Georgia’s  central bank to   sell $ 40 million today

Georgia’s central bank to sell $ 40 million today

access_time2019-08-01 10:05:59

After several weeks of the lari’s collapse, the National Bank of Georgia (NBG) HAS  decided to carry out   currency interventions in the market.

According to the regulator, $ 40 million will be sold today.

 

“Despite the positive internal and external macroeconomic indicators, the lari exchange rate has reached a mark that creates a risk of price stability and inflation due to  external shocks associated caused by a reduction in  the number of tourists and negative expectations. For this reason,  the National Bank is set  to start using the tools it has in order to prevent the mentioned risks.



On August 1, the National Bank will sell $ 40 million at a foreign exchange auction.

 

If necessary, the National Bank is ready to use the intervention mechanism in the future. The regulator is also ready to tighten monetary policy if the national currency will continue to  affect  the inflation rate, ”the National Bank’s statement says.


თეგები:
commersant




Similar News

Georgia’s PM met President of Belarus

access_time 2019-08-23 15:30:12

Georgia’s unemployment rate dropped 0.7%

access_time 2019-08-21 13:05:09
up