The currency market sensation has settled and the National Bank of Georgia (NBG) has decided to start purchasing USD. On June 24 NBG purchased 10 million USD and the average weighed exchange rate made up 1.8510 against USD.
In June NBG sold considerable reserves of USD to regulate the currency market. Thus, if there is excess amount of foreign currency on the market, NBG will carry on purchasing USD.
In June NBG sold 47 million USD at four currency auctions. As soon as the GEL exchange rate against USD reached 1.90 point, NBG sold 15 million USD. In May NBG sold 85 million USD.
On June 25 the GEL exchange rate against USD stands at 1.8402.