Lari Depreciation

GEL Depreciated Compared to Dollar and Euro on October 24

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Photo: ეროვნული ბანკი

Georgia’s national currency, the Georgian Lari (GEL), depreciated on October 24, 2017 compared to the US Dollar and the Euro.

At the new rate, one Euro reached 2.96 GEL. This is 0.1 GEL less than the maximum value of the Euro compared to the Lari, which was recorded on September 20, 2017.

The rate of the dollar to the GEL is 2.52, which is 0.3 GEL more than yesterday’s exchange rate indexes.

The Georgian Lari has been depreciating compared to the Euro since April 2017. With respect to the US Dollar, it maintained stability, fluctuating in the range of 2.38-2.41 GEL to 1 USD for approximately four months, however, depreciation trends have been noted recently.

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