BAKU, Azerbaijan, March 20
By Tamilla Mammadova – Trend:
The National Bank of Georgia has sold $40 million amid the depreciation of the Georgian lari, Trend reports via the National Bank of Georgia.
As a result of these steps, lari appreciated against the US dollar by 2.36 tetri, while against the euro it appreciated by 8.88 tetri.
As of March 19, 1 USD was equal to 3.1568 lari, while 1 euro was exchanged for 3.4109 lari.
The National Bank of Georgia (NBG) sold $20 million at foreign exchange auction on March 13, 2020 to control the national currency’s changing value against the USD.
To decrease the pressure of the exchange rate on inflation, the National Bank of Georgia increased the refinancing rate by 0.5 percentage points to 7.5 percent on September 25, and again by one percentage point to 8.5 percent on October 23.
The National Bank of Georgia also increased the refinancing rate by 0.5 per cent to 9 percent on December 11, 2019.
---
Follow the author on twitter: @Mila61979356