International Foreign Exchange Exceeded $1,5 Billion

International Foreign Exchange Exceeded $1,5 Billion

International foreign exchange reserve of Georgia reached another historical maximum and totaled exceeded $1 billion 511 million. BLACK SEA PRESS was told it in the National Bank of Georgia (NBG).

 

Since 2007, international foreign exchange reserve was increased by 71,3%.

In the end of 2006, international foreign exchange reserve of Georgia totaled $882 million, about twice more than the index of 2005 (international exchange reserve of Georgia made $478,6 million as of 31 December 2005).

 

International exchange reserves are placed in reliable, liquid and profitable assets, i.e. in low-risk securities and high-rank foreign commercial banks.

 

 

Auctions Announced On Sale Of Tbilisi Sulphur Baths

 

The Ministry of Economic Development of Georgia announced auctions on sale of Tbilisi sulphur baths – Chreli Abano (Varicoloured Bath), Gogirdis Abano (Sulphur Bath) and Samepo Abano (Royal Bath). BLACK SEA PRESS was told it at the Ministry of Economic Development of Georgia. 

 

Start price of the building-construction and of the land lot of Chreli Abano in 2, Abano Street totals $1 million. The area of the land lot makes 784 square meters.

 

Start price of Gogirdis Abano in 2, Abano Street totals $650,000. The area of the building-construction makes 221 square meters, and of the land lot - 395 square meters. 

 

Start price of Samepo Abano in 1, Grishashvili Street totals $500,000. The area of the building-construction makes 500 square meters, and of the land lot - 673 square meters. 

 

The interested persons are free to present the applications in the Ministry of Economic Development since 25 September till the deadline of 5 p.m. on 25 October 2007. The competition will take place on 25 October at 5:30 p.m.

 

The criterion for winner at the auction on sale of Chreli Abano – proposal of the maximal price for the object that is to be not less than the start price with consideration of GEL 20,000 auction step as well as meeting demands of the competition.

 

Under terms of the auction, winner of the auction must pay the cost of the privatized property during a month. Besides, the investor must reserve the type of the object for 10 years. During a month after entering in the contract on purchase, the investor must enter in the Agreement on protection of the memorial with the Culture, Sports and Monuments Protection Ministry of Georgia.

 

The criterion for winner at the auctions on sale of Gogirdis Abano and Samepo Abano – proposal of the maximal price for the object that is to be not less than the start price with consideration of GEL 10,000 auction step

 

During September, GEL Rate Against US Dollar Improved By 0,004 Points

 

During September, GEL rate against US dollar improved by GEL 0,0040, by GEL 0,0015 less than the same index of August. BLACK SEA PRESS was told it at TICEX.

 

Since start of the reporting month, GEL rate was improved from $1/GEL1,6620 to $1/GEL1,6580 in the end of the month. In September, GEL rate against US dollar reduced once only – from $1/GEL1,6590 to $1/GEL1,6620 on 20 September. Since 28 September, the rate was improved to up to $1/GEL1,6580.

 

In September, 83 deals were made at TICEX, by 17 deals less than in August. The total amount of the deals totaled $117 804 600, or by $6 346 400 less than in August.

 

The maximal amount of the deals was fixed on 3 September and totaled $22 300 000. During the month, minimal deal was done on 7 September. The amount of the deal made $220 000.

 

Commercial banks participated in 88 deals in September (99 – in August). They acted as sellers 72 times (83 – in August), while as buyers – 16 times (22 – in August). The National Bank of Georgia (NBG) participated in tenders 17 times during the month (19 – in August). 16 times it acted as buyer (18 – in August) and 1 time as seller.

 

The NBG bought $92 760 000 and sold $885 000 in September. The same indexes of August made $101 531 000 and $8 135 000, respectively.


 

Author: The FINANCIAL