US dollar nearly reaches record high in Georgia

Baku. 21 November. REPORT.AZ/ US dollar exchange rate in Georgia has nearly reached a record high. 

Report informs, yesterday, US dollar rate in cash on foreign exchange market reached 2.7250 lari and currently makes 2.70 GEL/USD. Notably, record rate of US dollar in Georgia was recorded on December 22, 2016 (2.8205 lari). Currently, exchange rate is 4.3% below this record high. Notably, dollar in Georgia up by 10% monthly.

Central Bank of Georgia said in a statement that the current process is related to changing factors and is temporal: "If Central Bank observes the risk of inflation, there will be interference in currency market".

Analytical Group of Report News Agency explains reason for the rise in dollar in Georgia with the similar processes in Russia and Turkey, main trading partners in the region: “Although, dollar rise is temporal this time, in 2018 it will be inevitable in all countries of the region and in global currency market”.