"The GEL exchange rate is one of the important factors in the formation of inflation. Fundamental and unobservable factors affect the exchange rate itself, that is, these are factors that cannot be accounted for. The current expectations towards the National Bank affected the rate, but we think that the fundamental factors are so strong, these negative sentiments, which affect the exchange rate of the lari, may turn out to be short-term. 
That is why it is possible to think that the creation of intervention strategy to extinguish these attitudes is valid. We also saw that NBG [National Bank of Georgia] conducted three auctions from September 20. During yesterday's intervention, we saw that there is a low utilization, that is, the GEL liquidity is already high. We can say that during the year the GEL will maintain its stability at the current level.
Reserves are also increased; we have a significant buffer so that using reserves to dampen short-term sentiment may be justified. However, if we see that this has been given a permanent nature and one day the GEL rate will strengthen and the next day it will depreciate, then it will be inappropriate to spend the reserves", Lasha Kavtaradze said.