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To the editor

Tuesday, March 25

To the Editor,

Maybe itís time the National Bank of Georgia came clean on its valuation of the Lari (GEL). The GEL was always tied to the US dollar; now it appears to be tied to the Euro. In December, the GBP was 3.3 to the GEL, now itís 2.90. However, the pound has increased against the dollaróand yes, the pound has devalued against the Euro.

So whose rate are we tied to? Or are the banks manipulating the currency to suit what they want? Itís time for open debate on the rate of exchange.


Billy Hirst