GEL Value Appreciates Slightly

Georgian national currency, lari (GEL) appreciated to 2.6683 against U.S. dollar after falling to 2.7846 a week ago.

GEL was trading at 2.7302 against U.S. dollar a day earlier. GEL also appreciated to 2.7889 against EUR compared to 2.8520 a day earlier.

GEL started appreciating after the National Bank of Georgia sold USD 40 million at a foreign currency auction on December 20 to support lari.

Since the start of 2016, NBG sold a total of USD 280 million and bought USD 278.35 million in 24 currency market interventions.