Georgia's commercial banks buy securities worth 40M lari
Baku, Azerbaijan, August 7
By Tamilla Mammadova – Trend:
The securities in the amount of 40 million lari with a maturity of 364 days were sold at the Ministry of Finance Treasury Bill Auction on August 6, 2019, Trend reports via the National Bank of Georgia.
Five commercial banks participated in the auction.
The total demand amounted to 113 million lari. Minimum yield was 6.500 percent, maximum yield was 6.590 percent and the weighted average yield was 6.558 percent.
National Bank of Georgia is the central bank of Georgia. Its status is defined by the Constitution of Georgia.
Georgia's first central bank was established in 1919. In its current form the bank has existed since 1991. According to the Constitution of Georgia, it is independent of state control, and is tasked with ensuring price stability.
(1 USD = 2.93 GEL on August 7)