Photo: David Mdzinarishvili / Reuters
The national Bank of Georgia has set the official exchange rate for July 10 at the level of 2,9096 lari per dollar, according to the website of the regulator.
Thus, the Georgian currency has set a new record. According to the July 9, one dollar’s worth of 2.83 gel.
Prior to this, another historic low was recorded on June 26. Then the Georgian currency has dropped to 2.84 lari per dollar.
The depreciation of gel is observed against the backdrop of escalating political conflict with Russia and Moscow imposed a ban on air links with Georgia. Georgian regulator has refused to support the currency.
At the end of June the national Bank of Georgia said that before the end of 2019, the economy will lose up to 200-300 million dollars due to the reduction of tourist flow from Russia.
Video, photo All from Russia.