National currency devaluated against USD by 10 tetri for the last 2 days.
As a result of the last trade, 1USD costs 3.34 GEL. National currency is depreciated against EUR and cost of 1 EUR totals to 3.90 GEL.
According to David Keshelava, economist at the ISET Research Center, negative expectations have an impact on GEL rate today - especially the tense and chaotic political environment, as well as growing statistics of infected persons with COVID-19.
"Lari has been relatively stable for some time. It has started significant deprecation after the election, so we can say that the main factor of rate fluctuation is the political instability that followed the election. However, there are other factors that could potentially put pressure on lari exchange rate. As you know, the epidemic situation has worsened in the country, which makes the future unpredictable both for economically and politically.
Another factor of lari depreciation might be Turkish lira, which has depreciated to a record high; Turkey is one of the main trading partners for Georgia, so current events in Turkey also affect the economic situation in our country," - said the economist.
