GEL Continues Sliding Against USD, EUR
Civil Georgia, Tbilisi / 10 Nov.'17 / 17:25

Georgian national currency, Lari (GEL), continues depreciating against U.S. Dollar and Euro.

GEL is trading at 2.6370 against U.S. Dollar today, a day after it was selling at 2.6272.

Lari depreciated against Euro as well, reaching 3.0608. Euro-Lari exchange rate stood at 3.0468 yesterday.

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.

Lari 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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