The rouble, not the dollar, was the lari's mover in late October

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The Russian rouble made the clearest gain against the lari over the eight trading days shown: 100 roubles were worth 3.2307 GEL on 31 October, up from 3.1581 GEL on 22 October, a rise of 0.0726 lari with most of it already in place by 24 October at 3.2237. The Armenian dram firmed more modestly, 1000 drams moving to 7.2100 GEL from 7.1731.

The dollar did almost nothing: 2.5992 lari on 31 October against 2.5976 on 22 October, and the Azerbaijani manat, which tracks it closely, ended the window at 1.5292. The Federal Reserve left its policy rate unchanged at its meeting on 28 October, and the dollar-lari rate shows no visible response to it.

The euro traced the widest round trip, easing to 2.8875 lari on 29 October from 2.9163 on 22 October before recovering to 2.9116. The Turkish lira was the only consistent direction, lower at every step from 0.0524 to 0.0520 lari — a marginal saving for importers buying in Turkey, a loss of the same size for anyone selling in lira.

Georgia ExchangeRates FX

Figures in this post

Every number below was checked against the source before publication.

• FX_AMD_GEL Armenian dram to lari National Bank of Georgia
• FX_AZN_GEL Azerbaijani manat to lari National Bank of Georgia
• FX_EUR_GEL Euro to lari National Bank of Georgia
• FX_RUB_GEL Russian rouble to lari National Bank of Georgia
• FX_TRY_GEL Turkish lira to lari National Bank of Georgia
• FX_USD_GEL US dollar to lari National Bank of Georgia