In the recent years, the weakest of the currencies of the region against USD has been Turkish Lira. Within the period from 1st August 2018 until 24th May 2018, Turkish Lira has lost against USD approximately 55%. According to the information provided by G&T, which leans upon Bloomberg’s rates, Georgia Lari has depreciated against USD by 30%.
From 2014 to 2018, rates of various currencies against USD have changed as followes:
Euro – depreciated by more than 10%
- Armenian Dram – depreciated by more than 17%
- Moldovan Leu – depreciated by more than 40%
- Georgian Lari – depreciated by 30%
- Russian Ruble – depreciated by more than 40%
- Kazakh Tenge – depreciated by 42%
- Belarus Ruble – depreciated by 42%
- Ukrainian Grivna – depreciated by more than 50%
- Azerbaijani Manat – depreciated by more than 50%
- Turkish Lira – depreciated by more than 53%
The highest inflation rate in the region was registered in Ukraine, where the consumer price change by the end of 2017 made 13%. Ukraine is followed by Turkey with inflation rate up to 12%. In Kazakhstan, inflation rate was up to 7% and in Azerbaijan – up to 8%.