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2 years ago
Georgia c.bank sells $20 mln at currency auction to support lari
January 26, 2016 / 12:43 PM / 2 years ago

Georgia c.bank sells $20 mln at currency auction to support lari

TBILISI, Jan 26 (Reuters) - Georgia's central bank said it had sold $20 million at a foreign-currency auction on Tuesday as part of efforts to support the country's weakening lari currency.

It was the bank's third intervention on the currency market this year. It sold $40 million at two previous foreign-currency auctions this year to support the lari.

The bank sold about $300 million last year to support the national currency.

Georgia's foreign-exchange reserves fell to $2.5 billion as of Dec. 31 from $2.7 billion at the beginning of 2015. (Reporting by Margarita Antidze; Editing by Alexander Winning)

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