* October: sale of $213.4 million at auction and sale of $377.7 million on Bmatch
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