03 May 2024,   15:00
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Unprecedented devaluation of GEL against Euro

The national currency has devaluated in relation to the euro. The price of Euro has exceeded 3 lari and the National Bank exchange rate is 3.1GEL. In individual private banks, the euro is more expensive.
 
The rate for US dollar" is also rising. According to the official rate, the price of the US dollar is 2.549 GEL. The price on the market has increased to 2.6 GEL..
 
Despite the statements made by the National Bank of Georgia, experts say the main reason for the depreciation of Lari is the pre-election interference.
 
"One version is that the Lari rate was artificially detained, the second version is worse for the government that their victory had a negative impact on the markets," says Gia Jandieri.
Specialists are convinced that the course was artificially maintained for managing the voters` mood. Experts expect an increase in prices on products and call on the authorities to inform the public about the expectations.

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