Russian Magazine Recognizes Georgian Lari and Polish Zloty as Best Currencies for Making Savings
23 May, 2005
The high-rated Russian publication ‘Dengy’ published an article titled “Polish-Georgian Alternative” where the author advises the population to make their savings in the Georgian Lari and Polish Zloty, judging by the severe fluctuations of the world currencies. “Polish Zloty and Georgian Lari appreciated by 13% against the Russian Ruble. Possibly, in both cases, the economy was affected by politics (Rose Revolution in Georgia and EU Accession for Poland)”, says the article. Per Giorgi Tabatadze, Chief Dealer of the NBG, the stability of the lari was conditioned by the increase of the public confidence in the authorities, improvement of the investment climate and preparation of the stable background for the economic growth. In fact, the Georgian Lari and Polish Zloty show high stability even against the world’s leading currencies. The analysis of the developments in the international foreign exchange markets shows that the rates of USD and EUR greatly depend on the development and geopolitical risks of these economic zones. Accordingly, making of savings for the Georgian population will be much safer in the national currency. Today, the share of the foreign currency deposits in commercial banks is 77% and that of national currency deposits – 23%. Per expert analysis, the national currency deposits show the growing trend over the last few months.