Georgian Central Bank Sells USD 40 Mln

The National Bank of Georgia (NBG) sold USD 40 million at the foreign exchange auction on October 29.

According to the NBG, the average bid rate amounted to 3.2234.

The central bank’s data shows that the exchange rate of GEL has remained relatively stable recently, within the range of 3.21-3.23 per USD.

This month the central bank sold in total USD 200 million, with today’s auction being the second intervention this week.

The exchange rate for October 30 was determined at GEL 3.2338 per USD.

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