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Georgian lari depreciates by 2.6% in last month, 1 USD costs 3.4464 GEL

31-Mar-2021

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.

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