“With recent currency interventions, the National Bank responded to
expectations and showed it has reserves that can be used if necessary,” the NBG
Vice President Archil Mestvirishvili says.
“There were completely unreasonable expectations that the National Bank is interested in the lari’ collapse. To show everyone the groundlessness of such rumors, the National Bank decided to sell $ 30 million in the market, ” he notes.
At the same time, currency interventions cannot bring long-term positive results if the devaluation was caused by systemic, fundamental economic factors.
The vice president of the National Bank also touched on the impact of the national currency’s rate on business.
NBG Vice President also advises the citizens to take loans in national currency.