Georgia’s central bank said its total reserves declined to $4.078 billion as of February 1, 2022, down from $4.272 billion a month ago and from $4.102 billion a year earlier.

The bank’s foreign currency reserves totalled $3.590 on February 1 this year, down from $3.785 on January 1 this year and from $3.891 billion on February 1, 2021.

The central bank sold $332.9 million on currency auctions in 2021, in a move to support the Georgian lari currency. It did not intervene on the market since the beginning of this year.

The Georgian lari traded at 2.92 to the U.S. dollar on Tuesday.