TBC Bank’s financial director Giorgi Shagidze states that the current volatility of GEL is related to deprecation of RUB and TUR in neighboring countries.

“GEL is usually a free currency and definitely, developments inside our trade partner countries influence it. We got that last week Turkish Lira considerably depreciated” Shagidze said and added that currency of your trade partner guarantees result on GEL.

In response to the issue, how many other factors could influence GEL exchange rate, Shagidze said:
“We don’t even think any fundamental factors have caused this depreciation”


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