Business Political Insights BPI.GE
TBILISI(BPI)- Today the Georgian lari has lost some of its value via Bloomberg trading platform. Trading has started at $ 1 / ₾ 3.4762 this morning, by 12:20 pm one dollar stood at GEL 3.4731.
The lari’s rate at commercial banks is relatively different. At TBC Bank one US dollar can be bought for GEL 3.5200 and sold for GEL 3.4200. At Bank of Georgia one US dollar is sold for GEL 3.5250 and bought for GEL 3.4250.
Recall, yesterday “Commersant” tried to find out about the situation in the region and how much the national currencies are depreciating against the dollar amid coronavirus outbreak . As it turns out, COVID-19 has had the most pronounced negative effect on the Georgian lari in the region, and despite the Minister of Economy Natia Turnava’s convincing statement, over the past month the currencies of Georgia’s neighbors either have declined slightly or have gained some of their value via Bloomberg
Among the currencies of Georgia’s neighbors, the Armenian dram has depreciated the most (1.2%) since March 18 or 16-fold less than the lari. The price of the Turkish lira has not changed (0.0%) during the same period, while the currencies of other neighbors have strengthened.
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