23.Mar .2022 17:40

Georgian Lari Depreciates against USD and EUR

Georgian Lari Depreciates against USD and EUR
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As a result of March 23 trading, the Georgian national currency Lari (GEL) depreciated against the US dollar (USD). The change in the exchange rate against the dollar was 0.37 tetri, as a result of which the official value of the dollar became 3.2385 GEL.

According to the National Bank of Georgia (NBG), the national currency appreciated by 0.54 tetri against the euro (EUR), as a result of which the official value of one euro became 3.5630 GEL.

The 1.13-tetri depreciation is against the British pound sterling (GBP), the price of which has become 4.2819 GEL.

Exchange rate depreciated by 0.01 tetri against Turkish lira (TRY), as a result the price for 1 lira became 21.84 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 24.