National Bank of Georgia increases interest rate

Baku. 13 December. REPORT.AZ/ National Bank of Georgia at today’s meeting increased the interest rate by 0.25 basis points to 7.25%.

Report informs referring to the Reuters, the move taken due to rapid increase of inflation in the country.

In Georgia the monthly inflation rate in November was 1.1%, while in October it was 0.8%. In annual comparison in November inflation reached 6.9%. In October this figure was 6.4%, last November it equaled to 0.2%. After the decision, the dollar exchange rate in Georgia decreased by 1.6% to 2.62 GEL. Last week dollar exchange rate was 2.71 GEL. 

The next meeting of National Bank of Georgia will convene on January 31, 2018.