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Koba Gvenetdze Makes a Comment on Sharp Devaluation of GEL

Koba Gvenetdze Makes a Comment on Sharp Devaluation of GEL

President of National Bank of Georgia links GEL devaluation to the agotage created by the expectations on the market. Koba Gvenetadze does not name concrete factors, what provoked the negative expectations. He declares that many factors are component of expectations and their separation is hard. “USD rate has been increased …

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Economist: Dynamics of Georgian Currency Rate through 2015

Inflation

The GEL depreciation started in November 2014 and the process continued throughout 2015. In November 2014, the GEL exchange rate against USD stood at 1.75, and at 2.18 against EUR. The GEL rate in relation to USD fell to 1.88, as of January 1, 2015, and the national currency rate …

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New devaluation in Kazakhstan?

Kazakhstan’s currency lost more than 20 per cent of its value at the start of trading on Thursday, about an hour after the surprise announcement that the government would allow the currency to float freely. One US dollar now buys 257.7 tenge, taking the Kazakh currency’s year-to-date plunge to nearly …

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