BAKU, Azerbaijan, Feb. 2
By Maryana Akhmedova – Trend:
The increased monetary policy rate in Georgia is the reason for strengthening of the national currency (Georgian lari), the economist at the Galt & Taggart investment bank Lasha Kavtaradze said, Trend reports via Georgian media.
According to the economist, the deposits in Georgian lari are growing due to the increased monetary policy rate, while the deposits in foreign currency decrease.
In other words, those who already have deposits in foreign currency are not in a hurry to convert them in Georgian lari due to the possible risks, Kavtaradze said.
Another reason for the national currency appreciation is the fact that Georgian Government reduced the spending and was mainly engaged in accumulating the deposits, the economist added.
As a result of trading on February 1, 2022, the national currency of Georgia strengthened to the US dollar, resulting in an official value of 3.0451 Georgian lari/$1.
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