Lari exchange rate continues to fall amid adoption of foreign agents bill

The National Bank of Georgia conducted a foreign exchange intervention today, selling about $60 million at auction. Despite this, the lari/dollar exchange rate continues to fall.

Now the cost of one dollar is 2.7596 lari. On May 17, the exchange rate against the euro will be 3.0002 lari.

Earlier, the National Bank of Georgia stated that the drop in the value of the lari was short-term and was not a sign of global financial changes. At the same time, its reserves are at a record high.

The fall of the national currency of the republic occurred against the backdrop of the adoption of the law on foreign agents and statements by the USA and the EU about a possible change in policy towards Georgia if the document comes into force.