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Kumsishvili: We Do Not Manipulate with Expectations of Currency

Kumsishvili: We Do Not Manipulate with Expectations of Currency

GEL rate remains a hot topic.

Minister of Economy has recalled sharp devaluation of national currency (11%) through the last two weeks afresh and noted, that to make a comment on the daily change of the rate is incorrect. He called for private individuals and legal entities to conduct the procedures wisely.

“We have free and open market, respectively there is demand and supply at the market. External as well as internal factors have an impact at the market. I want to call for the population, companies not to manipulate with expectations of currency. We should exchange the currency when we need it”, – Kumsishvili has responded to the reporters.

Vice-President of NBG made the same statement early this week.

“Population and business should buy foreign currency, when they have the need. To set the forecast and take decision on that base, they must avoid “, – Archil Mestvirishvili has declared.

The central bank notes, that GEL rate will have a strengthening trend in long-term dynamics. It should be noted, that GEL has dropped against the USD by 24 tetri and constituted to 2,37 GEL in the period of June 17-29. However, rate of GEL/USD changes in the range of 2.3250 – 2,3600 at Bloomberg trade system from early Wednesday.