25 currency exchange offices closed in Tbilisi for manipulating foreign exchange rates
The NBG explained that some currency exchange booths had manipulated the foreign exchange rates in the tourist zones of Tbilisi and consciously mislead customers. Photo: Nino Alavidze/Agenda.ge.
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Twenty-five currency exchange offices have been closed and 10 have been fined in Georgia’s capital city of Tbilisi for not abiding by the rule of registration and regulations set by the National Bank of Georgia (NBG) in 2016.
New rules oblige currency exchange booths to provide information about the currency exchange rate and their commission fees, if any.
The NBG explained that some currency exchange booths had manipulated the foreign exchange rates in the tourist zones of Tbilisi and consciously mislead customers.
The NBG stated that it will continue monitoring the currency exchange offices in the country in order to avoid such incidences and protect the rights of customers.
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