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Georgian Lari Continues to Depreciate: Dollar Price Hits 3 Gel

The Georgian national currency, the Lari (GEL) continues to depreciate.

Commercial banks are already selling one dollar for three GEL, while at the Bloomberg Trade Terminal, the rate is still rising.

It will be clear in a few hours whether the GEL will continue to depreciate. The rate will be announced at 17:00 at the end of the day. Until then, there is panic in the market. Businesses are already announcing a rise in prices on food and daily consumables.

By Ana Dumbadze

30 July 2019 13:10