TBILISI, DFWatch–The Georgian government offers a temporary aid package to people who have their mortgage loans in US dollars, to ease the disastrous consequences of the lari’s continued race to record low depths.
The decision was made at a
lari currency crisis 2015
Georgian government to raise excise tax due to tanking lari
TBILISI, DFWatch–Amid growing discontent with the economic situation in the country, and a national currency which plunges to new depths every day, the government announces a hike in excise the tax rate for fuel, tobacco, imported autos and gambling.
“As you know,
Georgian lari hits all-time low
TBILISI, DFWatch–Georgian lari on Friday hit an all-time low at 2.5026 against the US dollar. The previous record was in January this year, when it was valued at 2.49 laris per USD.
Georgia’s National Bank has sold USD 180 million of its reserves
since August, but has not
Georgian lari tanking, on course for second record low this year
TBILISI, DFWatch–The Georgian lari is on course for a new historic low, after setting a record earlier this year at 2.4921 laris per US dollar. Today it is valued at 2.4899.
Prime Minister Giorgi Kvirikashvili explained the new drop in the value of the lari is as a result of growing imports.
Georgian lari reaches historic low of 2.49 against USD
TBILISI, DFWatch–The Georgian national currency on Monday reached a new historic low of 2.4923 lari for one US dollar. The price of dollars in exchange booths and banks was more than 2.53 laris.
On January 23, one US dollar was 2.4694. Since the lari was introduced
Georgia's National Bank intervenes for sixth time since start of lari crisis
TBILISI, DFWatch–Georgia’s National Bank intervened to bolster the flagging currency lari on Tuesday, causing its value to rise four tetris against the US dollar.
The Bank put USD 40 million up for auction, out of which USD 27 million has been sold so far.
The lari currently
Georgian PM says lari has bottomed out as it near historic low
TBILISI, DFWatch–Georgia’s national currency is four cents away from reaching its lowest point ever against the US dollar.
When the lari began to drop rapidly in November, 2014, one USD was about 1.75 laris. Today, the Georgian National Bank’s official exchange
PM urges calm as Georgian lari reaches lowest level since 1999
TBILISI, DFWatch–Georgia’s currency lari has reached its lowest level since 1999, but the government is optimistic and blames media and analysts of being incompetent and engaging in speculating.
The lari is now at 2.416 against the US dollar, near the all-time low
Georgia's PM blames private business for causing lari's instability
TBILISI, DFWatch–Georgia’s prime minister blames business leaders for causing the instability of the national currency lari by keeping their money in US dollars.
Irakli Garibashvili explained Wednesday during a visit to Batumi, a city on Black Sea coast,
Ivanishvili considered arresting the head of the National Bank
TBILISI, DFWatch–Former Prime Minister Bidzina Ivanishvili says he once planned to arrest Kadagidze due to ‘personal’ business, but changed his mind by request of representatives of the International Monetary Fund (IMF).
The revelation comes after weeks of criticism