Economy
Posted:
4 years ago
GEL Strengthens to 3.07 Rate in 2 Days
Over the past week, the GEL exchange rate against USD has strengthened by 10 Tetri. After the June 2 trading session, 1USD amounted to 3.07 GEL, up from 3.1716, week on week, the National Bank of Georgia (NBG) reports.
BusinessPressNews has inquired what is the reason behind the GEL exchange rate strengthening.
Economic expert Lasha Gotsiridze says that GEL is getting back to the normal exchange rate after the state of emergency.
“There are various reasons why GEL strengthens against USD. I think the plunge to 3.20 rate was driven by the public panic, not by real grounds. Therefore, after the pandemic GEL is getting back to its natural balance point.
It is difficult to forecast and make deep and valuable analysis how GEL may act in the following days. The fact is the COVID-related panic has settled and the GEL exchange rate started normalization”, Lasha Gotsiridze pointed out.