Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  PALESTINE SECURITIES EXCHANGE  >  The National Bank    TNB   PS1006112053

THE NATIONAL BANK

(TNB)
SummaryNewsCompany 
News SummaryMost relevantAll newsOfficial PublicationsSector news

National Bank : sells $32.8M amid Georgian lari devaluation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/15/2019 | 12:17am EDT

The National Bank of Georgia (NBG) sold $32.8 million on exchange auction (for 2.9283 lari per USD) as the Georgian lari continued to drop, Trend reports via the National Bank of Georgia.

After the auction, the official exchange rate of the Georgian lari strengthened by 1.4 percent: the National Bank set it on August 2 at the level of 2.9296 lari / $1 against the next historical minimum of 2.9718 lari / $1 on August 1.

The NBG announced that it would sell $40 million on exchange auction, as the exchange rate had reached a level "that might pose a risk to price stability" amid "the tourism-related shocks and negative expectations".

It also underscored that if the exchange rate would still affect inflation, the NBG would "tighten monetary policy" as well.

NBG has implemented foreign exchange intervention for the first time since December 2016. In 2017-2019, foreign exchange reserves were filled up by $492 million.

© 2019 Trend News Agency ALL RIGHTS RESERVED, source News Service

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on THE NATIONAL BANK
08/15NATIONAL BANK : of Georgia and EU to implement new project
AQ
08/15NATIONAL BANK : Georgia has no need to up fuel prices
AQ
08/15NATIONAL BANK : sells $32.8M amid Georgian lari devaluation
AQ
08/09NATIONAL BANK : Official lari exchange rates on August 9
AQ
08/07NATIONAL BANK : International reserves of Georgia's National Bank down
AQ
08/05NATIONAL BANK : Georgia has no need to up fuel prices
AQ
08/02NATIONAL BANK : of Georgia and EU to implement new project
AQ
08/02NATIONAL BANK : sells $32.8M amid Georgian lari devaluation
AQ
07/19NATIONAL BANK : Georgia not to soften regulations on consumer loans
AQ
07/17NATIONAL BANK : Hungarian investors redeem savings from investment funds to buy ..
AQ
More news
Chart THE NATIONAL BANK
Duration : Period :
The National Bank Technical Analysis Chart | MarketScreener
Full-screen chart
Managers
NameTitle
Ahmad Ragheb Nader Haj Hasan General Manager
Talal Kazem Abdullah Nasereddin Chairman
Ghassan Jayyousi General Manager-Operations
Aziz Mahmoud Mustafa Abdul-Jawad Independent Director
Kamal Ismail Abu Khadeeja Director
Sector and Competitors