Which Currencies Are Worth Saving Money in Georgia, Besides the Euro and the US Dollar?

In Georgia, most people prefer to save their money in US dollars or euros, as these are the most widely used currencies in the international financial system. However, in recent years, their volatility, rising inflation, and global economic crises have led more people to question whether keeping all their savings in these two currencies is the best strategy.

The Swiss franc may be one of the most stable options for those seeking long-term security. Switzerland’s financial system is one of the most reliable in the world, and during economic crises, investors often turn to this currency. However, in Georgia, franc transactions are limited, making it less accessible. Buying and selling Swiss francs is not as common in local banks, and currency conversion might be an issue.

The British pound has always been a strong currency, backed by the economic stability of the United Kingdom. Despite the volatility caused by Brexit, the pound remains a relatively secure long-term asset. One of its main advantages is the higher interest rates on deposits compared to the US dollar and euro. However, due to its significant fluctuations, the value of savings in pounds can change rapidly in the short term.

The Chinese yuan has been gaining relevance in recent years, as China is now one of the leading global economic powers. The Chinese government is actively working to increase the yuan’s international status, making it an increasingly trusted currency among investors. In Georgia, demand for the yuan is still low, and it is not always easy to buy in banks. However, as trade relations with China continue to strengthen, its role may grow in the future.

The Turkish lira is more suitable for short-term use, particularly for those who have business ties with Turkey. However, the lira is one of the most unstable currencies, having suffered significant devaluation in recent years. Due to Turkey’s high inflation, saving money in lira carries considerable risk.

The Georgian lari is the most convenient currency for the local market, as there is no need for conversion, it offers higher interest rates on deposits, and it is directly tied to Georgia’s economic performance. However, the lari remains volatile, especially when affected by international events, which is why some people prefer to diversify their savings into other currencies.

When choosing a currency, it is essential to consider stability, liquidity, and inflation risks. The Swiss franc and British pound offer stability and long-term potential, while the Georgian lari is convenient for local transactions but remains susceptible to economic fluctuations. The best strategy is to diversify savings across multiple currencies to minimize dependence on any single one.