Georgian Lari Strengthens Against a Basket of major currencies

20:46 Thu, 30 March

GEO

USD

$ 2.5604

EUR

€ 2.7862

GBP

£ 3.1624

RUB

₽ 0.0331

TRY

₺ 0.0013

AZN

₼ 0.0151

XRP

0.5330

11.Mar .2022 17:15

Georgian Lari Strengthens Against a Basket of major currencies

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Author:BMG Staff

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.