In Q2 2018, compared to the previous quarter, the nominal exchange rate of GEL has stabilized by 1.6% to USD and 4.4% to Euro. Besides, compared to the previous quarter, GEL stabilized in relation to Russian ruble and Turkish lira by 9.5% and 13.8% respectively.
According to the National Bank, in Q1 2018, the actual effective exchange rate stabilized by 4.0% quarterly and depreciated by 1.5% annually.
As far as other currencies are concerned, in Q2 2018, compared to similar period of last year (2017), the GEL actual exchange rate in relation to the currencies of the countries of the region and trade-partner countries changed as follows:
- Depreciation to euro by 8.4%
- Stabilization to Turkish lira by 9.3%
- Depreciation to Ukrainian grivna by 10.2%
- Depreciation to Armenian dram by 0.5%
- Stabilization to Russian ruble by 7%
- Depreciation to Azerbaijani manat by 0.5%