Georgian lari
ქართული ლარი (Georgian)
ISO 4217
CodeGEL (numeric: 981)
Subunit0.01
Unit
Unitlari
PluralThe language(s) of this currency do(es) not have a morphological plural distinction.
Symbol₾, ლ,‎ (GEL[1])
Denominations
Subunit
 1⁄100tetri
Banknotes
 Freq. used₾5, ₾10, ₾20, ₾50, ₾100
 Rarely used₾1, ₾2, ₾200
Coins5, 10, 20, 50 tetri, ₾1, ₾2
Demographics
Date of introduction1995
ReplacedGeorgian coupon (კუპონი)
User(s) Georgia
Issuance
Central bankNational Bank of Georgia
 Websitewww.nbg.gov.ge
PrinterPolish Security Printing Works
 Websitewww.pwpw.pl
Valuation
Inflation1.9% (November 2018)
 SourceNational Bank of Georgia

The lari (Georgian: ლარი; ISO 4217: GEL) is the currency of Georgia. It is divided into 100 tetri (თეთრი). The name lari is an old Georgian word denoting a hoard, property, while tetri is an old Georgian monetary term (meaning 'white') used in ancient Colchis from the 6th century BC. Earlier Georgian currencies include the maneti (Georgian: მანეთი), abazi (აბაზი), and kuponi (კუპონი).

Kuponi

Georgia replaced the Soviet ruble on 5 April 1993, with the kuponi (Georgian: კუპონი) 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 kuponi, including the somewhat unusual 3, 3000, 30,000 and 150,000 kuponi.

Lari

On 2 October 1995,[2] 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.

Lari sign

The Georgian Lari currency sign, introduced on 8 July 2014.

On 8 July 2014, Giorgi Kadagidze, Governor of the National Bank of Georgia (NBG), introduced the winning proposal for the sign of the national currency to the public and its author. The Georgian lari had its own sign.[3]

The NBG announced the Lari sign competition in December 2013. The temporary commission consisted of representatives of NBG, the Budget and Finance Committee of the Parliament of Georgia, the State Council of Heraldry, the Ministry of Culture and Monument Protection of Georgia and the Ministry of Education and Science of Georgia.[4]

In choosing the winning sign, the commission gave priority to the samples based on the Georgian Mkhedruli character and made a point of the following criteria: conception, design, accordance with Georgian alphabet, existence of elements marking the currency, ease of construction, and observance of requests and recommendations determined by competition rules.[4]

The Lari sign is based on an arched letter ლ (Lasi) of the Georgian script. It is common international practice for a currency sign to consist of a letter, crossed by one or two parallel lines. Two parallel lines crossing the letter Lasi are the basic components of the Lari sign. The so-called “leg” of the letter, represented by a horizontal line, is a necessary attribute of the sign, adding monumental stability to the upper dynamic arc. The form of the letter is transformed in order to simplify its perception and implementation as a Lari sign.[4]

The author of the winning sign is a professional artist-ceramist, Malkhaz Shvelidze.[4]

On 18 July 2014, Giorgi Melashvili, executive director of the National Bank of Georgia, sent a request letter to the Unicode Consortium to register the symbol in the Currency Symbols block of the Unicode Standard as

₾ U+20BE GEORGIAN LARI SIGN[5]

On 17 June 2015, the Unicode Consortium released[6] Unicode V8.0, which includes the Lari sign as

U+20BE ₾ LARI SIGN[7]

Coins

Coins are issued in denominations of 5, 10, 20 and 50 tetri, as well as 1 and 2 lari.

The National Bank of Georgia announced on 5 October 2018 that it would discontinue circulation of 1 and 2 Tetri coins as of 1 January 2021, and that these coins would lose their legal tender status. 1 and 2 Tetri coins could be exchanged at the National Bank of Georgia and commercial banks in Georgia within one year from 1 January 2021, and can only be exchanged at the National Bank of Georgia from 1 January 2022.[8][9] According to the new regulations on cash payments introduced by the National Bank of Georgia on 1 January 2019, 1 and 2 tetri are rounded to 0, and 3, 4, 6 and 7 tetri are rounded to 5.[10]

The National Bank of Georgia announced on 12 November 2015 that, effective 1 January 2018, the old 50 Tetri coin, issued since 1995, would be withdrawn from circulation and the coins would lose their legal tender status. The old 50 Tetri coin were exchangeable at the National Bank of Georgia and commercial banks of Georgia within one year from 1 January 2018, and from 1 January 2019 only at the National Bank of Georgia.[11][12][13]

Second Series (2006)
ImageValueTechnical parametersDescription
ObverseReverseDiameterMassCompositionEdgeObverseReverse
50 Tetri 24 mm 6.52 g Stainless Steel Smooth The denomination numeral “50”, and the legend თეთრი (tetri). The coat of arms of Georgia, surrounded with a symbolic image of Sun beams, the legends საქართველო, and the date of issue “2006” under the coat of arms.
1 Lari 26.2 mm 7.85 g Copper-nickel Reeded with incuse lettering: the country name in Georgian and English (საქართველო and "Georgia") Half-milled. Denomination numeral “1” and legend ლარი (lari). Half-milled. The coat of arms of Georgia, the legend საქართველო on the upper left side, and the date of issue “2006” on the lower right side.
2 Lari 27 mm 8 g Bi-Metallic Copper-aluminium-nickel center in Copper-nickel ring Reeded with incuse lettering: the country name in Georgian and English (საქართველო and "Georgia") Denomination numeral “2” and legend ლარი (lari). The silver-color milled surface has an original design, representing a central symbolic image of sun rays. The coat of arms of Georgia, the rim with a circular legend საქართველო, and the date of issue “2006”.
First series (1993)
ImageValueTechnical parametersDescription
ObverseReverseDiameterMassCompositionEdgeObverseReverse
1 Tetri 15 mm 1.38 g Stainless Steel Smooth The denomination numeral "1" on the upper part of the coin, with the legend თეთრი (tetri) and the vine tendril underneath. The Borjgali (a Georgian symbol of the Sun with seven rotating rays) over the Christian Tree of Life, and the date of mintage, “1993”, with Georgian and English marginal legends on it, საქართველოს რესპუბლიკა and "Republic of Georgia".
2 Tetri 17.5 mm 1.9 g Stainless Steel Smooth Peacock with spread wings on the upper part of the coin, with the legend თეთრი (tetri) and denomination numeral “2” underneath.
5 Tetri 20 mm 2.5 g Stainless Steel Smooth Golden statue of a lion from the 3rd millennium BC barrow of the Alazani valley, with the denomination numeral “5”, and the legend თეთრი (tetri) underneath.
10 Tetri 21.9 mm 3 g Stainless Steel Smooth Saint Mammes riding the lion, 11th century silver plate gilded with gold from the Gelati Monastery. The denomination numeral “10” on the right hand of the coin, and the legend თეთრი (tetri) underneath
20 Tetri 25 mm 5 g Stainless Steel Smooth The stag from a painting by the Georgian painter Niko Pirosmanashvili (Pirosmani), with the denomination numeral “20” on the left-hand side, and the legend თეთრი (tetri) underneath.
50 Tetri 19 mm 2.45 g Brass Smooth The relief of a Griffin from the eastern façade of 11th century Samtavisi Cathedral, with the denomination numeral “50”, and legend თეთრი (tetri) underneath.

Banknotes

2016–2019 (current) series

Between November 2016 and October 2019 the National Bank of Georgia released five banknotes (in denominations of ₾5, ₾10, ₾20, ₾50, and ₾100), composing a new complete set.[14] The 2016–2019 series lari notes are produced by Polish Security Printing Works (Polish: Polska Wytwórnia Papierów Wartościowych).[15]

Image Value Dimensions Main colour Description Date of
obversereverse obversereverse printingissue
₾5 (Khuti lari) 122 × 62 mm Brown Portrait of Georgian author Ivane Javakhishvili with the legend ივანე ჯავახიშვილი 1876–1940, main building of the Ivane Javakhishvili Tbilisi State University Details from Niko Pirosmani paintings Threshing and Fisherman in a Red Shirt, and the coat of arms of Georgia 2017 1 September 2017
₾10 (Ati lari) 127 × 64 mm Blue Portrait of Georgian author Akaki Tsereteli with the legend აკაკი წერეთელი 1840–1915, an excerpt from Tsereteli's poem Spring Detail from Georgian artist David Kakabadze's painting Imereti - My Mother, and the coat of arms of Georgia 2019 1 October 2019
₾20 (Otsi lari) 132 × 66 mm Magenta Portrait of Ilia Chavchavadze, with the legend ილია ჭავჭავაძე 1837–1907, the magazines Sakartvelos Moambe and Iveria, founded by him, and his personal belongings Sculpture of King Vakhtang Gorgasali, founder of Tbilisi, Vakhushti Bagrationi's 18th century map of Tbilisi, a panorama of old Tbilisi and the Narikala fortress, and the coat of arms of Georgia 2016 1 February 2016
₾50 (Ormotsdaati lari) 137 × 68 mm Green Portrait of Georgian Queen Tamar with the legend თამარ მეფე XII ს., 12th–13th century Vardzia cave monastery complex and a bas-relief from the 13th century Pitareti Virgin Mary Monastery Miniature of a Sagittarius, a 12th century manuscript, and the coat of arms of Georgia 2016 1 February 2016
₾100 (Asi lari) 142 × 70 mm Violet Portrait of the Georgian poet Shota Rustaveli with the legend შოთა რუსთაველი XII ს., an illustration from the epic poem The Knight in the Panther's Skin, a page from its original prints and an ornament from its original manuscript and a 7th century bas-relief of Daniel in the lions' den from the Martvili Cathedral of Assumption of the Virgin Mary The Zakaria Paliashvili Georgian National Opera Theater, a fragment from the score of the Georgian national anthem and the coat of arms of Georgia 2016 1 November 2016
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

Earlier issues

The National Bank of Georgia announced that banknotes of 1, 2, 5, 10, 20, 50 and 100 lari issued between 1995 and 1999 will no longer be legal tender on 1 January 2022. These currencies can only be exchanged at the National Bank of Georgia from 1 January 2022.[16][17]

Image Value Dimensions Main colour Description Date of Remarks
obversereverse obversereverse printing issue[18] withdrawal
₾1 (Erti lari) 115 × 61 mm Green/Grey Portrait of Georgian artist Niko Pirosmanashvili (Pirosmani) with the legend "Pirosmani 1862–1918". Panorama of Tbilisi, the capital of Georgia, and an image of a stag from Pirosmani's painting. 2002 5 August 2002 coins minted since 2006
₾2 (Ori Lari) 115 × 61 mm Green/Orange Portrait of Georgian composer Zacharia Paliashvili and legend "Zacharia Paliashvili 1871–1933". The left side features the overture notes of his opera Abesalom da Eteri Building of the Tbilisi Zacharia Paliashvili Opera and Ballet State Theatre with the legend "Tbilisi National Opera and Ballet Theatre 1887". 2002 5 August 2002 coins minted since 2006
₾5 (Khuti lari) 115 × 61 mm Brown Portarait of Georgian academic Ivane Javakhishvili, with the legend "Ivane Javakhishvili 1876–1940" Main building of the Ivane Javakhishvili Tbilisi State University and an open book and a plant ornament underneath 2002 5 August 2002
₾10 (Ati lari) 125 × 63 mm Blue Portrait of Georgian poet and public figure Akaki Tsereteli, with the legend "Akaki Tsereteli 1840–1915", a swallow and blossoming branch Detail from Georgian artist David Kakabadze's painting Imereti - My Mother and vine tendril 2002 5 August 2002
₾20 (Otsi lari) 131 × 65 mm Navy yellow Portrait of Georgian public figure Ilia Chavchavadze with the legend "Ilia Chavchavadze 1837–1907" the magazines Sakartvelos Moambe and Iveria, founded by him and his personal belongings Sculpture of King Vakhtang Gorgasali, founder of Tbilisi, a map of Tbilisi from the 18th century by Vakhushti Bagrationi and a panorama of old Tbilisi – a composition of old Narikala 2002 5 August 2002
₾50 (Ormotsdaati lari) 135 × 66 mm Navy green Portrait of 12th Century Georgian Queen Tamar, image of a griffin on the left hand side of the banknote "Sagittarius astrological sign" from a Georgian miniature manuscript of the 12th century 2004 9 November 2004
₾100 (Asi lari) 140 × 67 mm Light green Shota Rustaveli graphic portrait and the legend "Shota Rustaveli XII c". The composition of angels raising the cross is depicted on the left side of the banknote A composition from the Biblical story "Daniel in the den of lions" from the Martvili monastery relief, and the legend "Martvili VIIc." 2004 9 November 2004
₾200 (Orasi lari) 146 × 72 mm Yellow Portrait of Kakutsa Cholokashvili. The background of the banknote is enhanced with fragments of relief images of Georgian Cultural Artifacts. City of Sukhumi and relief fragments of the iconostasis found in the village Tsebelda of Gulripshi District. 2006 15 April 2007
₾500 (Khutasi lari) 143 × 66 mm Green Portrait of David IV. Early Georgian inscriptions and a cross 1995 never officially released
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.
Current GEL exchange rates
From Google Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD RUB TRY
From Yahoo! Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD RUB TRY
From XE.com: AUD CAD CHF CNY EUR GBP HKD JPY USD RUB TRY
From OANDA: AUD CAD CHF CNY EUR GBP HKD JPY USD RUB TRY
Georgian kupon lari
Preceded by:
Georgian kupon lari
Reason: Replacement of the Soviet and Russian ruble with a transitional currency		 Currency of Georgia
April 5, 1993 – October 2, 1995		 Succeeded by:
Georgian lari
Reason: Hyperinflation
Ratio: 1 Georgian lari = 1,000,000 Georgian kuponi
Georgian lari
Preceded by:
Georgian kuponi lari
Reason: Hyperinflation
Ratio: 1 Georgian lari = 1,000,000 Georgian kuponi lari		 Currency of Georgia
October 2, 1995 –		 Succeeded by:
Current

See also

References

  1. ↑ Where the lari sign is not available, the letter ლ or ISO code is used
  2. ↑ "Lari banknotes". National Bank of Georgia. Retrieved 30 December 2006.
  3. ↑ "Georgian Lari has its own sign". National Bank of Georgia. Archived from the original on 20 May 2019. Retrieved 5 December 2017.
  4. 1 2 3 4 "Lari sign". National Bank of Georgia. Retrieved 5 December 2017.
  5. ↑ "Lari proposal" (PDF). Unicode.org. Retrieved 5 December 2017.
  6. ↑ "Announcing The Unicode® Standard, Version 8.0". Blog.unicode.org. Retrieved 5 December 2017.
  7. ↑ "Currency Symbols : Range: 20A0–20CF" (PDF). Unicode.org. Retrieved 3 February 2022.
  8. ↑ "საქართველოს ეროვნული ბანკის საბჭოს - დადგენილება №8". სსიპ ”საქართველოს საკანონმდებლო მაცნე” (in Georgian). 5 October 2018. Retrieved 8 January 2024.
  9. ↑ "Georgian 1 and 2 tetri coins to be taken out of circulation". agenda.ge. 28 July 2020. Retrieved 8 January 2024.
  10. ↑ "Stores begin rounding out Georgian 1, 2-tetri coins". agenda.ge. 3 January 2019. Retrieved 8 January 2024.
  11. ↑ "საქართველოს ეროვნული ბანკის საბჭოს - დადგენილება №3". სსიპ ”საქართველოს საკანონმდებლო მაცნე” (in Georgian). 2 November 2015. Retrieved 8 January 2024.
  12. ↑ "Old 50 Georgian tetri coins loosing legal tender status". agenda.ge. 5 October 2017. Retrieved 8 January 2024.
  13. ↑ "Exchange of old Georgian 50 tetri coins to be possible from January 2019". agenda.ge. 1 November 2018. Retrieved 8 January 2024.
  14. ↑ "Ganakhlebulilari.ge". Ganakhlebulilari.ge. Retrieved 3 February 2022.
  15. ↑ "Lari i guarani - banknoty z Polski dla Gruzji i Paragwaju". Pwpw.pl. Retrieved 3 February 2022.
  16. ↑ "The Term of Circulation for GEL Banknotes of 1995-99 Issue Expired in 2022". National Bank of Georgia. 5 January 2022. Retrieved 8 January 2024.
  17. ↑ "Circulation term of 1995-99 GEL banknotes expires". agenda.ge. 5 January 2022. Retrieved 8 January 2024.
  18. ↑ Linzmayer, Owen (2012). "Georgia". The Banknote Book. San Francisco, CA: Banknotebook.com.
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