The current foreign exchange rates show concerns about the Georgian lari depreciation are “groundless,” Georgian Finance Minister Lasha Khutsishvili has said.
Khutsishvili asserted all sources of currency inflow in the country, including export and tourism, were “functional” and “growing”.
“After an intervention, today’s official exchange rate has appreciated by around 8 tetri. The situation in foreign exchange markets is way more stable, and the appreciation tendency is maintained,” he noted.
Khutsishvili added the Georgian government did not expect a “sharp fluctuation” of currency rates in the near future.
The National Bank of Georgia (NBG) offered $50 million at the foreign exchange auction, of which $39.5 million was sold.
In the first foreign exchange intervention this year, the NBG made the sale with an average weighted rate of 3.3947. (Agenda/Business World Magazine)
