BAKU, Azerbaijan, Dec.30
By Tamilla Mammadova – Trend:
National Bank of Georgia (NBG) offered on $30 million on December 30, 2020 at a foreign exchange auction, Trend reports via the NBG.
The average weighted rate was 3.275.
This was the 26th intervention this year and as of now the bank has sold $886 million in total.
In January 2020, the cost of $1 was in the range of 2.86-2.89 lari in Georgia. However, with the outbreak of the coronavirus pandemic and the global oil crisis, lari hit a record low against USD and stood at 3.48 on March 27.
To stabilize the Georgian lari amid its depreciation, NBG sold $20 million at a foreign exchange auction on March 13, $40 million on March 19, and 40 million laris ($13.09 million) on March 25.
On April 27, the National Bank of Georgia sold another $20 million to stabilize the Georgian lari after further depreciation.
The National Bank of Georgia put up $40 million at a foreign exchange auction on June 10; however, only $29.65 million was sold.
On May 21, the bank sold $40 million to stabilize the Georgian lari, on June 18 - $20 million, on July 2- $20 million, on July 22 - $40 million, on August 13 - $20 million, on August 27 - $40 million, on September 16 - $40 million, on September 22 - $40 million, on October 2- $20 million, on October 9 - $30 million, on October 19 - $30 million, on October 22 - $40 million, on October 27 - $40 million, on October 29 - $40 million, on November 2 - $60 million, on November 11 - $37.2 million, on November 18 - $30 million, on November 25 - $46.55 million, on December 3 - $19.82 million.
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