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The Lari against the US Dollar

Published: November 9, 2013 | 7:54 am
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The Georgian Lari has fallen to its lowest point since December 2011 against the US Dollar. $1 now costs GEL 1.67.
According to the National Bank’s official data, the national currency has been losing value on a consistent basis for the past week. The bank has not been able to clarify precisely what has caused this trend.
The expert Giorgi Abashishvili has not ruled out the possibility of an artificial process taking place, and has called upon the National Bank to clarify the situation.
The International Monetary Fund pointed towards the Lari’s high exchange rate and explained that the national currency’s inflation rate is substantially lower than the target figure.

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