26 April 2024,   14:20
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GEL devaluation reached record - experts speak about reasons

National currency reaches new anti-record. On the sixth day after the elections, GEL is on the lowest point in the history of its existence. The cost of one euro is 3.01 GEL according to the rate of the National Bank, but the exchange rate in private banks is even higher. The cost of the dollar increases as well.

According to official data, one US dollar today is 2.55 GEL. 2.60 GEL in the currency exchange booths.

Experts talk about several reasons for the depreciation of the national currency. Among them are the expectations of the population, as analysts say, in this period of the year GEL always depreciates.

"Along with the completion of the elections, the devaluation of GEL is coincidental. Maybe because the elections were in the second half of the autumn,"- said Besik Namchavadze, chief economist at the Georgian Association of Reforms.

Economist Irakli Kipiani states that one of the reasons for the impairment of the Georgian GEL is an internal factor

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