GEL Appreciates Against USD, EUR
Civil Georgia, Tbilisi / 15 Dec.'17 / 17:57

Georgian national currency, Lari (GEL), appreciated to 3.0256 against EUR on December 15, few weeks after falling to its all-time low of 3.2440 on November 28.

GEL appreciated against U.S. Dollar as well, reaching 2.5597. The Dollar-Lari exchange rate was floating at around 2.70-2.72 in the second half of November, 2017.

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 and reaching its lowest (2.7268) for the second half of the year on November 18.

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