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Tag Archives: Exchange Rate

PM about Government Plans for Alleviation of GEL Exchange Rate Fluctuation

Objective of Georgian Government is to achieve an efficient integration in global economy and alleviate vulnerability to external factors, Georgian Prime Minister Mamuka Bakhtadze told BM.GE regarding government plans for alleviation of GEL exchange rate volatility and attracting new investors. The Prime Minister also appraised macroeconomic situation, but has nothing …

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Loans Till 100,000 Laris Will be Issued only in GEL

Lari GEL Loan

From January 2017, small loans equaling 100 000 laris will be issued only in GEL. Georgian PM Giorgi Kvirikashvili announced. In addition loan limit will increase till 200 000 GEL. According to him, a new commercial law will be introduced soon which will make inevitable to publish prices of goods and …

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Georgian Lari Depreciates Against U.S Dollar

The Georgian lari depreciated against the U.S dollar. Starting on November 20, 1 USD costs 2.4889 GEL. This exchange rate was set by The National Bank of Georgia. Previously, 1 USD cost 2.4861 GEL. Although the lari depreciated against the U.S dollar by 0.0028 GEL, The National Bank of Georgia …

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There are no Dangerous Tendencies for GEL Exchange Rate

The head of “TBC” supervisory board declared that there are no dangerous tendencies for GEL exchange rate and instability for Georgian money is not something new. “There is nothing dangerous happening concerning GEL exchange rate. Everything is great in Georgian economy. We have an economic growth.  As for GEL exchange …

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Commercial Banks’ Credit Portfolio Shrinks by 241.4 million GEL

Commercial Banks’ Credit Portfolio Shrinks by 241.4 million GEL

In March, as compared to February, commercial banks have cut credit injections in the economy by 241.4 million GEL and the crediting volume fell to 15.62 billion GEL. The credit portfolio shrank after the GEL ratio in foreign currency denominated loans narrowed. The annual growth rate in loans portfolio at …

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Finance Ministry Made No Influence on GEL Exchange Rate Changes

Finance Ministry Made No Influence on GEL Exchange Rate Changes

 Georgian Finance Minister Nodar Khaduri has commented on strengthened GEL exchange rate and explained the tendency by changed situation on the regional level. The Finance Ministry has not made influence on either upturn or devaluation of the GEL exchange rate. “External factors have changed and regional economies, including oil exporter …

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GEL Approaches Its All-Time Low

GEL

PM Irakli Garibashvili and his economic team met central bank chief Giorgi Kadagidze on Monday evening as the Georgian currency lari (GEL) weakened to near its record low. Lari fell to 2.4499 per U.S. dollar, according to central bank’s official exchange rate set for Tuesday, approaching its all-time low of …

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