The lari (Georgian: ლარი; ISO 4217:GEL) is the currency of Georgia. It is divided into 100 tetri. The name lari is an old Georgian word denoting a hoard, property, while tetri is an old Georgian monetary term used from the thirteenth century.
For earlier Georgian currency, see maneti and abazi.
Georgia replaced the Russian ruble on 5 April 1993 with kupon lari at par. This currency consisted only of banknotes, had no subdivisions and suffered fro...
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The lari (Georgian: ლარი; ISO 4217:GEL) is the currency of Georgia. It is divided into 100 tetri. The name lari is an old Georgian word denoting a hoard, property, while tetri is an old Georgian monetary term used from the thirteenth century.
For earlier Georgian currency, see maneti and abazi.
Georgia replaced the Russian ruble on 5 April 1993 with kupon lari at par. This currency consisted only of banknotes, had no subdivisions and suffered from hyperinflation. Notes were issued in denominations between 1 and 1 million lari, including the somewhat unusual 3, 3000, 30,000 and 150,000 lari.
On October 2, 1995, the government of Eduard Shevardnadze replaced the provisional coupon currency with the lari, at a rate of one million to one. It has remained fairly stable since then.
Coins are issued in denominations of 1 tetri, 2, 5, 10, 20 and 50 tetri, 1 lari and 2 lari.
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