National Bank of Georgia

Two bank robbers detained in Tbilisi

Georgia's Ministry of Internal Affairs has detained two individuals, both with previous crime records, for burglary, illegal purchase, possession and the use of firearms, illegal deprivation of liberty and attacking policemen during an …

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 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 …

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National Bank of Georgia explains why it purchased $10 mln

The National Bank of Georgia (NBG) announced several weeks ago that they had purchased $1 million on the Foreign Exchange Auction, noting that the weighted average exchange rate was 2.7220 per dollar. This was the ninth foreign currency …

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Georgia trying to contain banks

An unexpected ally of the government in this process was the main opponent of the current authorities, former President Mikhail Saakashvili

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 Bank of Georgia issues Tourist Card

The Bank of Georgia has issued a Tourist Card/a multi-purpose Visa card to provide comfort to tourists while travelling in Georgia. Tourists as well as Georgian citizens will be able to use the Tourist Card in public transport such as …

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Refinancing rate increased in Georgia

The National Bank of Georgia (NBG) has decided to increase its refinancing rate in response to expectations of increased inflation. The Monetary Policy Committee (MPC) of the bank increased the refinancing rate by 25 basis points to …

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Georgia raises key refinancing rate

The Monetary Policy Committee of the Georgian National Bank raised its key refinancing rate to 6.75% from 6.5% following a pick-up in inflation and said it might raise borrowing costs again in the first half of 2017.

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Georgia declares war against dollar

Georgia's government and the National Bank are planning steps to ease the pressure on the lari currency, including taking some of the burden off individuals repaying dollar mortgages and banning online credit services. Georgian …

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 Georgian government plans to stabilize lari

Georgia's Government said that it plans to take steps to stabilize the national currency. The Georgian Government  in corporation with the National Bank of Georgia (NBG) and the International Monetary Fund (IMF) will …

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 Georgia renews 100 lari banknotes

Modernised 100 GEL (Georgian Lari) banknotes will come into circulation around the countryfrom November 1, the National Bank of Georgia said. Extra high-tech security features were added to the new banknotes, making them better …

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Is Georgia's economy on the rise?

The National Bank of Georgia increased its forecast for GDP growth in the country in 2016 from 3% to 3.5%, the President of the National Bank, Koba Gvenetadze, said at today's briefing. "The difficulties in …

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Georgia refuses from dollars

The Georgian Prime Minister Giorgi Kvirikashvili believes that there is no alternative to dedollarization and strengthening confidence in the Georgian national currency in the long term. "We must take …

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Georgia's central bank delivers another 50bp rate cut

Georgia's central bank continued to ease monetary policy by cutting the key refinancing rate by 50 basis points (bp) to 7%, the National Bank of Georgia (NBG) said on June 15, IntelliNews reports. The regulator began …

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