Lari Depreciation

Lari Has Depreciated by 8 Tetri against USD and 12 Tetri against EUR during past 1 week

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განახლებული 50 ლარიანი Photo: bloomberg.com

During the course of the last 7 days, Lari has depreciated by 8 tetri against the USD and by 12 tetri Against the euro.

The new exchange rate of 1 US dollar is 2.477 GEL, which is more than 3.3 Tetri compared to the previous indicator.

The cost of 1 Euro has also increased to 2.697 GEL, which is more than 3.8 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:

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