Banking

Posted: 4 years ago

National Bank Sells 20 million USD at Currency Auction

On November 26, the National Bank of Georgia (NBG) sold 20 million USD at currency auction and the average weighed exchange rate made up 2.9699 GEL for 1 USD.

The NBG published its official exchange rate at 17 o’clock. The currency intervention is expected to strengthen the GEL exchange rate.

We remind you that the Bloomberg system registered an extreme devaluation of GEL to 2.9890 point.

At this stage, in the Bloomberg system the GEL official exchange rate against USD makes up 2.9710.

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