National Currency of Georgia

26/01/2020
by Nancy Kikvadze

National Currency of Georgia is the Georgian Lari or GEL that consist of 100 Tetris. It has been the national currency of Georgia since 1995.

On October 2, 1995 the Lari – the new Georgian national currency – entered circulation and was declared the only legal means of payment in the whole territory of Georgia. Banknotes with the face value 1, 2, 5, 10, 20, 50, and 100 Lari were issued into circulation.

"Lari", the name chosen for the basic monetary unit of the Georgian national currency, is an old Georgian word denoting a hoard or property. And "tetri", the name of the 1/100 part of a lari, is an old Georgian monetary term used since the 13th century. In 1999, all denominations of the 1995 series were modified with new security features.

In 2002, the banknotes of the 1999 series with denominations of 1, 2, 5, 10, 20 lari (and in 2004, the 50 and 100 lari denominations) were once again modified and upgraded.

There are 5, 10, 20, 50, 100 and 200 Lari banknotes. Coins are used in 1, 2, 5, 10, 20, 50 Tetris. There are also 1 and 2 Lari coins.

All payments can be made either in cash or by credit cards. Almost all the restaurants, shops and hotels accept credit cards. Georgian Lari or GEL can easily be converted to all the leading currencies of the world. Georgia has been a member of the International Monetary Fund since 1997.

Visitors of the country can purchase local currency in banks and currency exchange points which are plentiful around the country. For more information about exchange rates visit www.nbg.gov.ge

Georgian Lari has its own sign, which was approved by the board of National Bank of Georgia on July, 7, 2014.

The concept of Lari sign is based on graphic letter “Las” (L) of the Georgian “Mkhedruli” alphabet. Adding two vertical parallel lines to the arc of a “simplified” one-arched “Lasi”- results in a stylized image of a “full” three-arched letter “Las”.

List of Active Commercial Banks

1

JSC "TBC Bank"

2

JSC "Bank of Georgia"

3

JSC "Liberty Bank"

4

JSC "Basisbank"

5

JSC "VTB Bank – (Georgia)"

6

JSC "Cartu Bank"

7

JSC "ProCredit Bank"

8

JSC "Silk Road Bank"

9

JSC "Ziraat Bank Georgia"

10

JSC "Isbank Georgia"

11

JSC "TeraBank"

12

JSC "Halyk Bank Georgia"

13

JSC "PASHA Bank Georgia"

14

JSC “Finca Bank Georgia”

15

JSC “Credo Bank”



















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