Savings of Georgians denominated in foreign currencies have totaled GEL 21,619,841, 000 as of Dec 1, 2020, up from GEL 17,436,968, 000 as of the same period of the prior year. Following US$ and EUR, pound sterling is the third most popular foreign currency among Georgian depositors.
Out of the total, GEL 21,619,841, 000 deposit portfolio in foreign currency, the share of demand deposits, including current accounts was GEL 11,594,287, 000 as of Dec 1, 2020, as for the time deposits, it amounted to GEL 10,025,554, 000. With GEL 8,886,885, 000 US$ is the first most popular foreign currency among Georgian depositors. It was followed by EUR, with GEL 1,015,825, 000 and GBP, with GEL 100,097, 000. With GEL 13,606, 000 Swiss franc, or CHF is the fourth most popular foreign currency among Georgian savers.
Depreciation of Georgian lari against EUR, GBP, CHF, and US$ during 2020, in particular as of Jan 1, and Dec 31, 2020, was as follows: EUR 3.2143 vs 4.0233, GBP 3.7735 vs 4.4529, CHF 2.9621 vs 3.7103, and USD 2.8661 vs 3.2766.
