Georgian lari keeps on falling

Georgian lari keeps on falling

access_time2021-04-14 12:50:30


After a brief phase of relative stability, the lari resumes free fall.

 

Georgian national currency has lost its value against the US dollar and stood at GEL 3.4450 per dollar via Bloomberg trading platform.

 

The dollar traded at 3.4450 on April 14 at 12:30 on the Bloomberg trading platform, which is 2.15 tetris higher than the official rate.


 

On January 1, the national currency stood at GEL 3, 2766 per dollar, by February 1 it had already fallen to 3, 3026, by March 1 the official exchange rate of the national currency was set at GEL 3, 3255 per dollar, and today – GEL 3, 3413.

 

In 3 months of 2021, the lari depreciated by 2.1%.


The government has not yet commented on the current decline, although it is expected that the depreciation  will traditionally be associated with external shocks and a floating rate.

If the plunge in the  official exchange rate is maintained until the end of the year, by December 31 the dollar rate will exceed the mark of GEL 4.00.

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