11.Mar .2022 17:15

Georgian Lari Strengthens Against a Basket of major currencies

Georgian Lari Strengthens Against a Basket of major currencies
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As a result of March 11 trading, the Georgian national currency lari (GEL) strengthened against the US dollar. The change in the exchange rate against the dollar was 8.8 tetri, as a result of which the official value of the dollar became 3.2308 GEL.

According to the NBG, the national currency strengthened by 11.2 tetri against the euro, as a result of which the official value of one euro became 3.5487 GEL.

The 13.66-tetri strengthening is against the British pound sterling (GBP), the price of which has become 4.2278 GEL.

GEL has appreciated by 0.88 tetri against Turkish lira (TRY) and closed at 21.58 tetri.

On Wednesday, the National Bank of Georgia held 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.