GEL Appreciates Slightly Against USD, EUR
Civil Georgia, Tbilisi / 7 Nov.'17 / 09:56

Georgian national currency, Lari (GEL), appreciated to 3.0301 against EUR on November 7, four days after falling to its all-time low of 3.0625.

GEL appreciated against U.S. Dollar as well, reaching 2.6108. The Dollar-Lari exchange rate stood at 2.6297 on Friday, November 3.

GEL started depreciating in November, 2014, falling to its record low of 2.7846 against U.S. Dollar on December 22, 2016. It continued falling throughout most of January this year and started recovering from February.

GEL was relatively stable for about five months before September, hovering around 2.39-2.44 per U.S. Dollar, about 40% weaker compared to November, 2014, when GEL first started depreciating. But from early September it started falling again, dropping dramatically in the last few days of October.

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