Lari

The lari is the official currency of Georgia. Its ISO code is GEL and its symbol is ₾. It is subdivided into 100 tetri. The National Bank of Georgia issues the currency and oversees monetary policy, regulation of financial institutions, and the issuance of banknotes and coins.

History and status: The lari was introduced in the mid-1990s as Georgia transitioned away from the Soviet ruble and transitional monetary arrangements following independence. Since its introduction, the lari has undergone reforms to stabilize prices and improve monetary policy. Georgia operates a floating exchange rate regime, with the National Bank publishing daily reference rates and pursuing price stability.

Banknotes and coins: Banknotes are issued in several denominations, and coins exist in tetri and lari units. The exact denominations have evolved over time through series updates and commemorative issues. The notes typically feature prominent Georgian historical figures, landmarks, and cultural themes, while coins include common lower-value units used in everyday transactions.

Usage and economy: The lari is the primary means of payment in Georgia for goods, services, salaries, and financial transactions. It is traded on international currency markets, and its value is influenced by Georgia’s economic performance, tourism, remittances, and regional economic dynamics. The National Bank of Georgia monitors inflation and financial stability as part of its mandate.

See also: Economy of Georgia; Currency; National Bank of Georgia.