The National Bank of Georgia (NBG) sold USD 27.5 million out of the offered USD 40 million at the foreign exchange auction on April 1.
The exchange rate for April 2 was determined at GEL 3.4410 per USD, a slight appreciation from yesterday’s 3.4464.
The Georgian central bank’s fifth intervention this year came as the national currency, Lari (GEL) continued to dip against the U.S. Dollar, closing in on its record low of 3.4842 reported March 27, 2020. The NBG already sold USD 160 million in its four previous auctions.
Also Read:
- GEL Depreciates Further Against USD
- Geostat: Georgia’s GDP Declined by 5.1% in February
- Georgian Central Bank Increases Key Rate to 8.5%
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