Georgian lari depreciates by 2.6% in last month, 1 USD costs 3.4464 GEL
The official exchange rate shows that as of today 1 USD costs 3.4464 GEL (previous rate was 3.4118 GEL) and 1 EUR costs 4.0426 GEL (previous rate was 4.0044 GEL). Photo: Nino Alavidze/Agenda.ge.
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The Georgian national currency, the lari, has depreciated in value by 2.6% against the US dollar in the last month.
The official exchange rate shows that as of today 1 USD costs 3.4464 GEL (previous rate was 3.4118 GEL) and 1 EUR costs 4.0426 GEL (previous rate was 4.0044 GEL).
Images: NBG.
Earlier last week, the National Bank of Georgia (NBG) sold $40 million to mitigate the rising depreciation of the lari exchange rate.
The head of the National Bank of Georgia Koba Gvenetadze said that the NBG has repeatedly saved businesses and the population with timely interventions.
We will overcome this shock by maintaining reasonable and consistent approaches, which is a guarantee of the support from international partners", posted Gvenetadze on his Facebook page.
After a meeting between business society and the Prime Minister of Georgia Irakli Garibashvili earlier today, director of the TBC Bank Vakhtang Butskhrikidze told the reporters that in near future representatives from the NBG, businesses and the government will meet and discuss the ongoing depreciation of the lari.
The estimated real gross domestic product (GDP) of Georgia declined by 5.1% in February 2021 year-on-year and by 8.3% in January-February of 2021 year-on-year, show preliminary data from the National Statistics Office of Georgia (Geostat).
The latest ‘Europe and Central Asia Economic Update’ published by the World Bank reads that the Georgian economy is unlikely to recover to pre-Covid levels until late 2022. The World Bank says that the Georgian economy is projected to expand to 4% in 2021 and then to firm to 5% in 2022.
A year into the coronavirus pandemic Georgians remain concerned about the state of the economy and the impact of Covid-19, reads poll results released today by the National Democratic Institute (NDI or the Institute) and CRRC Georgia.
The Georgian national currency, the lari, has depreciated in value by 6.5 tetri against the US dollar and by 4.3 tetri against the Euro in just one day.
The National Bank of Georgia (NBG) offered $40 million at the foreign exchange auction today of which $27.5 million was sold, announces the NBG. The average weighted rate was 3.4401.
The National Bank of Georgia (NBG) offered $40 million at the foreign exchange auction today of which $25.4 million was bought, announces the NBG. The official exchange rate shows that as of today 1 USD costs 3.4363 GEL and 1 EUR costs 4.1115 GEL.
The National Bank of Georgia (NBG) has sold $30 million at foreign exchange auction today as a result of which the national currency, the lari, has strengthened slightly against the US dollar and depreciated against the euro.