As soon as the political situation started to normalize, the exchange rate started to normalize as well - says the Minister of Economy of Georgia.
According to Natia Turnava, the domestic political situation was one of the reasons causing depreciation of GEL. As she says, two factors influence the exchange rate - Fundamental macroeconomic parameters and expectations created by political instability.
"As soon as the political situation started to normalize, the exchange rate started to normalize as well . ..Negative expectations were created by political instability. We now see this impact clearly, "said Natia Turvanava, the Economy Minister.
The national currency has strengthened against USD. The National Bank of Georgia has fixed a new exchange rate today. Official price of USD is 2.8155 GEL.