Lari breaks new records every day. According to the National Bank of Georgia, as of March 20, one dollar stood at GEL 2.5763 that is the rate set on August 30, 2018.

Financier Gocha Tutberidze believes that the lari will keep gaining its value until key trends boosting its strengthening exist.

“It is difficult to predict   the exchange rate  fluctuations, although several factors can be highlighted. One of them is the state of the current balance and ways of its replenish ment such as export-import operations, trade, money transfers, inflow of foreign capital, etc. At this stage,   ex ports grew much stronger than imports that positive ly effect s the exchange rate, if th e trend continues, the rate will further strengthen,” he notes .

Tutberidze mentions the Russian migration, that , in his opinion, is one-time and will not last long but currently Russians are transferring capital from Russia and investing it in real estate in Georgia, but someday this process will be completed as well as a large flow of money from Russia.

He also talks about psychological factors that can’t be predicted.

“Fundamental factors have a positive effect on the exchange rate, if current trends continue, the lari will continue gaining its value in the medium term. The central bank’s monetary policy is also important as it is the main way to regulate the exchange rate. The refinancing rate is still high which also boosts the national currency’s strengthening, but in the current situation, it won’t last long,” Gocha Tutberidze stresses.