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Tuesday, October 15, 2019

Central Bank of Georgia sells securities with two-year maturity

The Central Bank of Georgia with the Ministry of Finance Treasury recently announced that it has sold 20 million securities with a two-year maturity.

The auction involved commercial banks, with the total demand reaching to 31,600,000. The interest rate was at a minimum of 5.4 percent and maximum of 5.64 percent. The average interest rate was defined as 5.528 percent with a coupon rate of 5.8 percent. Coupon payments are to be made twice a year.

The National Bank is the central bank of Georgia. Its status is defined under the constitution. The bank was established in 1919.

The National Bank of Georgia, the constitution and its activity is independent of the executive and legislative branches of government, which have no right to interfere in its activity. The bank implements monetary policy and owns, manages and disposes of the country's official international reserves.