Georgian central bank sells $30 mln at foreign exchange auction, lari gains slightly against US dollar
The official exchange rate shows that as of today 1 USD costs 3.4462 GEL (strengthened by 0.59 tetri) and 1 EUR costs 4,153 GEL (depreciated by 0.88 tetri). Photo: Nino Alavidze/Agenda.ge.
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The National Bank of Georgia (NBG) has sold $30 million at foreign exchange auction today as a result of which the national currency, the lari, has strengthened slightly against the US dollar and depreciated against the euro.
The average weighted bid rate was 3.4447.
The official exchange rate shows that as of today 1 USD costs 3.4462 GEL (strengthened by 0.59 tetri) and 1 EUR costs 4,153 GEL (depreciated by 0.88 tetri).
This year the lari has depreciated by 17 tetri against the US dollar and by 13 tetri against the euro.
In order to stabilise the lari exchange rate the NBG has already made seven interventions this year and sold $242.9 million in total.
The executive board of the International Monetary Fund (IMF) has just completed the eighth review of Georgia’s economic reform programme supported by a four-year extended arrangement under the Extended Fund Facility (EFF ).
The National Bank of Georgia (NBG) offered $40 million at the foreign exchange auction today of which $27.5 million was sold, announces the NBG. The average weighted rate was 3.4401.
The Georgian national currency, the lari, has depreciated in value by 2.6% against the US dollar in the last month. The official exchange rate shows that as of today 1 USD costs 3.4464 GEL (previous rate was 3.4118 GEL) and 1 EUR costs 4.0426 GEL (previous rate was 4.0044 GEL).
The National Bank of Georgia (NBG) offered $40 million at the foreign exchange auction today of which $25.4 million was bought, announces the NBG. The official exchange rate shows that as of today 1 USD costs 3.4363 GEL and 1 EUR costs 4.1115 GEL.
The government of Georgia has taken on internal debt of 35 million GEL as a result of the sale of 5-year securities, announces the National Bank of Georgia.
The National Bank of Georgia (NBG) has increased the refinancing rate by one percentage point to 9.50% as a result of which loans for about 125,000 borrowers will increase by one per cent, says the non-government organisation Society and Banks.
The Georgian lari has strengthened against the US dollar today to 3.0375 GEL / $1 USD as of 11 a.m. today. June 4 trading opened the day with the GEL/USD rate at 3.10, which further fell by almost 7.25 tetri and currently stands at 3.0375 GEL.