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GEL Exchange Rate Sees 10 Years’ Bottom

The reporting period from December 1 to December 5 has recorded a 3.3% downturn in GEL exchange rate against USD from 1.8368 point to 1.8984 point, a 2.2% contraction against EUR from 2.2872 point to 2.3383 point. Moreover, GEL exchange rate shrank against GBP to 2.9780 point to 2.8825 point. At the same time, the GEL exchange rate strengthened by 3.2% against Rubles to 3.6027 from 3.7241 point.

The Georgian national currency has depreciated by 9.3% against USD, strengthened by 2.2% against EUR, fell by 4% against GBP and strengthened by 32% against Ruble YTD.

As to the past, that is the same reporting periods for the last 10 years, the highest GEL exchange rate against USD was recorded at 1.6160 point on December 5, 2007 and the lowest rate of 1.8359 emerged on December 5, 2004. The highest GEL exchange rate against EUR was registered at 2.0811 point on December 5, 2008 and the lowest rate of 2.5180 was reported in December 2009. The weakest GEL exchange rate against GBP was marked at 3.5282 on December 5, 2004 and the strongest rate of 2.4075 was recorded on December 5, 2008.

The GEL exchange rate changes against various currencies YTD are as follows: