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GEL Strengthened Against USD and Depreciated Against EUR

07.10.21 19:00

As a result of October 7 trading, the Georgian national currency strengthened against the US dollar. The change in the exchange rate against the dollar was 0.35 tetri, as a result of which the official value of the dollar became 3.1449 GEL.

According to the NBG, the national currency depreciated by 0.23 tetri against the euro, as a result of which the official value of one euro became 3.6349 GEL. The 0.37-tetri exchange rate is against the British pound sterling, the price of which has become 4.2742 GEL.

The National Bank of Georgia held a foreign exchange auction on September 30 and sold $ 60 million - as a result of the auction, the lari strengthened against the dollar and the euro, but has been depreciating daily since then.

This was the ninth foreign exchange intervention of the National Bank in 2021, the last auction was held by the NBG on August 3, during which it sold $ 30 million. In total, by 2021, the National Bank had sold $ 332.9 million in interventions.

The rates obtained as a result of today's trading will take effect from tomorrow, October 8.
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