ECONOMY

The trouble of Lari, the national currency of Georgia

24.12.19 15:55


Economic and financial experts say the inflation and depreciation of GEL prevent the well-being and economic growth across the country.

 

The experts focus on Georgia being dependent on the import that makes the national currency depend on the trade partners' currencies as well. 

 

They say the United States dollar influences the Lari most. Turkish Lira also does. 

 

"The economic and political processes that are underway in Turkey directly influence Georgia. Lari and Lira are in close correlation with the USD. For example, the depreciation of five Turkish Lira directly influences the Georgian currency," reads the work by Georgian analysts Vakhtang Charaia, Shota Gulbani, and Otar Anguridze. 

 

To note, 1 USD equals 2.8760 GEL while 1 EUR equals 3.1889 today. 1 Azerbaijani Manat equals 1.6853 while 1 Turkish Lira is 0.4841 GEL. 

 

 

 

source: report.ge

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