March 23, 2015 Kh-Index | Time to buy khachapuri, particularly if you earn in dollars!
23 March 2015

The average cost of cooking one standard Imeretian Khachapuri in February 2015 was 3.29 GEL, which is 3.4% lower month-on-month (m/m, that is compared to the previous month), and 4.8% lower year-on-year (y/y, that is compared to the same month of last year).

In February, GEL continued to depreciate against USD (down 22 tetri m/m, and 41 tetri y/y). At 2.17GEL/USD, Georgian products have become quite a bit more competitive in the world markets (although not in the markets of our main trading partners, since the national currencies of all our neighbors: Russia, Ukraine, Turkey, Azerbaijan, and Armenia, have also lost in value against USD). As a result, while not (yet) traded in global markets, Georgian khachapuri has become much more affordable for anybody earning in foreign currency. For those earning in USD, khachapuri has become a real bargain: when expressed in USD, ISET's Khachapuri Index lost 13.4% relative to January (m/m), and 23.2% in annual terms (y/y).

Eat khachapuri today!