22.Apr .2021 19:00

As a result of the $ 30-million intervention, GEL strengthened

As a result of the $ 30-million intervention, GEL strengthened
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The National Bank of Georgia held another currency auction today and sold $ 30 million. As a result, the lari strengthened by 0.59 tetri against the dollar, and the official value of one dollar became 3.4462 GEL. In relation to the euro, the lari depreciated by 0.88 tetri, as a result of which the value of one euro became 4.1530 GEL.
 
Yesterday, the official value of one dollar exceeded 3.45 GEL, which is a record of 2021 depreciation.
 
During 2021, the NBG conducted a total of 7 currency auctions and sold $ 242.9 million to reduce the GEL exchange rate volatility.

Papuna Lezhava, Vice President of the NBG, made a statement today regarding the depreciation of the GEL, saying that one of the leading factors in the current depreciation is the lost revenue from tourism. It is noteworthy that Russia will restrict flights in 2019, in addition to currency depreciation and instability in our neighboring and trading partner countries, all this affects the depreciation of the lari, "- said Lezhava.