Lari continues to gain value
NBG purchases $5m at Foreign Exchange Auction
National Bank President said 5% growth can be achieved but there were risks as a result of the instability in Ukraine.
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Agenda.ge, 17 Mar 2016 - 20:55, Tbilisi,Georgia
The national currency of Georgia is steadily gaining value against the United States (US) dollar after it started falling dramatically 16 months ago.
Today the National Bank of Georgia (NBG) set a new exchange rate.
From tomorrow 1 USD will equal 2.3157 GEL, while the previous exchange rate was 2.3240 GEL.
Meanwhile the GEL has slightly depreciated against the Euro. The NBG said 1 EUR will cost 2.6251 GEL. The previous rate was 2.5771 GEL.
On another note the NBG purchased $5 million USD at a Foreign Exchange Auction today for the first time since 2014 - the year when the Lari started depreciating.