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Tag Archives: lari

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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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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IFC Invests $45 mln in Bank of Georgia’s Lari-Denominated Bonds

GEL

The World Bank’s International Finance Corporation said on Friday it had invested 108.3 million lari ($45 million) in Bank of Georgia’s first local-currency bonds sold outside Georgia, in a move intended to help attract investment in the country’s private sector. Bank of Georgia, the country’s biggest bank by assets, priced …

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March Records 5.5% Upturn in GEL Exchange Rate against USD

Lari

GEL exchange rate against USD has strengthened by 5.5% in March 2017. In the reporting period the national currency strengthened from 1$=2.5837 to 1$=4354. The official exchange rate strengthened by 5% in February, after 2.2% contraction in January 2017, 6.5% plunge in December 2016, 5.1% downturn in November 2016 (from …

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Whether GEL Overcomes Crisis

A major part of experts and analysts expected that the GEL exchange rate would depreciate further in January-February 2017, but the situation went in opposite direction  and the Georgian national currency recorded strengthening tendency. As a result, 1 USD equaled to 2.6429 GEL as of February 17,  after seeing the …

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Georgian Lari Among the Best New Global Banknotes

Georgian Lari Among the Best New Global Banknotes

Georgian lari  has won Oscar of Paper Currency fordesign of monetary banknotes. “On the front is Queen Tamar, who ruled the country from 1184 to 1213, a period known as the “Georgian Golden Age.” The note has a holographic stripe and a magenta-to-green security thread”- writes Bloomberg. The International Bank …

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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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Factors Behind the Georgian Lari’s Depreciation

Factors Behind the Georgian Lari’s Depreciation

National currency continues its free-fall. Economic experts believe that the lari depreciation was caused by the domestic economic problems. The head of the Accumulation Management Company Private Banking, economic expert Irakli Berdzenadze says in his interview with Commersant that the cause for the depreciation of the lari is the country’s …

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New 100 GEL Banknotes Appear in Turnover

National Bank of Georgia (NBG) injected new 100-GEL banknotes in turnover. The new banknotes will run in turnover jointly with old patterns. The banknote is of violet color and its dimensions make up 70mmx142mm. The banknote foreside depicts the image of Shota Rustaveli with indication – Shota Rustaveli XII century, …

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Erroneous Panics around GEL

lari

It is Fraudulent Statement as if GEL Depreciation Brings Negative Outcomes and Appreciation Yields Positive Results Currency Exchange Rate Must Be Stable. The last period has actualized the GEL exchange rate issue again. The Georgian national currency rate against USD has not changed considerably, but our society has demonstrated certain …

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