As of April 24, Georgia’s national currency has depreciated against the Euro and the US dollar. With a new exchange rate of 1 US dollar is 2.41 GEL, which is more than 0.4 Tetri compared to previous indicator.
The cost of 1 Euro has also increased to 2.616 GEL, which is more than 4.4 Tetri compared to previous indicator.
During last two weeks time, National Bank of Georgia has implemented first currency interventions in 2017. National Bank of Georgia bought 19.7 million USD. National Bank of Georgia hasn’t commented yet on why it found necessary to implement interventions.
The National Bank of Georgia bought 278 million USD and bought 280 million USD during the stock currency auction in 2016.
The chart below shows the exchange rate for the GEL against the US Dollar and euro in 2016-2017: