24.Mar .2022 17:45

Georgian Lari Appreciates against a basket of major currencies

Georgian Lari Appreciates against a basket of major currencies
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As a result of March 24 trading, the Georgian national currency lari (GEL) appreciated against the US dollar. The change in the exchange rate was by 0.13 tetri, as a result of which the official value of the dollar became 3.2372 GEL.

According to the National Bank of Georgia (NBG), the national currency strengthened by 0.69 tetri against the euro (EUR), as a result of which the official value of one euro became 3.5561 GEL.

The 1.14-tetri appreciation is against the British pound sterling (GBP), the price of which has become 4.2705 GEL.

GEL has appreciated by 0.05 tetri against Turkish lira (TRY) and closed at 21.79 tetri.

On March 9, the National Bank of Georgia hold a foreign exchange auction to support the lari exchange rate and ensure liquidity in the foreign exchange market and sold US$39.6 million. US$50 million was put up for auction.

This was NBG’s first foreign exchange intervention during 2022.

The rates obtained as a result of today's trading will take effect from tomorrow, March 25.