Eva Bochorishvili, the Head of Research Department at Galt & Taggart, named depreciation of Turkish lira as the reason for lari depreciation.
About this, Eva Bochorishvili stated to BM.ge while commenting on GEL exchange rate fluctuations.
“Currently, fluctuations of currency rates on the international market are connected to record depreciation of Turkish lira. If the above process continues, we expect that by the end of 2018, GEL exchange rate to USD will fluctuate within the limits of 2.70, which is higher than the previous forecast – 2.60. according to our assessment, during the last 6 months, every 10% depreciation of Turkish lira to USD has caused 1,2% depreciation of GEL to USD. Besides, we presume that with the background of Foreign Direct Investments (FDI), tourism and import, in August/September, the pressure on GEL may reduce,” – stated Eva Bochorishvili.
