The National Bank of Georgia sold dollars for the third time in a month to maintain the lari exchange rate
Kyiv • UNN
The National Bank of Georgia conducted its third foreign exchange intervention in October, selling $60 million. This is the sixth intervention since the beginning of the year, aimed at restraining the lari before the elections.
Today, the National Bank of Georgia sold another $60 million to keep the lari exchange rate stable. This is the third foreign exchange intervention in October and the sixth since the beginning of the year, UNN reports with reference to Novosti Georgia.
The decision to hold a foreign exchange auction was made by the NBU to prevent excessive influence of non-fundamental factors and the FX market excitement traditionally characteristic of the pre-election period
At the same time, it is argued that Georgia's macroeconomic performance is excellent, inflation is below the target and there is no reason for a serious fall in the coffers.
