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Information about currency: Lari

Currency nameLari
CountryGeorgia
Dates(unknown) -
System

1 Lari = 100 Tetri

Description

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 (meaning 'white') used in ancient Colchis from the 6th century BC. Earlier Georgian currencies include the maneti and abazi.

Georgia replaced the Russian ruble on 5 April 1993, with Kuponi 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.

On 2 October 1995, the government 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, 2, 5, 10, 20 and 50 tetri, as well as 1 and 2 lari.

Currency Lari was used:
Country From To
Georgia Lari 1995