The National Bank of Georgia Sells 40 Million USD at Auction

The National Bank of Georgia sold $40 million at auction to tackle the depreciation of Georgia’s national currency amid the global economic distress.

“On March 25, the National Bank of Georgia sold 40,000.000 USD. The currency exchange rate became 3.4563,” the NBG announced after the transaction.

The NBG has carried out two monetary interventions, in total amounting to $60 million.

By B.Alexishvili

 

25 March 2020 17:32