After the collapse of the USSR, each newly formed independent state has its own currency. The Georgian currency is called GEL. Introduced in 1995.
Georgian currency: coins
In the monetary life of the country there are both banknotes and coins (tetri). First, let's talk about the latter. The population currently uses coins issued in 1993 and 2006. In 1993, coins of small denomination (1, 2, 5, 10, 20 and 50 tetri) were issued. All of them, except 50 tetri, are made of stainless steel. Fifty is smelted from a more expensive alloy. In 2006, the Georgian National Bank updated the coin in 50 tetri and also issued new coins - 1 and 2 lari.
Like any other country, Georgia issues commemorative and jubilee coins. They are made of precious metals. Over the years of independence, coins with a face value of 1 to 1000 lari made of gold and silver have come into use.
Banknotes
The face value of banknotes is from 1 to 200. Currently, according to statistics, the population uses paper money less often than metal money. Two series of banknotes are in circulation (1995-2006 and 2016). In the first series, all the necessary denominations were released. Note that paper bills have a different size. For example, denominations of 1, 2, 5 LR were released with a size of 115 by 61 millimeters. A bill in 10 lari is slightly larger - 125X63 mm. The length of the bill in 20 units is 131 mm and the width is 65 mm. Banknote sizes of 50 units are 4 and 1 mm larger, respectively. Denominations of 100 and 200 LR are also more than the above by 3-4 mm, respectively.
In 2016, the Georgian currency lari slightly updated its appearance. The National Bank issued denominations of 20, 50 and 100. The updated options have several advantages compared to the previous version:
- more degrees of protection;
- more modern design;
- worn out bills are withdrawn from circulation.
Lari is a strong currency
For a long time, the level of economic development of Georgia was very weak. Economists mark the beginning of a qualitative breakthrough in terms of the country's development and economic recovery, in particular, with the presidency of Mikheil Saakashvili. The Georgian currency has significantly strengthened its position in relation to other currencies. What is the rate of lari to the dollar? One dollar is 2.14 GEL. We will also tell about the rates to other monetary units. So, for 1000 Russian rubles they give 32 lari, for 1 euro - 2.42. For 3.11 GEL you can buy 1 British pound.
Currency stability is one of the signs of the stability of the state economy. Over the past few years, the Georgian currency has not experienced serious exchange rate fluctuations, so we can make a forecast that it will be stable further.