2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
National Georgian money is called lari. International bank code - GEL. One lari is equal to 100 tetri. The currency is presented in banknotes and coins.
History
Until the collapse of the Soviet Union, the main currency in Georgia was the ruble. But in 1992, the Russian government suspended the sending of banknotes to this country. And this forced Georgia to switch to coupons (temporary money) for a certain period. At the same time, the development of a national currency began. It was called "Lari", which means "silver" in Georgian. The national currency was put into circulation on October 2, 1995, when Eduard Shevardnadze was in the presidency.
Coin design
Georgian money in the form of coins is minted from stainless steel. With a face value of 50 tetri are made of brass or copper-nickel alloy. Coins with a denomination of one unit are also minted from it. And money with a face value of two and ten is made of bimetal.
The sun, the date of manufacture and the inscription "Republic of Georgia" are depicted on the coins. It is engraved in two languages - national and English. The first coins had six denominations - from 1 to 50 tetri. The initial series was minted in 1993 at the Parismint.
Currently in use are tetri, which were released in 1999 and 2006. The coins have six denominations - from 1 to 50 and denominations of 1 and 2 lari. Collectible metal money of two types, differing in appearance, was issued in a separate series, in denominations of ten lari. On the obverse, the symbols of the country are minted - a bunch of grapes, a golden lion, a peacock and St. Mamai. The Georgian coat of arms is depicted on the reverse side of the coins.
Banknote design
Georgian paper money has different colors. Banknotes issued in denominations:
- 1 lari – blue-green;
- 2 - pink gray;
- 5 - brown-blue;
- 10 - blue-violet;
- 20 - orange brown;
- 50 - green-blue;
- 100 - grey-green;
- 200 - yellow-blue.
One lari banknotes feature a portrait of Georgian artist N. Pirosmanishvili. Behind it is a natural landscape. On the reverse side is a panorama of Tbilisi with a deer in the center. The five lari banknote features a portrait of academician I. Javakhishvili, St. George and the tree of life. On the reverse side of the bill - Tbilisi University, a golden lion and a map of Georgia.
Georgian poet A. Tsereteli is depicted on the banknote of 10 lari on the front side. On the reverse side of the bill there is a fragment of a painting framed by a vine.
On the front side of the one hundred lari banknote there is an image of national pride - the poet Sh. Rustaveli. And on the back - a fragment of the biblicalcompositions in bas-relief.
Georgian money worth 200 lari has on the front side the image of Sukhumi (now this city is located on the territory of Abkhazia) and inscriptions in three languages: Georgian, English and Abkhaz. This design is a symbol of the integrity of the country.
From the very beginning it was planned to introduce a 500 lari banknote. And a small print run of them was put into circulation. But the banknotes were withdrawn from circulation by the exchange method and acquired the status of unissued.
Renewal of banknotes takes place without major external changes. And there are still both new and old series of banknotes in circulation. They are exchanged with a high degree of wear.
GEL against ruble and other currencies
Exchange rates in Georgia are determined by the National Bank, taking into account the quotes and economic indicators of the country. You can exchange Georgian currency for rubles or buy dollars, euros, etc. at any point. After the appearance of national monetary units, the exchange rate of the lari to the ruble was 1:1. An interesting fact: at that time, the Georgian currency had denominations of 150 and 250 thousand lari. But over time, they disappeared from everyday life. According to last year's data, the exchange rate of the lari against the dollar was 1:0, 41, and against the Russian ruble - 1:26, 84.
Currency exchange
In Georgia, currency exchange takes place without much hassle. There are many exchange offices throughout the country. Sometimes Georgian lari money can be exchanged for another currency without even having a passport. But it will definitely be required at the bank. In Georgia, exchange offices are located at railway stations, large entertainment andshopping centers, in all places where there is a mass congestion of people.
The course is almost the same everywhere. If there is a difference, it is small - one or two lari per hundred US dollars. The commission for the exchange is not taken in almost all points. But this point still needs to be clarified before concluding a deal in order to know for sure.
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