One of the 10 “strongest currencies” in the world is the Georgian Lari

According to local media outlet bm.ge (https://bm.ge/en/article/lari-gains-against-usd-eur/133282/) , the Lari, the national currency of Georgia, is one of the ten “strongest currencies” in the world. Its exchange rate increased by about 7% versus the US dollar, representing a +19.5% growth in a year.

 

Only eight currencies performed better than the Georgian Lari, according to the Bloomberg story, which places it ninth overall. According to the bm.ge, several economic, political and social reasons, including “one of the most important” foreign exchange inflows. Have contributed to the strengthening of the national currency. The Georgian government has made steps to preserve stability and boost the Lari’s value. The National Bank of Georgia has put policies into place to keep inflation under control and ensure currency stability.

 

The Lari exchange rate was “positively impacted” by a 25% increase in exports last year, and trade turnover, including foreign direct investments, had “considerable influence”, with the biggest amount at $2 billion. The bm.ge said that Georgia’s economic expansion, which saw the country’s real gross domestic product rise by 7.3% in March and its growth rate reach 7.2 percent in the first quarter of 2023, had an impact on the strengthening of the national currency. Tourist flow, increased by 182% compared to the previous year, as well as keeping the refinancing rate at high level with the exchange rate of Lari, was also highlighted as “positive”.

 

 

 

Lari Gains against USD, EUR | BM.GE

https://bm.ge

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