Papuna Lezhava, Vice President of the National Bank of Georgia declares, that it is not excluded GEL fluctuations might continue in the future, but the NBG has adequate foreign exchange reserves to ensure the efficient functioning of the market. Lezhava told that TV-Program Business Morning, while evaluating fluctuations of GEL exchange rate in the background of the Russia-Ukraine war.
"Some fluctuations are already observed in the case of our national currency. It is not excluded that these fluctuations will continue. All information is sensitive, but the important thing is that the National Bank has sufficient, adequate reserves to ensure the efficient functioning of the foreign exchange market.
Today, our reserves are at an adequate level, which is due to the fact that after the pandemic we received a fairly large amount of financial assistance from our partner financial institutions, and on the other hand, the foreign exchange reserves have been accumulated before the pandemic.
Consequently, despite that reserves of up to $ 1 billion have been used amid the pandemic, today the National Bank still has adequate reserves," Papuna Lezhava said.
