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Lari’s 'scream' - Sharp depreciation of GEL against USD and Euro
01 December, 2016
Dollar price has reached 2.73 Gel in several commercial banks. Georgia’s commercial banks have placed information on their web pages but the data change through all day. As reported, 1 USD costs 2.71 Gel in Bank of Georgia. 2.59 is its selling price. Dollar price is 2.7090 Gel in TBC bank. Its selling price is 2.5910 Gel.As reported by Liberty Bank, 1 USD costs 2.71 Gel and its selling price is 2.57 Gel.At VTB Bank, 1 USD costs 2.7350 Gel. Its selling price is 2.5750 Gel. The national currency of Georgia has further depreciated against the dollar. We expect GEL to stop depreciation and gain value shortly, - reads the statement released by the National Bank of Georgia. The National bank of Georgia has responded to sharp depreciation of GEL against USD and Euro. “The sharp change of the exchange rate is not caused by current economic processes in the country. Last month the USD has significantly gained value against the world currencies – this is the highest rate of the dollar since 2003. Besides, it has been caused by the population’s expectations. Their demand for the dollar has increased. From our point of view the exchange rate is beyond the one conditioned by the fundamental factors. Therefore we expect the lari to stop depreciation shortly,” the statement reads.

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Exchange Rates
GEL Exchange Rate
Convertor
21.11.2018
22.11.2018
USD
1
USD
2.6741
2.6741
EUR
1
EUR
3.0581
3.0581
GBP
1
GBP
3.4421
3.4421
RUB
100
RUB
4.0707
4.0707