Georgian Lari began depreciating towards US Dollars in 2014. By then, the cost of 1 US Dollar was 1.7 Lari. In the same period, currencies of other countries have also weakened towards the US Dollar. In the last 5 years, this was the case, especially for Turkish Lira. In 2018 alone, Turkish Lira has depreciated with more than 40%. With this indicator, Turkish Lira has become one of the weakest currencies towards US Dollars.
Russian Ruble has lost 16% of its own value in the last year. Since 2014 it depreciated towards Dollar with more than 45%.
Last year, Kazakhstani Tenge depreciated with 11%, which in comparison to other world currencies, is one of the highest indicators. Through the last couple of years, Tenge has lost more than 52% of its value towards the US Dollar.
Regarding the region currencies, in the 2014-2018 period, the ‘strongest’ towards the US Dollar appeared to be Armenian Dram, which in total, has depreciated with only 16%.
Since August 30, 2014, up until January 30, 2019, the region currencies have depreciated towards US Dollar as follows:
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Armenian Dram – 16.4%
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Moldovan Leu – 18.7%
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Georgian Lari – 34.7%
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Russian Ruble – 45.3%
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Belarusian Ruble – 52%
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Kazakhstani Tenge – 52.1%
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Azerbaijani Manat – 53.9%
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Ukrainian Hryvnia – 55.5%
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Turkish Lira – 59.2%
