The national currency has devaluated further today in the Bloomberg trading system. Trade was opened at the rate of 3.39 GEL and currently, 1 USD costs 3.4161 GEL.
This is not an official exchange rate yet; it will be announced by the National Bank of Georgia at 17:00. Yesterday, the official GEL exchange rate against the USD depreciated by 1.28 tetri and reached a maximum of 3.3846 GEL in 2021.
Earlier last week, the NBG sold 40 million USD to mitigate the rising volatility of GEL exchange rate.
The National Bank sold foreign exchange reserves of $ 160 million through interventions in 2021.
