Georgia to allocate approximately 5 percent of reserves into yuan

The National Bank of Georgia has decided to diversify its international reserves with the yuan. According to Georgian media, the National Bank's Governor, Natia Turnava, announced her intention to hold approximately 5% of the funds in yuan.

Turnava noted that Georgia is following a global trend observed since 2017, when the European Union first included the yuan in its reserves, followed later by Japan, Australia, and Switzerland. She also pointed out that the yuan has long been part of the IMF's Special Drawing Rights (SDR) basket, alongside the dollar, euro, yen, and pound sterling.

The National Bank chief added that gaining access to China's interbank bond market would represent a significant step forward in the development of Georgia's investment strategy.