In short
Many new-build apartments in Georgia are priced in US dollars, but the lari is the legal tender. If you earn in euros, francs or pounds, two rates matter: your currency against the dollar when you buy, and the lari against your currency if rent comes in lari. The lari floats freely and the central bank intervenes only to a limited extent. How much this affects you depends on the currency you pay, let and sell in.
Four casesWe quote no exchange rates and no forecasts here. The official series are published by the National Bank of Georgia.
Georgia's economy in figuresRules
The legal position as of November 2026. It governs the currency in which prices are stated and loans are made.
The lari is Georgia's legal tender. Under the National Bank's larisation measures, prices for goods and services have had to be stated in lari since 1 July 2017. Whether, and on what conditions, your contract may state a price in dollars is for your lawyer to check against the current rules.
The National Bank considers a floating exchange rate the right regime for Georgia. It does not treat currency-market intervention as a main policy tool, and uses it to dampen short-term swings caused by capital flows. Its target is inflation of 3%, set for 2025 to 2027.
The National Bank limits foreign-currency loans to borrowers who are not hedged against exchange-rate swings. Since 1 July 2026 the limit has been GEL 1,000,000, up from GEL 750,000: up to that amount, such borrowers can only borrow in lari. The National Bank's regulation sets who counts as hedged and which exceptions apply, so ask your bank how it classifies you.
The National Bank of Georgia publishes the official lari rate against the dollar, euro and other currencies every day, with an archive. The European Central Bank publishes no reference rate for the lari. Past devaluations, for example in 2014/15 and 2020, show up in the National Bank's series.
Four cases
A currency fall hits instalments, rent and sale proceeds in different ways. What matters is the currency each payment moves in.
The cases show the mechanism, not figures or returns. Nobody can reliably predict where rates will go.
If the dollar rises against the euro, every outstanding instalment costs more euros.
Buy some or all of the dollars in advance and hold them in a dollar account.
Until the last instalment, the euro-dollar risk is yours, not the developer's.
If the lari falls, the same rent is worth less in euros.
Find out which currency your manager and the platforms pay you in.
Holiday lets are often settled in lari or dollars. What counts is what reaches your account.
A tenant who earns in lari and pays in dollars feels every fall in the lari.
As the tenant's burden grows, so does the risk that they leave or pay late.
The currency risk does not disappear. It moves to the tenant and can come back to you as vacancy.
In euros, the rate on the day you convert the proceeds is what counts.
Hold the proceeds in a foreign-currency account so you are not forced to convert on the day of sale.
A gain in dollars can shrink or vanish in euros. Equally, a strong dollar can lift the proceeds in euros.
How to send money to Georgia and where it gets converted.
Paying from abroadFrequently asked questions
Dollar prices, volatility, hedging, loans and accounts.
Many developers calculate and sell in US dollars, especially to foreign buyers. Since July 2017 the National Bank's lari rules have governed how prices are stated. A lawyer can tell you how they affect your contract.
The rate is set freely by the market and can move sharply in a short time. There were large devaluations in 2014/15 and 2020, for example. The National Bank of Georgia's official series shows the exact figures.
Partly. You can buy dollars early and hold them, pay instalments in the contract currency or use forward contracts if your bank offers them. You cannot remove the risk entirely while you earn and measure your wealth in euros, francs or pounds.
Possibly. Up to GEL 1,000,000, borrowers who are not hedged against exchange-rate swings can only borrow in lari. The National Bank's regulation decides whether you count as hedged or fall under an exception; ask the bank to confirm it. Whether it lends to you at all is up to the bank.
Yes. Georgian banks offer accounts in lari, dollars and euros, often side by side. That lets you pay instalments in the contract currency and keep rental income in the currency it arrives in.
Last reviewed on November 2, 2026. Sources: National Bank of Georgia (nbg.gov.ge): Monetary Policy, 3% inflation target; Optimal Exchange Rate Policy, National Bank of Georgia: Main Directions of Monetary and Exchange Rate Policies 2025 to 2027, National Bank of Georgia: Financial Stability Committee press release, May 2026 (limit on unhedged foreign-currency loans of GEL 1,000,000 from 1 July 2026), National Bank of Georgia: Larization Measures (pricing in lari from 1 July 2017), National Bank of Georgia: official exchange rates (nbg.gov.ge), European Central Bank (ecb.europa.eu): euro foreign exchange reference rates. This guide is not legal or tax advice.
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Every project page shows the price and payment plan in the contract currency.