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National Bank Intervention Gives Struggling GEL a Bump against USD

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The national currency, Lari, has slightly appreciated against U.S. dollar raising to 2.9296, as the National Bank of Georgia (NBG) sold USD 32.8 million at an exchange auction on August 1.

The NBG announced on July 31 that it would sell USD 40 million today as Lari had hit a record low against U.S. dollar, falling to 2.9507.

As of January 4, 2019, GEL exchange rate stood at 2.6752 per USD.

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