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Daily News

February 5, 2024

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economics

    “TBC CAPITAL”: LARI EXCHANGE RATE AGAINST CURRENCIES OF MAJOR TRADE PARTNERS IS STRENGTHENED COMPARED TO LONG-TERM TREND

    As of February 2, average exchange rate of lari against currencies of Georgia’s all major trade and economic partners is insignificantly, but still strengthened compared to the long-term trend, TBC Capital indicated in a review published today.

    In December, although the peak of migration, as it seems, has been already passed, total net foreign exchange inflow nevertheless has increased, which was reflected in the lari exchange rate, TBC Capital noted.


    BY END OF 2023, NUMBER OF PAYMENT CARDS, ISSUED BY GEORGIAN BANKS, INCREASED BY 13% Y-O-Y

    As of December 31, 2023, the number of payment cards, issued by Georgian banks, amounted to 8.8 million, National Bank of Georgia (NBG) reported. If compared to the same period of 2022, the number has increased by 13%.


    BY END OF 2023, NUMBER OF DEBIT CARDS IN GEORGIA INCREASED BY 14% Y-O-Y

    As of December 31, 2023, there were 8.26 million debit cards in circulation in Georgia, National Bank of Georgia reported. If compared to the same period of 2022, the number has increased by 14%.


    BY END OF 2023, NUMBER OF CREDIT CARDS IN GEORGIA DECREASED BY 3% Y-O-Y

    As of December 31, 2023, there were 552,848 credit cards in circulation in Georgia, National Bank of Georgia reported. If compared to the same period of 2022, the number has decreased by 3%.


    IN 4Q OF 2023, VOLUME OF TRANSACTIONS WITHIN GEORGIA WITH PAYMENT CARDS OF RESIDENT ISSUERS INCREASED BY 17.7% Y-O-Y

    In the 4th quarter of 2023, volume of transactions, made in Georgia with payment cards of resident issuers, amounted to 18.5 billion lari, National Bank of Georgia (NBG) reported. If compared to the same period of 2022, the volume has increased by 17.7%.


    IN 4Q OF 2023, VOLUME OF TRANSACTIONS OUTSIDE GEORGIA WITH PAYMENT CARDS OF RESIDENT ISSUERS INCREASED BY 20% Y-O-Y

    In the 4th quarter of 2023, volume of transactions, made outside Georgia with payment cards of Georgian resident issuers, amounted to 2.2 billion lari, National Bank of Georgia (NBG) reported. If compared to the same period of 2022, the volume has increased by 20%.


    IN 4Q OF 2023, VOLUME OF TRANSACTIONS IN GEORGIA WITH PAYMENT CARDS OF NON-RESIDENT BANKS INCREASED BY 7% Y-O-Y

    In the 4th quarter of 2023, volume of transactions, made in Georgia with payment cards of non-resident banks, amounted to 859.86 million lari, National Bank of Georgia reported. If compared to the same period of 2022, the volume has increased by 7%.


    BY END OF 2023, VOLUME OF E-COMMERCE TRANSACTIONS WITH GEORGIAN PAYMENT CARDS INCREASED BY 48.8% Y-O-Y

    In the 4th quarter of 2023, 56.9 million e-commerce transactions totaling to 4 billion lari were conducted with Georgian payment cards, National Bank of Georgia reported.

    If compared to the corresponding period of 2022, the number of transactions has increased by 50%, while the volume – by 48.8%.


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Exchange Rates (NBG)
  02/23/24 + / -
  USD   2.6530   0.0025
  EUR   2.8708   0.0066
  RUR   2.7962   0.0457
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