The Ministry of Finance predicts the stability of lari in the medium term

2022/08/78687-1660594147.jpg
Read: 415     11:00     16 Август 2022    

Georgian Finance Minister Lasha Khutsishvili predicts the stability of lari in the medium term.

Since the beginning of August, the Georgian national currency has devalued against the dollar by more than 2%. Analysts believe that this was the result of two factors – the elimination of the seasonal effect and the interventions of the National Bank. From August 1 to August 12, the regulator bought $ 70 million at currency auctions.

"Naturally, depending on the daily data, there may be fluctuations, but in the medium term, the GEL exchange rate will be stable, this will ensure today's economic activity in the country," Khutsishvili said after a government meeting.

According to him, the stability of the GEL is guaranteed by the growing rates of exports, the restoration of tourism and the inflow of funds.

The official exchange rate of the GEL against the dollar and the euro on August 15: 2.7089 GEL/$1 and 2.7880 GEL / €1.

TBC Capital analysts expect that by the end of the year the exchange rate of the national currency will be set at 2.8 GEL per 1 dollar.





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The Ministry of Finance predicts the stability of lari in the medium term

2022/08/78687-1660594147.jpg
Read: 416     11:00     16 Август 2022    

Georgian Finance Minister Lasha Khutsishvili predicts the stability of lari in the medium term.

Since the beginning of August, the Georgian national currency has devalued against the dollar by more than 2%. Analysts believe that this was the result of two factors – the elimination of the seasonal effect and the interventions of the National Bank. From August 1 to August 12, the regulator bought $ 70 million at currency auctions.

"Naturally, depending on the daily data, there may be fluctuations, but in the medium term, the GEL exchange rate will be stable, this will ensure today's economic activity in the country," Khutsishvili said after a government meeting.

According to him, the stability of the GEL is guaranteed by the growing rates of exports, the restoration of tourism and the inflow of funds.

The official exchange rate of the GEL against the dollar and the euro on August 15: 2.7089 GEL/$1 and 2.7880 GEL / €1.

TBC Capital analysts expect that by the end of the year the exchange rate of the national currency will be set at 2.8 GEL per 1 dollar.





Tags: