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Banking

Koba Gvenetadze: GEL Excessively Strengthened in Spring

GEL/USD rate is the main topics an interview, publication \”Rezonansi\” has spoken with obama of National Bank of Georgia.?

President of NBG considered three priorities of your Regulatory in the extensive interview –? tight communication while using the media, decrease in dollarization and protection of consumer rights. ?Gvenetadze declares, the key condition in Georgian finance …

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Banking

National Bank Statistics Proves Downfall in Prices

Imported inflation in June declined by 5% in comparison to May 2016 because of contraction in fuel prices, the monthly report by the National Bank of Georgia (NBG) reads.

It should be noted that, due to exchange rate devaluation, prices of family equipment or other imported goods extremely increased within the last few year. At the …

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Banking

National Bank Cheapens Loans: Stable Foreign exchange Rate and Low Inflation Rate will Stimulate Economic Growth

The monetary policy committee of your National Bank of Georgia (NBG) has gotten a choice on decreasing the refinancing rate by 25 base indicate 6.5%.? This decision will be based upon macroeconomic forecasts this agreement the tightened monetary policy should really be gradually alleviated to safely move better the mark inflation indicator.

\”According into the forecasts, …

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Banking

Current Tendencies Of Bank Deposits

The total level of non-bank deposits inside the country’s banking sector increased by 3.1 percent (exchange rate effect excluded volume of deposits increased by 3.0 percent), or by 448.9 million GEL, when compared to July 1, 2016 and constituted 14.8 billion GEL by August 1, 2016.

In July, the level of term deposits increased by 272.9 …

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Economy

Georgian Foreign Reserves Take any presctiption maximum of 3.5-year

The amount of Georgian foreign assets is increased as many as 2.956 billion USD, it will be the highest rate after November, 2013.

Reserve assets increased by 13 million USD through A month, whilst the increase is Tens of millions of y-o-y.

Major shares of reserves C 2.753 billion USD take into account foreign currency reserves. However, …

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Banking

National Bank of Georgia Appoints Temporary Administration to Azerbaijani Bank

The National Bank of Georgia (NBG) is appointing a short-term administration at Caucasus Development Bank C Georgia.

It followed the bankruptcy of that headquarters in Azerbaijan, agenda.ge reported.?NBG explained the obvious way to ease problems currently facing the Azerbaijani bank ended up being send a banking expert from Georgia to oversee operations in Azerbaijan.

Despite the Azerbaijani …

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Banking

Georgia's c.bank Buys $20 mln at Currency Auction

Aug 23 Georgia’s central bank has bought $20 million for a currency auction on Tuesday, when the country’s lari currency has strengthened, Reuters reports.

The central bank has bought $258.35 million for the fx market since March until today after selling $60 million in January.

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Banking

National Bank Gave 8.5 mln GEL to the Market

The National Bank of Georgia (NBG) supplied much more than 8.5 million GEL to your market.

At the currency auction, the NBG purchased 8.5 million GEL towards market. The averaged weighed exchange rate made 2.2802.

Investment bankers tend not to expect this intervention to provoke strengthening the GEL exchange rate. Getting foreign currency means a source of …

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Banking

Precisely what is Currency Intervention Volume and Why NBG Doubles it?

The National Bank of Georgia (NBG) has doubled currency intervention volume and sold 40 million USD at currency auctions. The averaged weighed exchange rate constructed 2.3264 GEL against USD.

Having sold 20 million USD and extracted 46 million GEL through the market (20×2.3177), the NBG has provoked the GEL mass cut in turnover by 93 million …

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