27.May .2022 17:30

Lari Edged Lower

Lari Edged Lower
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As a result of May 27 trading, the Georgian national currency Lari (GEL) edged lower against the US dollar (USD). The change in the exchange rate against the dollar was 0.59 tetri, as a result of which the official value of the dollar became 2.8657 GEL.

According to the National Bank of Georgia (NBG), the national currency drop by 2.01 tetri against the euro (EUR), as a result of which the official value of one euro became 3.0689 GEL.

The 3.83-tetri depreciation is against the British pound sterling (GBP), the price of which has become 3.6108 GEL.

Exchange rate appreciated 0.07 tetri against Turkish lira (TRY), as a result the price for 1 lira became 17.48 tetri.

The rates obtained as a result of today's trading will take effect from tomorrow, May 28.

Prior to today's trading results, Georgian lari has been significantly appreciating vs a basket of major currencies. An exchange rate of GEL vs USD even managed to return to the level of pre-pandemic. On this background on May 24, 2022, the National Bank of Georgia intervened and bought USD 10 000 000 during its Foreign Exchange Auction. The average weighted bid rate was 2.8689.