Tbilisi (GBC) – The National Bank of Georgia issued another $30 million USD, USD 1 at GEL 2.6682
However, the market absorbed only USD 7.6 million and thus removed more than GEL 20 million from circulation.
In total, during the last 3 auctions, the NBG removed more than GEL 170 million from circulation. In the last trade, the exchange rate decreased to $1 - GEL2.6682.
At the end of last week, the central bank first sold 20 million for USD 1 at GEL 2.6841; At the next auction, the rate rose to 2.6884, and it sold for only USD 37.2 million from the USD 50 million bid.
In September, the mass of national currency in circulation increased and exceeded 5.7 billion GEL. The country's reserves decreased by USD 64.8 million through foreign exchange auctions