NBG says it will use all the available resources for GEL’s long-term stability
NBG says it will use all the available resources for GEL’s long-term stability

The National Bank, when fulfilling its functions, is independent of political or any other influence and acts within the framework of the mandate as defined by Constitution – reads the statement of National Bank of Georgia (NBG).

According to NBG, under conditions of inflation targetting, central banks aim at the long-term stability of the national currency that also serves as a precondition of stability of prices and financial system.

“Many factors influence the short-term dynamics of the exchange rate of GEL. We will act with purpose of GEL’s long-term stability and will use all the available tools and resources including monetary interventions not to admit high inflation,” reads the statement.

 

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