National Bank of Georgia purchases $15 mln

 National Bank of Georgia purchases $15 mln

The National Bank of Georgia (NBG) has purchased $15 million at foreign exchange auction to control the national currency’s changing value against the dollar.

The weighted average exchange rate was 2.6497 GEL for every $1. Today $1 equaled 2.6487 GEL.

So far in 2019 the NBG has purchased $100 million at foreign exchange auction, while in 2018 the NBG purchased $197 million in total.

The NBG also released its ‘Monetary Policy Report, February 2019’.

Governor of the NBG Koba Gvenetadze said that in the recent period the NBG was maintaining a moderately tight monetary policy to neutralise the inflationary risks. Recently, the NBG decreased its refinancing rate by 25 basis points and now it stands at 6.75%, Agenda.ge reported.

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