PM Kobakhidze: Georgia’s foreign exchange reserves reach record $8.14 billion

Georgia’s foreign exchange reserves reached a record $8.14 billion last month, exceeding $8 billion for the first time in the country’s history, Prime Minister Irakli Kobakhidze said at a government meeting.

Kobakhidze said the country’s reserves increased by 56.4% year-on-year and by $613 million compared with the previous month.

“Economic growth gives us the opportunity to replenish foreign exchange reserves, and last month foreign exchange reserves reached a record level. They exceeded $8 billion for the first time in history, reaching $8.14 billion,” Kobakhidze said.

He added the reserve adequacy ratio, measured according to the International Monetary Fund’s methodology, had also improved, reaching 128.2%, above the 100% benchmark.

According to Kobakhidze, the volume of foreign exchange reserves has doubled in less than two years compared with October 2024.

He said the National Bank had continued replenishing reserves in 2026 amid favorable conditions in the foreign exchange market, with net purchases exceeding $2.5 billion in January-July.

Kobakhidze also highlighted steps taken to diversify the country’s reserves, particularly through investments in gold.

He said the National Bank made its first investment in gold in 2024, after which the price of gold increased significantly on international markets, contributing to the growth of total reserves.

“In total, this year the National Bank also purchased monetary gold worth $100 million. Gold accounts for more than 14% of our total reserves,” Kobakhidze said.

The prime minister thanked the National Bank for what he described as its effective work in replenishing and diversifying the country’s foreign exchange reserves.