GEL Rose against USD

Georgian Lari rose against the US dollar and exchange rate amounted GEL 1,98 to USD.

This is the highest level of GEL for last three years.

Experts say that the trend is caused by mobilization of revenues in state budget. Finance Minister Zurab Noghaideli said on March 2 that budgetary targets in February were met.

He said that the budgetary revenues enjoyed with surplus in February caused with better revenue collection procedures and transfer of taxes to the central budget from the Adjara Autonomous Republic.