Another intervention from the National Bank of Georgia: $ 30 million sold
In order to stabilize the foreign exchange market, the National Bank has already held 26 auctions in eight months, at which it sold $ 873.2 million.
The National Bank of Georgia held a regular currency auction, where the weighted average exchange rate of the lari to the dollar was 3.2752 GEL/$1.
The regulator put $ 30 million up for auction.
In order to stabilize the foreign exchange market, the National Bank has already held 26 auctions in eight months, at which it sold $ 873.2 million. The anti-record of the lari was recorded on March 27, 2020, when the national currency fell to the level of 3.4842 GEL/$1.
On Thursday, December 31, the National Bank of Georgia set the official exchange rate of the lari against the US dollar at 3.2766 GEL/$1.
The official exchange rate of the lari against the dollar has been established since May 2009 by aggregating transactions on the interbank market of the Bloomberg trading system. On October 1, 2020, the Georgian foreign exchange market switched to trading in the Bmatch Bloomberg system.
Earlier, the National Bank said that it will use all the tools at its disposal to ensure price stability, including currency interventions and interest rates.
In addition to the currency auctions of the national Bank to reduce excessive fluctuations in the daily uses of the intervention. When the exchange rate fluctuations during the day exceed a pre-set mark, the National Bank will participate in foreign exchange trading for a certain amount.
In addition, this year the National Bank uses for interventions the currency received by the country from international financial institutions in the form of loans or grants allocated to Georgia to overcome the consequences of the coronavirus pandemic.
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Another intervention from the National Bank of Georgia: $ 30 million sold
In order to stabilize the foreign exchange market, the National Bank has already held 26 auctions in eight months, at which it sold $ 873.2 million.
The National Bank of Georgia held a regular currency auction, where the weighted average exchange rate of the lari to the dollar was 3.2752 GEL/$1.
The regulator put $ 30 million up for auction.
In order to stabilize the foreign exchange market, the National Bank has already held 26 auctions in eight months, at which it sold $ 873.2 million. The anti-record of the lari was recorded on March 27, 2020, when the national currency fell to the level of 3.4842 GEL/$1.
On Thursday, December 31, the National Bank of Georgia set the official exchange rate of the lari against the US dollar at 3.2766 GEL/$1.
The official exchange rate of the lari against the dollar has been established since May 2009 by aggregating transactions on the interbank market of the Bloomberg trading system. On October 1, 2020, the Georgian foreign exchange market switched to trading in the Bmatch Bloomberg system.
Earlier, the National Bank said that it will use all the tools at its disposal to ensure price stability, including currency interventions and interest rates.
In addition to the currency auctions of the national Bank to reduce excessive fluctuations in the daily uses of the intervention. When the exchange rate fluctuations during the day exceed a pre-set mark, the National Bank will participate in foreign exchange trading for a certain amount.
In addition, this year the National Bank uses for interventions the currency received by the country from international financial institutions in the form of loans or grants allocated to Georgia to overcome the consequences of the coronavirus pandemic.
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