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GEL Returned to the Strengthening Trend

GEL Returned to the Strengthening Trend

GEL has returned to the strengthening trend after the resume of foreign exchange trade.

GEL started devaluation unexpectedly on March 2 and cost of 1 USD grew up to 2.54 GEL, despite the fact that strengthening trend had been fixed through day.

To note, trade stated at $1/2.4925 point at the Bloomberg on March 6. However, the rate increased up to 2.5050, but the exchange rate strengthened by 2.48% at 10:50 pm. Now, the rate is $1/2.4453.