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.