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The Lari falls against the Euro by 243 Points

Published: December 10, 2013 | 8:02 am
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The Lari’s official exchange rate against the US Dollar has today reached record figures, falling by 134 points to 1.7196. This is the lowest that the Lari has been since March 2011. It has been devalued by 2.8% since November, and by 3.4% since the beginning of the year.
However, the national currency suffered devaluation to a far more serious extent against the Euro, falling by 243 points and also reaching a two-year low at GEL 2.3632 for a Euro. Against the Euro, the Lari has been devalued by 4% since November and by 7.5% since the beginning of the year.
Neither the Georgian National Bank, nor the Finance Ministry, see any threats in the fall of the Lari’s exchange rate. The ministry has linked the national currency’s devaluation to seasonal factors.

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