In the first foreign exchange intervention this year, the NBG made the sale with an average weighted rate of 3.3947. 

The Georgian Finance Minister, Lasha Khutsishvili, stated that the process of stabilization of the exchange rate had begun.

“There is no basis for further depreciation of the exchange rate. In the long run it is will depend on the situation in the Black Sea region, referring to the military conflict in Ukraine which Russia began 15 days ago.

The current macroeconomic condition in the country has not deteriorated substantially, on the contrary, the growth rate remains in all directions; exports of locally produced goods amounted to 47.6% in January and money transfers totaled 168.8 million USD in January,” - Finance Minister said.