GEL continues to be weak against USD

Updated: 11 March, 2016 seen 1,680

Exchange rates for 1 Georgian Lari on December 23.12.2013 has been set to 1.7168 according to National Bank of Georgia. In Tbilisi money exchange points, the value goes even higher to 1.7300 (SELL) and 1.7200 (BUY).

I have created a chart displaying exchange rates for GEL, for time period 01.01.2013 - 23.12.2013

US dollar is getting stronger and stronger, and in December it seems it's reaching it's apogee. I have this feeling that such kind fractions are artificially made (But I may be wrong - haven't thought much actually about this - probably I'm not filthy rich, to feel these changes on my skin)

Basically, if compared in 01.01. $1000 meant 1656,2 GEL then in 23.12 $1000 = 1716.8 GEL, making difference 60.6 GEL if compared by today (23.12) and start of the year (01.01). 60.2 GEL by exchange rate of 23.12 means $ 35.06

By total it means that USD has increased it value against GEL by 3.5% in 2013. Is it worth panic? No. Maybe just a little bit. As said, I'm forecasting that by Spring, GEL should be back, but again who the hell am I, to make such forecasts?

If you are doing your business in Georgia, switch your currencies to USD or EUR, that's what I can suggest to you, if you are worried, that GEL could crash.