December 1, 2016 / 11:35 AM / in a year

Georgia expects lari currency to stop devaluating shortly

TBILISI, Dec 1 (Reuters) - Georgia’s central bank said on Thursday it expected the lari currency to stop devaluating shortly.

The lari hit an all-time low of 2.5352 to the dollar on Thursday, down from 2.5311 on Wednesday.

“We expect that devaluation will stop shortly,” the bank said in a statement.

The central bank said the lari devaluation was mainly driven by the U.S. dollar’s strengthening and strong domestic demand for the foreign currency. (Reporting by Margarita Antidze; editing by Maria Kiselyova)

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