ECONOMY

The reason of the depreciation of GEL is the expectations of the players on the market, deputy Finance Minister says

22.05.19 17:00


GEL [the Georgian national currency] has depreciated only against the US dollar and not against other currencies, - Deputy Finance Minister Giorgi Kakauridze said in the Parliament on Wednesday.

 

According to Kakauridze, the reason of the depreciation of GEL is the expectations of the players on the market.

 

"There is no fundamental macroeconomic basis for depreciation of GEL, and therefore, macroeconomic factors have no impact on the GEL’s rate. The reason of the depreciation of GEL is likely the expectations of the players on the market. GEL has depreciated only against the US dollar and not against other currencies,” the Deputy Finance Minister said.

 

source: IPN/ interpressnews.ge

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