05.Nov .2020 17:45

Archil Gachechiladze: It Is Desirable to Make More Explanations About the Existing Policy Regarding the GEL

Archil Gachechiladze: It Is Desirable to Make More Explanations About the Existing Policy Regarding the GEL
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"I think it is necessary to have a clear and transparent policy on GEL," said Archil Gachechiladze, CEO of Bank of Georgia, in an interview with The CheckPoints. 
 
"The weakness of the GEL exchange rate creates much uncertainty. It especially affects those whose business operates in GEL or who earns income in the national currency. Therefore, I think it is necessary to have an understandable and transparent policy towards the GEL. "I think the policy exists, but in my opinion, it is desirable to make more explanations about it," said Archil Gachechiladze.
 
In total, the official value of the dollar increased by 15.6 tetri during the last 4 working days. On Monday, the NBG intervened with $ 60 million to mitigate the volatility of the GEL exchange rate. In total, by 2020, the National Bank sold 710 million dollars through currency auctions.