Currency exchange units turnover reaches 6.4 bln GEL in 2021

The total turnover of currency exchange units totalled 6.4 billion GEL ($2.046bln/€1.860bln) in Georgia last year, of which 51.8 percent was in dollars and 14.7 percent in euros, the National Statistics Office of Georgia (Geostat) announced on Tuesday. 

The Office’s latest update on trends also said 33.5 percent of the turnover had been left to other currencies, and added the figures did not include commercial banks, microfinance institutions and local units.

A total of 469 currency exchange units operated in the country in 2021, a majority of which were concentrated in Georgia's capital Tbilisi and totalled 46.3 percent, followed by the Black Sea region of Adjara with 25.8 percent and Kvemo Kartli region with 8.1 percent. 

Image: Geostat

In the reported period, 1,664,000 people were served by the currency exchange units in Georgia, of which 13,000 were legal entities and 1,651,000 individuals, with Georgian nationals amounting to 85.9 percent of their clients and foreign citizens 14.1 percent. 

Overall, $543 million and €135.3 million was purchased by currency exchange units last year, while they sold $520.5 million and €132 million in the same time period.