After a two-day slight devaluation, the lari keeps gaining its value. In the first quarter of 2023, the lari’s nominal effective exchange rate appreciated by 4.7% quarterly and by 25.3% annually against the dollar.
"The upward trend will last until November, then the national currency will lose some of its value and by the end of the year will range within 2.75-2.80. In the summer, the government will maintain the current exchange rate, and most likely no serious fluctuations are expected," financier Nika Shengelia notes.
In Shengelia’s words, one of the main factors to strengthen the lari is the inflow of foreign currency which has increased four-fold since the beginning of the war.
“The country gets large banking transactions from Russian citizens moved to Georgia. 20,000 companies officially do business here, money transfers from Russia are constantly growing,” the expert says.
