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Tag Archives: National Bank of Georgia

National Bank of Georgia sold $40 million

National Bank of Georgia sold $40 million

National Bank of Georgia made the first foreign exchange intervention after October 12. NBG sold USD 40 000 000 during its Foreign Exchange Auction. The average weighted bid rate was 2.7823. NBG sold 180 million USD from August. The central bank of the country regards, that the rate of national …

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President of NBG Responds to the Critics of Larization

President of NBG Responds to the Critics of Larization

The act is an insurance mean from foreign exchange risks and onetime event, which has been used in other countries and Georgia is not unique in this term, – Koba Gveneteadze, president of National Bank of Georgia has noted to the Public Broadcaster and responded the critics as well. Koba …

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Koba Gvenetdze Makes a Comment on Sharp Devaluation of GEL

Koba Gvenetdze Makes a Comment on Sharp Devaluation of GEL

President of National Bank of Georgia links GEL devaluation to the agotage created by the expectations on the market. Koba Gvenetadze does not name concrete factors, what provoked the negative expectations. He declares that many factors are component of expectations and their separation is hard. “USD rate has been increased …

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Frequently Asked Questions Regarding The Program On Larization Of Loans

Frequently Asked Questions Regarding The Program On Larization Of Loans

Q&A for the program of conversion of loans to individuals in US dollar under real estate collateral before January 1, 2015 into lari loans. What does the program of FX bank loan conversion to lari mean?  The program includes a voluntary conversion of US dollar-denominated bank loans of individuals colalteralized …

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Russia’s Alfa Bank Enters Georgia

Russia’s Alfa Bank Enters Georgia

Commersant has learnt that the Russian banking giant Alfa Bank enters Georgia. According to the source, Alfa Bank  buys the assets of the Caucasus Development Bank-Georgia and  the audit service has entered into the bank. The National Bank of Georgia (NBG) has revoked thebank’s license  in September this year, as a …

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Georgia Borrowed More by $484 mln in 6 Months than Paid

Dollars

Georgia paid 702 mln USD for debt pay/ service in the H1 of the year, but borrowed more by 484, 3 mln. As of the statistics published on the web-page of NBG, the payments of 6 months, 2016 are as follows: Governmental sector paid 117, 4 million USD and borrowed …

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The MP Announces Regulations for Strengthening GEL

The MP Announces Regulations for Strengthening GEL

The Prime Minister announces regulations for strengthening and stabilization of GEL. The MP did not specify what measures should be taken by the new government jointly with the National Bank of Georgia. He linked another drop of GEL with the huge volume of negative trade balance. “Current changes are conditioned …

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President of NBG Made a Comment on GEL Devaluation

President of NBG Made a Comment on GEL Devaluation

President of National Bank of Georgia made a comment on sharp drop of GEL with media on Thursday. Koba Gvenetadze declares that it is difficult to make a comment on short-term fluctuations during the floating exchange rate. It should be noted, that various deals and expectations have impact on currency …

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