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Tag Archives: GEL

Why Government Fails to Stabilize GEL Exchange Rate

GEL exchange rate remains the most challenging issue in Georgian society. Both ordinary citizens and experts have been actively discussing this topic. Over the past period the GEL depreciation has beaten the historical maximum. The national currency devaluation has made negative effect on both economy and social condition of our …

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IMF: Turkish LIRA Depreciation will Devaluate Georgian GEL

The current economic situation in Turkey will make influence on the Region, especially on the countries, with which Turkey has direct trade relations. In this respect International Monetary Fund (IMF) outlines Georgia and Azerbaijan, the last IMF review reads regarding the Central Asia and Caucasus countries. IMF presumes that Turkish …

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Georgian Currency Seeking Point of Balance

Experts Forecast GEL to Fall to 2.90 point against USD. According to National Bank of Georgia (NBG), today, the GEL exchange rate against USD is 2.56, while at commercial banks the exchange rate stands at 2.62-2.66 point. On August 13 in the Bloomberg trading systole the GEL exchange rate against …

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GEL Resource Rises in Value

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Interbank currency market has shrunk, as a result of contraction in GEL resource turnover. Turnover made up 7.36 billion GEL (-400 million month on month and – 4 billion year on year). Monthly turnover of foreign currency rose by 500 million GEL. According to the Monthly Report by NBG, the …

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GEL/USD Turnover Shrinks on Currency Market

GEL/USD Turnover Shrinks on Currency Market

GEL/USD turnover has shrunk on currency market. Without NBG interventions (70 million USD), in June the contraction constituted 29% month on month (-33 million USD).  According to Monthly Review of NBG, number of deals between market players has decreased (-32% month on month; -19% year on year). Currency market concentration …

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Liberty Bank Keeps 98% of Loan Portfolio in GEL

Liberty Bank Keeps 98% of Loan Portfolio in GEL

Liberty Bank keeps 98% of its loan portfolio in GEL, while ratio of retail loans accounts for 99%. As of June 1, market ratio of Liberty Bank is 4.2%. The bank ranks third in terms of assets (5.6%). Assets 1  650 114 Loans     892 100 Deposits 1 241 680 Net …

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Cartu Bank Profits Marked 5.6 million GEL as of May 1

Cartu Bank Profits Marked 5.6 million GEL as of May 1

Cartu Bank profits marked 5.6 million GEL as of May 1 and the bank’s ratio in total profits of commercial banks (296.6 million GEL) made up 1.9%. Profitability coefficient considerably worsened in April. Return on Equity (ROE) made up 8.61%; Return on Assets (ROA) totaled 1.41% (Q1/2017 -11.2%; 1.77%). The …

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Giorgi Papava: Banks did not sell Larization of Loans as a Product

Economists explain less interest of population towards larization program by fewer activities of banks. Economist Giorgi Papava regards, that banks have not sold larization of loans as a product. They do not convince customers to apply loans in GEL with the same effort as they do in the case of …

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GEL Returned to the Strengthening Trend

GEL Returned to the Strengthening Trend

GEL has returned to the strengthening trend after the resume of foreign exchange trade. GEL started devaluation unexpectedly on March 2 and cost of 1 USD grew up to 2.54 GEL, despite the fact that strengthening trend had been fixed through day. To note, trade stated at $1/2.4925 point at …

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