05.Aug .2022 17:30

Lari Grows against Greenback, Slides vs EUR

Lari Grows against Greenback, Slides vs EUR
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As a result of August 5 trading, the Georgian national currency Lari (GEL) appreciated against the US dollar (USD). The change in the exchange rate against the dollar was 0.66 tetri, as a result of which the official value of the dollar became 2.7178 GEL.

According to the National Bank of Georgia (NBG), the national currency depreciated 0.31 tetri against the euro (EUR), as a result of which the official value of one euro became 2.7806 GEL.

The 2.57-tetri appreciation is against the British pound sterling (GBP), the price of which has become 3.2959 GEL.

Georgia's national currency increased by 0.03 tetri vs Turkish lira (TRY) and rate became 15.13 tetri.

The rates obtained as a result of today's trading will take effect from tomorrow, August 6.

In the midst of ongoing appreciation of Georgian lari against USD which has not been this cheap since May 2019, the Central Bank started intervering. Today, the Bank bought USD 20 000 000 during its Foreign Exchange Auction. The average weighted bid rate was 2.7186. It was the regulator's second purchase this month and the third one in 2022, the sum totalled US$ 40 million.

Together with FX auctions, NBG has been purchasing foreign currency through Bloomberg BMatch Platform. According to the statistics of the National Bank, the volume of these transactions in July reached US$110 million.