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Nodar Khaduri: There is nothing Unusual or Alarming about the Fluctuation of the Lari’s Exchange Rate

Published: December 11, 2013 | 6:00 pm
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The Finance Minister, Nodar Khaduri, has stated that the increase in the demand on the Lari in December has objective reasons behind it.
“There is nothing unusual about the fluctuation of the Lari’s exchange rate. If you have a look at the currencies in neighbouring countries, you will also detect fluctuations there. This is a normal occurrence in economics, and there is nothing alarming about it,” the minister stated, noting that he does not expect an increase in prices, as the consumer market is quite saturated.
Yesterday, the Lari fell against the US Dollar by a record 134 points to the 1.7196 mark – its lowest value since March 2011. The Lari has been devalued by 2.8% since November, and by 3.4% since the beginning of the year.
However, the national currency suffered devaluation to a far more serious extent against the Euro, falling by 243 points and also reaching a two-year low at GEL 2.3632 for a Euro. Against the Euro, the Lari has been devalued by 4% since November and by 7.5% since the beginning of the year.

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