National Geographic has recently visited Georgia’s crumbling ex-Soviet spa resorts.
An exciting news for the clubbers and night life lovers - Georgia’s capital Tbilisi joins the seven cities throughout the world
Archive Calendar
Exchange Rates
23-04-2018
GBP
1
GBP
3.4343
SGD
1
SGD
1.8568
ZAR
10
ZAR
2.0307
EUR
1
EUR
3.0017
People expect that the Lari will be deprecated by the end of the year and they try to buy the currency at the beginning of the fourth quarter - Deputy Finance Minister
10:18 03-11-2017
People expect that the Lari will be deprecated by the end of the year and they try to buy the currency at the beginning of the fourth quarter - Deputy Finance Minister Businesses and people expect that the Lari will be deprecated by the end of the year and they try to buy the currency at the beginning of the fourth quarter, - Deputy Finance Minister Giorgi Kakauridze said at the Finance and Budget Committee meeting yesterday.

According to Giorgi Kakauridze, the Lari started to fluctuate in November 2014. "At that time, the national currencies were significantly devaluated in our trade partners - Turkey, Azerbaijan, Armenia, etc. Although great efforts were taken and billions were spent, our trading partner countries could not solve the problem," Kakauridze said, adding that depreciation of the trading partners' currencies always affect the country's exchange rate.

As for today's situation, Giorgi Kakauridze stated that all the factors that affect the exchange rate are positive. According to him, today's situation was not caused by the fundamental factors, but mainly by the expectations.

"Unfortunately, these expectations have been created over the past few years. Businesses and people expect that the Lari will be deprecated by the end of the year and they try to buy the currency at the beginning of the fourth quarter, which affects the exchange rate, "Kakauridze said.

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