Georgian Central Bank Sells USD 25.4 Mln

The National Bank of Georgia sold USD 25.4 million of the offered amount of USD 40 million at the foreign exchange auction on April 15.

According to the central bank, the weighted average rate at the auction was 3.4353. Meanwhile, the exchange rate for April 16 was determined at GEL 3.4363 per USD, appreciated from the previous rate of 3.4432.

The central bank’s intervention came amid the recent depreciation of the Georgian currency against the U.S. Dollar. Today’s auction was the sixth this year, with USD 187.5 million already sold in the previous five.

Also Read:

• Georgian Central Bank Sells USD 27.5 Mln
• Geostat: Georgia’s GDP Declined by 5.1% in February
• Georgian Central Bank Increases Key Rate to 8.5%

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