Economy

March Records 5.5% Upturn in GEL Exchange Rate against USD

March Records 5.5% Upturn in GEL Exchange Rate against USD May 10, 2018Leave a comment
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GEL exchange rate against USD has strengthened by 5.5% in March 2017. From the reporting period the national currency strengthened from 1$=2.5837 to 1$=4354.

The official exchange rate strengthened by 5% in February, after 2.2% contraction in January 2017, 6.5% plunge in December 2016, 5.1% downturn in November 2016 (from 2.4091 to 2.5311), 3.4% drop in October 2016.

According to a monthly report by National Bank of Georgia (NBG), real effective exchange rate in the national currency? rose by 2.4% in February, while nominal effective upturn constituted 1.1%.

No currency auction occured in February 2017.

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