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GEL Devaluated by 14.8% Against USD from Early this Year

GEL Devaluated by 14.8% Against USD from Early this Year

National Bank of Georgia (NBG) purchased the same amount of USD, as it had sold.

According to Galt & Taggart, NBG made foreign exchange intervention 24 times. The central bank purchased over 278 million USD and sold 280 million, at that 40 million – in the previous week.

It should be noted, that GEL has devaluated by 14.8% against USD from earthly this year. However, the historic minimum of GEL/USD exchange rate has been fixed on December 22 – 1/ 2.7846.