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Tag Archives: USD

How Much USD do Commercial Banks Buy and Sell?

National Bank of Georgia (NBG) published indicators about the volume of USD Georgia-based commercial banks buy and sell in Georgia. In 2013-2016 commercial banks used to buy 13.5bln USD and sold 14bln USD a year on average. This signifies commercial banks used to supply more USD to the currency market. …

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GEL/USD Turnover Shrinks on Currency Market

GEL/USD Turnover Shrinks on Currency Market

GEL/USD turnover has shrunk on currency market. Without NBG interventions (70 million USD), in June the contraction constituted 29% month on month (-33 million USD).  According to Monthly Review of NBG, number of deals between market players has decreased (-32% month on month; -19% year on year). Currency market concentration …

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Georgian Foreign Reserves Are on the Maximum of 3.5-year

Georgian Foreign Reserves Are on the Maximum of 3.5-year

The volume of Georgian foreign assets is increased up to 2.956 billion USD, it is the highest rate after November, 2013. Reserve assets increased by 13 million USD through 1 month, while the increase is 10 million y-o-y. Major shares of reserves – 2.753 billion USD account for foreign exchange …

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GEL Returned to the Strengthening Trend

GEL Returned to the Strengthening Trend

GEL has returned to the strengthening trend after the resume of foreign exchange trade. GEL started devaluation unexpectedly on March 2 and cost of 1 USD grew up to 2.54 GEL, despite the fact that strengthening trend had been fixed through day. To note, trade stated at $1/2.4925 point at …

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GEL Devaluated by 14.8% Against USD from Early this Year

GEL Devaluated by 14.8% Against USD from Early this Year

National Bank of Georgia (NBG) purchased the same amount of USD, as it had sold. According to Galt & Taggart, NBG made foreign exchange intervention 24 times. The central bank purchased over 278 million USD and sold 280 million, at that 40 million – in the previous week. It should …

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National Bank of Georgia sold $40 million

National Bank of Georgia sold $40 million

National Bank of Georgia made the first foreign exchange intervention after October 12. NBG sold USD 40 000 000 during its Foreign Exchange Auction. The average weighted bid rate was 2.7823. NBG sold 180 million USD from August. The central bank of the country regards, that the rate of national …

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Frequently Asked Questions Regarding The Program On Larization Of Loans

Frequently Asked Questions Regarding The Program On Larization Of Loans

Q&A for the program of conversion of loans to individuals in US dollar under real estate collateral before January 1, 2015 into lari loans. What does the program of FX bank loan conversion to lari mean?  The program includes a voluntary conversion of US dollar-denominated bank loans of individuals colalteralized …

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What is the Situation on the Currency Market?

What is the Situation on the Currency Market?

GEL exchange rate keeps falling trend against USD on the currency market. Morning trade started at $1 / 2.4962 GEL index in the Bloomberg- trading system, Georgian national currency has been devaluated soon and the offer fell down at $1/2.5165 by12:20 p.m. (Tbilisi time). GEL exchange rate has been decreased …

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Georgia Borrowed More by $484 mln in 6 Months than Paid

Dollars

Georgia paid 702 mln USD for debt pay/ service in the H1 of the year, but borrowed more by 484, 3 mln. As of the statistics published on the web-page of NBG, the payments of 6 months, 2016 are as follows: Governmental sector paid 117, 4 million USD and borrowed …

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National Bank of Georgia has Set a New Exchange Rate

National Bank of Georgia has Set a New Exchange Rate

GEL has dropped against USD, while strengthened against EUR. National Bank of Georgia has set a new exchange rate by September 20, according to which price of 1 USD will become 2,3167  GEL, 1 EUR /2.5866 GEL. Starting with September 19, the GEL has devaluated by 0.0056  point  against USD, …

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Distribution Business Revises Prices by 20%

Distribution Business Revises Prices by 20%

GEL depreciation in relation to USD has especially affected the consumer market, because the distribution companies buy products from the suppliers in USD. Product prices have increased  in the distribution network too. After the GEL exchange rate started rising, products prices changed by about 10-20%. “GEL appreciation has already made …

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GEL Has Strengthened Against USD by 6 Tetri

GEL Has Strengthened Against USD by 6 Tetri

GEL has strengthened against USD and EUR on Tuesday The National Bank of Georgia has set a new exchange rate by March 16, according to which price of 1 USD will become 2,3575 GEL, 1 EUR /2.6126 GEL. Starting with March 15, the GEL has strengthened by 0.0600 point against the …

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