National Bank of Georgia sells $20 mln amid Georgian lari depreciation
The weighted average exchange rate amounted to 2.9699 lari, says the NBG. Photo: Nino Alavidze/Agenda.ge.
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The National Bank of Georgia has sold $20 mln today amid Georgian lari depreciation, announces the National Bank of Georgia.
The weighted average exchange rate amounted to 2.9712 lari, says the NBG.
The depreciation of the exchange rate has boosted inflationary expectations, the NBG says.
The National Bank of Georgia (NBG) has also sold $40 million at an exchange auction on September 27, 2019 and $32.8 million at an exchange auction on August 1 as the Georgian lari continued to depreciate.
The National Bank of Georgia (NBG) has increased the refinancing rate by 0.5 percentage points to 7 per cent on September 4, and then again by 0.5 to 7.5 per cent on September 25 and to 8.5 per cent on October 23.
Since October 17, 2019 the National Bank of Georgia (NBG) has decreased the minimum foreign currency reserve requirements for commercial banks in Georgia from a mandatory 30 per cent to 25 per cent, which should allow commercial banks to lend the freed up five per cent – about $700 million.
The National Bank of Georgia (NBG) has decreased the minimum foreign currency reserve requirements for commercial banks in Georgia from a mandatory 30 per cent to 25 per cent, which will allow commercial banks to lend the freed up five per cent – about $700 million.
The National Bank of Georgia (NBG) has sold $40 million at an exchange auction on September 27, as the Georgian lari continues to depreciate. The National Bank of Georgia (NBG) increased the refinancing rate by 0.5 percentage points to 7.5 per cent on September 25.
The National Bank of Georgia (NBG) sold $32.8 million on exchange auction earlier today as the Georgian lari continued to devalue. One US dollar cost 2.97 GEL as of today, while based on NBG forecast, it will cost about 2.93 tomorrow.
The National Bank of Georgia (NBG) plans to sell $40 million on exchange auction tomorrow as the Georgian lari continues to devalue. In a statement released on July 31, the NBG said “despite the positive internal and external macroeconomic dynamics” today’s exchange rate has reached a level “that might pose a risk to price stability” amid “the tourism-related shocks and negative expectations”.
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The Georgian financial system remains resilient against potential shocks, announced the Financial Stability Committee of the National Bank of Georgia at today’s meeting.
Official international reserves of the National Bank of Georgia increased by $167 million in December 2019, show data from the National Bank of Georgia.
The National Bank of Georgia has sold $40 mln today amid the depreciation of the Georgian lari, announces the National Bank of Georgia. As of today, 1 USD costs 3.1568 GEL, while 1 EUR costs 3.4109 GEL.