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The Lari Achieves Relative Stability

Published: December 11, 2013 | 5:58 pm
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The National Bank has sold $40 million at the monetary auction today. According to a statement from the bank, the Lari’s weighted exchange rate now stands at 1.7123, which is 74 points above yesterday’s figure.
Yesterday, the Lari fell against the US Dollar by a record 134 points to the 1.7196 mark – its lowest value since March 2011.
It is notable that the National Bank has conducted active monetary interventions since November, when the considerable devaluation of the Lari began. Six monetary auctions have already been conducted during the month and a half since then. In total, the National Bank put $160 million up for sale.

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