Lari is the currency of Georgia

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

The monetary unit of Georgia is called the lari (introduced into circulation in 1995), which, in turn, is subdivided into one hundred Tetri. International currency code GEL.

A Brief History

The modern currency of Georgia became official in the country during the presidency of E. Shevardnadze, namely since 1995. The symbol of the national currency was introduced on 2014-08-07. The letter of the Georgian alphabet ლ (l) served as the basis for the design of the symbol.

Both paper lari banknotes and metal coins are in circulation throughout the country. Below in the article bills and coins will be considered separately.

Coins

In Georgia, the main monetary unit lari is used most often in the form of paper notes, however, there are coins in denominations of one and two lari. Most of the metal coins are still less in value than the lari. There are coins in circulation in one tetri, two, five, ten, twenty and fifty tetri.

All Tetri pattern coins were first minted and put into circulation in 1995. They are still used for payment. Coins for circulation in Georgia are minted at the mint in Paris.

Coins from one to twentytetris are made of stainless steel, and 50 tetris are made of an alloy of copper, nickel and aluminum. There are also commemorative coins in Georgia, which are issued by the National Bank. They are made both from precious metals (gold, silver) and from non-precious ones, which include cupronickel and nickel silver.

Banknotes

The monetary unit of Georgia in the form of paper notes began to be used simultaneously with coins. There are two series of Georgian lari: old and new. The old version was produced in 1995 to 2006 and is in circulation to this day. On the banknotes of this series, the denomination is written both in Georgian and in English. Banknotes are in denominations of one, two, five, ten, twenty, fifty, one hundred and two hundred lari. Banknotes worth 500 lari were also issued in a limited edition.

In 2016, a series of banknotes with a new design was released. The appearance of the denominations of twenty, fifty and one hundred lari has been changed.

Monetary unit of Georgia. Exchange rate against the ruble and other currencies

The Georgian currency is much more expensive than the Russian ruble on the international currency market. Thus, the monetary unit of Georgia against the ruble is estimated at approximately 23 and a half rubles, therefore, for one ruble you will receive about 0.04 lari.

As for other currencies, for one euro they give approximately 2.7 lari. The figure, of course, is approximate, since currency quotes are constantly changing due to the cyclicality and volatility of the foreign exchange market. For one American dollar, about 2.5 lari is given, respectively, onelari is estimated at approximately $0.4.

Georgian currency is not very popular on the international market. This is due to the fact that Georgia does not have a strong economy, quite a few international trade transactions pass through it, and although tourism is developed, the country is not on the list of leaders in this industry.

Exchange transactions. Conclusion

A tourist who wants to visit this Caucasian country needs to first find out everything related to the financial side. A Russian citizen traveling to Georgia has nothing to worry about, since in the republic they will easily exchange Russian rubles for lari for you. This can be done almost anywhere: at the airport, hotel, bank or exchange office.

Georgian companies engaged in currency exchange and other financial transactions are happy to work with the currency of the Russian Federation. There are quite a lot of visitors from Russia in the country. In addition, many Georgians study and work in Russia, and send money transfers to their homeland, so the flow of Russian money to Georgia is quite high. But as for the exchange of Russian rubles for lari in Russia itself, then it will be much more problematic here, since it is almost impossible to find a place where such an exchange operation can be carried out. They work with the Georgian currency only in the border Kazakh cities, and even then not everywhere.

In addition to the Russian currency, in Georgia there are no difficulties with the exchange of dollars and euros, but other banknotes can be quite problematic to exchange. The country also works withArmenian currency, Turkish lira, British pounds and some other currencies.

Georgia is a fascinating country with beautiful mountainous nature and centuries-old history, so many people will be interested in visiting it. Russian citizens are a little more fortunate than residents of some other countries, because there will be no difficulties with exchanging money. Thanks to this, a visiting person does not have a number of problems associated with this.

Going to any country, you need to carefully consider all your actions in order to exclude the possibility of any difficulties. Currency exchange is one of the most important issues that you should pay attention to, because no one wants to be in a foreign country without money, or rather with money that is not used on the territory of this state.