Georgian Central Bank Sells USD 30 Mln

The National Bank of Georgia sold USD 30 mln in the foreign exchange auction on October 9.

According to the National Bank, the average weighted rate on October 9 amounted to 3.2168.

After depreciating for most of September, Georgia’s national currency began to strengthen on September 29. At that time the value of 1 USD stood at 3.3203 GEL. As of October 5, the value of 1 USD was 3.1975 GEL.

GEL began to depreciate again following October 5. As of today, the cost of 1 USD stands at 3.2233 GEL.

Georgia’s national currency is trading at GEL 3.2154 per USD on Bloomberg’s platform.

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This post is also available in: ქართული (Georgian) Русский (Russian)


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