BAKU, Azerbaijan, Feb. 28
By Maryana Akhmedova – Trend:
Georgian lari exchange rate fluctuations have already been observed, and, more likely, will continue, Papuna Lezhava, the Vice President of the National Bank of Georgia (NBG), said, Trend reports via Georgian media.
According to Lezhava, the NBG has sufficient, adequate reserves to ensure the efficient functioning of the foreign exchange market.
“Despite the use of up to $1 billion in reserves during the COVID-19 pandemic, today, the NBG’s reserves are at an adequate level due to a large amount of financial assistance from partner institutions received after the COVID-19 pandemic,” the vice president said.
The NBG maintains its reserves also due to foreign exchange reserves accumulated before the pandemic, Lezhava added.
Meanwhile, the NBG set the exchange rate of Georgian lari against the US dollar at 3,154/$1 on February 28, 2022.
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