Georgian currency: denominations of banknotes and exchange rate against the leading currencies of the world

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

After the collapse of the USSR, each newly formed independent state has its own currency. The Georgian currency is called lari. Introduced in 1995.

Georgian currency: coins

In the country's monetary use there are both banknotes and coins (tetri). Let's talk about the latter first. The population currently uses coins issued in 1993 and 2006. In 1993, coins of small denominations (1, 2, 5, 10, 20 and 50 tetri) were issued. All of them, except for 50 tetri, are made of stainless steel. Fifty kopecks are smelted from a more expensive alloy. In 2006, the Georgian National Bank updated the 50 tetri coin and also issued new coins - 1 and 2 lari.

Like any other country, Georgia issues commemorative and commemorative coins. They are made from precious metals. During the years of independence, coins in denominations from 1 to 1000 lari made of gold and silver came into use.

Banknotes

Denomination of banknotes - from 1 to 200. At the moment, according to statistics, the population uses paper money less often than metal money. There are two series of banknotes in circulation (1995-2006 and 2016). In the first series, all the required denominations were issued. Note that paper bills have different sizes. For example, denominations of 1, 2, 5 LRreleased in size 115 by 61 millimeters. The denomination of 10 lari is slightly larger - 125x63 mm. The 20 unit banknote is 131 mm long and 65 mm wide. The size of a banknote of 50 units is larger by 4 and 1 mm, respectively. The denominations of 100 and 200 LR are also larger than those listed above by 3-4 millimeters, respectively.

In 2016, the Georgian lari currency slightly updated its appearance. The National Bank issued denominations of 20, 50 and 100. The updated versions have several advantages over the previous version:

- more protection levels;

- more modern design;

- worn-out banknotes are withdrawn from circulation.

Lari is a strong currency

For a long time the level of economic development of Georgia was very weak. Economists note the beginning of a qualitative breakthrough in terms of the country's development and economic recovery, in particular, with the presidency of Mikhail Saakashvili. The Georgian currency has significantly strengthened its position against other currencies. What is the exchange rate of the lari against the dollar? One dollar is 2.14 lari. Let's talk about rates to other monetary units. So, for 1000 Russian rubles they give 32 lari, for 1 euro - 2.42. For 3.11 lari you can buy 1 English pound.

The stability of the currency is one of the signs of the stability of the state's economy. Over the past few years, the Georgian currency has not experienced major exchange rate fluctuations, so it can be predicted that it will continue to be stable.