Alexander Khazaradze on the NBG’s direct investments into CNY
Georgian central bank’s financial markets head speaks about investing up to 5% of reserves into onshore renminbi
What explains the timing of the decision to invest directly into the renminbi market?
The National Bank of Georgia’s approach has been gradual and capacity driven. We made our first indirect investments in CNY back in 2021 and the current step, of moving to direct investments in Chinese government bonds (CGBs), is an evolutionary upgrade in FX reserve management capacity into one of the world’s largest bond markets. This is also consistent with the broader trajectory of reserve management
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