Georgian national currency, Lari (GEL) fell to 2.5206 against U.S. Dollar and to 2.9635 against Euro on October 25.
GEL was trading at 2.4894 against U.S. Dollar a day earlier, with the Euro-Lari exchange rate standing at 2.9240.
Meanwhile, the National Bank of Georgia (NBG) announced on October 25 that the key refinancing rate would remain unchanged at 7%.
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.
