Georgian Lari flag

Georgian Lari

ლარი

Currency Code

GEL

ISO 981

Symbol

GEL

Native: ₾

Decimal Digits

2

Rounding: 0

Countries

GE

Using this currency

Currency Units

Major Unit

Name: lari

Symbol: ₾

Minor Unit

Name: tetri

Symbol:

Value: 0.01

Banknotes

Frequently Used

5 ₾10 ₾20 ₾50 ₾100 ₾

Rarely Used

1 ₾2 ₾200 ₾

Coins

Frequently Used

1 tetri2 tetri5 tetri10 tetri20 tetri50 tetri1 ₾2 ₾

Plural Forms

English Plural

Georgian laris

Native Plural

ლარი

Overview

The Georgian Lari is the currency of Georgia, managed by the National Bank of Georgia. It was introduced after the country's independence and has been relatively stable compared to other post-Soviet currencies.

Economy

  • Georgia is a member of Council of Europe, OSCE, GUAM, Eastern Partnership.
  • Main industries include: Steel, Machine tools, Electrical appliances, Mining, Chemicals, Wood products, Wine.
  • Georgia is part of the World Trade Organization.
  • Imports are fuels, vehicles, machinery, grain, pharmaceuticals.
  • Major exports include vehicles, ferroalloys, fertilizers, nuts, scrap metal, copper, wine.
  • GDP: $28.0 billion (2023 est.).
  • GDP per capita: $7,582 (2023 est.).
  • Unemployment rate: 18.5% (2023 est.).
  • Inflation rate: 2.5% (2023 est.).
  • Main trading partners: Turkey, Russia, China, Azerbaijan, Germany, United States.
  • Trade agreements: EU-Georgia Association Agreement, Various bilateral agreements.

History

  • Previous currencies used: Georgian coupon (laris), Soviet ruble, Russian ruble.
  • The lari was introduced in 1995, replacing the Georgian coupon (laris). The name comes from an old Georgian word meaning 'property' or 'treasure'.
  • 1993: Georgian coupon introduced
  • 1995: Lari introduced, replacing coupon at 1,000,000:1
  • 2003: Rose Revolution and economic reforms
  • 2008: War with Russia and economic impact
  • 2014: Association Agreement with EU signed
  • 2020: COVID-19 pandemic impact
  • Exchange rate peg: Free floating with interventions.

General Information

  • ISO 4217 Code: GEL
  • Symbols: GEL/₾
  • Currency Subunits: 100 tetri
  • Central Bank: National Bank of Georgia
  • Monetary Policy: Inflation targeting with flexible exchange rate. Focus on price stability and supporting economic development.
  • Bills: 1 GEL, 2 GEL, 5 GEL, 10 GEL, 20 GEL, 50 GEL, 100 GEL, 200 GEL
  • Coins: 1 tetri, 2 tetri, 5 tetri, 10 tetri, 20 tetri, 50 tetri, 1 lari, 2 lari
  • USD Exchange Rate: Variable (approximately 2.7 GEL per USD)
  • Pegged To: None (Floating)
  • Capital: Tbilisi
  • Population: 3,968,738 (2023 est.)
  • Area: 69,700 km²
  • Languages: Georgian (official), Abkhazian (official in Abkhazia), Russian, Armenian, Azerbaijani
  • Time Zones: UTC+4 (Georgia Standard Time)
  • Government Type: Semi-presidential republic
  • Head of Government: President (head of state), Prime Minister (head of government)
  • Independence: April 9, 1991 (from Soviet Union)
  • Ethnic Groups: Georgian 86.8%, Azeri 6.3%, Armenian 4.5%, Other 2.3%
  • Religions: Orthodox Christian 83.4%, Muslim 10.7%, Armenian Apostolic 2.9%, Catholic 0.5%, Other 0.8%, None 1.2%, Unspecified 0.5%
  • Literacy Rate: 99.6% (2018 est.)
  • Transport: Tbilisi International Airport, East-West Highway, limited rail network, Black Sea ports
  • Communications: Good telecommunications, 69% internet penetration, widespread mobile coverage
  • Energy: Hydroelectric 80%, Natural gas 19%, Other 1%
  • Countries Using This Currency: Georgia
  • Data Sources: Central Bank: National Bank of Georgia (nbg.gov.ge), Economic Data: National Statistics Office of Georgia, World Bank, IMF, Trade Data: Revenue Service of Georgia, Demographic Data: National Statistics Office of Georgia, Geographic Data: National Environmental Agency, Historical Data: National Bank of Georgia archives
  • Last Updated: 2025