Foreign Currency

Acting Governor of Georgian Central Bank says national currency showing “historic” strengthening


Natia Turnava, the Acting Governor of the National Bank of
Georgia, on Monday said the exchange rate of the national currency
was showing a “historic” level of strengthening, adding the dynamic
was “greatly contributing” to reduction of domestic inflation,
Azernews reports, citing Agenda.

Speaking at the conference Global Economic Trends and Their
Impact on the Region, organised by the NBG, Turnava cited the
International Monetary Fund as highlighting the same
development.

Lari remains strong, and we should not pay too much attention to
short-term fluctuations in our market, because it can always happen
– our foreign exchange market is small and one-time large
transactions can cause this fluctuation”, she said.

Turnava said the market was “maintaining stability” while
foreign currency inflows were “strong” via tourism income, service
export and shipments, adding “destabilisation” was not
expected.

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