Lari Depreciation

Georgian Lari Depreciates against USD and EUR

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Photo: Reuters

The Georgian Lari has depreciated against the USD by 1.25 tetri and by 2.23 Tetri against the EUR. With THE new exchange rate the price of one American dollar is 2.5876 GEL, whereas 1 Euro costs 3.0759 GEL.

The national currency has also depreciated against Turkish Lira and British pound.

It is noteworthy that the Lari had a strengthening tendency for the past two weeks.

On November 27, the Georgian Lari hit a record high exchange rate against Euro when it cost 3.24 GEL.

The chart below demonstrates the exchange rate of the Georgian Lari against the Euro and US Dollar throughout 2016-2017.

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