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Nestled in the Caucasus Mountains between Europe and Asia lies the country of Georgia. Its capital city Tbilisi boasts ornate architecture and sumptuous cuisine that entices visitors from around the globe. But before wandering the bustling streets and food markets of this charming metropolis, it’s essential to get acquainted with the currency in Georgia country used to purchase those mouth-watering khachapuri cheese breads, the colorful Georgian Lari.

Understanding the Lari, with its unique coins and vibrant banknotes, provides a window into Georgia’s rich culture and tumultuous history. Exchanging your foreign bills for this exotic currency in Georgia country represents the first step in your Georgian adventure. So, let’s unravel the mysteries of the Lari, from the minor Tetri coins jingling in your pocket to the large denominations changing hands in Tbilisi’s lively shops. With some Lari basics, you’ll be ready to immerse yourself in Georgia’s intoxicating sights, sounds, tastes, and transactions using the currency in Tbilisi, Georgia.

Overview of Currency in Georgia Country

The current currency in Georgia country Used is the Georgian Lari (GEL). Introduced in 1995 to replace the Soviet ruble after gaining independence from the USSR, the Lari has become an integral part of everyday life for Georgians. It is denoted by the symbol “₾” and further subdivided into 100 tetri. Named after a traditional Georgian necklace made of silver or gold threads, known for its beauty and intricacy, the Lari symbolizes both cultural heritage and modernity. The Lari has been the official currency since 1995 when it replaced the Georgian Coupon. Georgia has experienced various currency changes over the past century as the country transitioned from being part of the Soviet Union to an independent state.

History of Currency in Georgia Country

The small country of Georgia has endured an epic rollercoaster ride when it comes to currency over the past century. From Soviet Rubles to Coupons, and now the Georgian Lari, the money used in Georgia tells a captivating story intertwined with the nation’s quest for identity and independence.

Currency in Georgia country has evolved through various stages:

In 1919, the Democratic Republic of Georgia issued the Georgian Manetti currency for 3 years until the new Soviet regime introduced the Transcaucasian Ruble.
In 1921, Georgia became part of the USSR, and the Soviet Ruble was put into circulation, remaining for over 70 years under Soviet rule.
After declaring independence from the USSR in 1991, Georgia introduced the temporary Georgian Coupon currency due to high inflation.
In 1993, the National Bank of Georgia was established to regulate monetary policy and issue currency in Georgia.
In 1995, the Georgian Lari was established as the new national currency in Georgia country to replace the Coupon.
In 2004, a new improved series of Lari banknotes with enhanced security features was issued.
In 2009, Georgia’s Central Bank switched to using an interest rate targeting regime to improve monetary policy effectiveness.

The Lari has come a long way from the early volatility and hyperinflation of the 1990s transition period. However, maintaining price stability and fiscal discipline continues to be priorities for Georgia’s economic policymakers when managing the currency in Georgia country.

Denominations and Coins of the Georgian Lari

The Lari is divided into 100 subunits called Tetri. This is similar to a currency having cents as subunits.

The banknotes of the Georgian Lari come in the following denominations:

1 Lari
2 Lari
5 Lari
10 Lari
20 Lari
50 Lari
100 Lari

The coins of the Lari currency come in the following denominations:

1 Tetri
2 Tetri
5 Tetri
10 Tetri
20 Tetri
50 Tetri
1 Lari
2 Lari

The smaller denominations of 1, 2, and 5 Tetri are minted from aluminum. The 10, 20, and 50 Tetri and 1 Lari coins are minted from brass. The highest coin denomination of 2 Lari is minted from nickel alloy. Both the banknotes and coins feature prominent Georgian artwork and national symbols to celebrate the country’s culture. They utilize unique designs to distinguish the Lari from other global currencies.

Lari Exchange Rates in 2023

As of 2023, the exchange rate for the Georgian Lari (GEL) against some major currencies are:

1 US Dollar = 2.76 Lari

1 Euro = 2.95 Lari

1 British Pound = 3.32 Lari

1 Russian Ruble = 0.043 Lari

1 Turkish Lira = 0.15 Lari

The Lari is a floating currency, so the exchange rates can fluctuate daily based on foreign exchange markets. In 2022, the Lari depreciated around 10% against the US Dollar due to global economic conditions such as rising inflation and interest rates as well as regional geopolitical tensions. However, the Lari has been relatively stable versus the Euro and other major currencies over the past year. It has avoided any dramatic swings in value.

The Reasons Why Georgian Lari is Used

There are a few key reasons why the Georgian Lari became currency in Tbilisi, Georgia and remains in use today:

Independence: The Lari provided a sense of monetary independence and sovereignty after the collapse of the Soviet Union. Using a unique currency allowed Georgia to have autonomous control over its money supply and monetary policy.
Stability: After high inflation and economic uncertainty in the early 1990s, the Lari was introduced to help stabilize the Georgian economy by replacing the temporary Coupon currency.
National Pride: Having its own currency promoted Georgian national identity and pride after decades of Soviet rule. The Lari provided a symbol of Georgia’s nationhood.
Accession Hopes: Adopting the Lari signaled Georgia’s desire to move closer to Western institutions and standards. This included hopes of eventually joining the European Union.

So, in summary, the Lari represents Georgia’s economic independence and alignment with European and Western values as much as a functional means of exchange. The Lari is a physical embodiment of Georgia’s national identity.

Exchanging Foreign Currencies for Lari

Visitors to Georgia will need to exchange their home currency for the local Lari currency. You can exchange money at banks, official currency exchange offices, and many hotels in Georgia.

The most widely accepted foreign currencies to exchange for Lari are:

– U.S. Dollars

– British Pounds

– Euros

– Russian Rubles

– Turkish Lira

– Armenian Dram

When exchanging money, you may need to present your passport for identification and proof of identity. The exchange rates fluctuate daily based on foreign currency markets. The rates offered at banks and official exchanges are usually better than those at hotels or shops.

It’s a good idea to exchange a small amount of money at airports and border crossings when you first arrive in case you need Lari right away for transportation, food, or expenses. You can then exchange the rest of your money as needed during your trip at banks in larger cities and towns where the rates are more favorable.

Having some Lari cash on hand is recommended, especially outside of major tourist hubs, as card acceptance may be limited in more rural areas. When departing Georgia, you can convert unused Lari back to your home currency at exchanges.

Tips for Using the Lari While Visiting Georgia

Here are some tips for using and managing the Georgian Lari currency during your travels to Georgia:

Check exchange rates online before your trip to understand the current value of the Lari against your currency. Rates can fluctuate regularly.
Research reputable banks and exchanges beforehand that offer fair exchange rates and low fees. Ask your hotel for recommendations.
Request smaller denominations when exchanging money to make paying for small purchases and transactions easier.
Use a credit card or debit card for large purchases instead of carrying huge amounts of Lari cash.
Keep an eye on your cash when in crowded areas or markets. Pickpocketing does rarely occur in tourist spots.
Carry a mix of smaller Lari notes and coins for paying for things like metro tickets, snacks, or coffee.
Get a receipt when you exchange money so you can compare rates being offered around the country.
Never exchange money on the street with strangers or unlicensed dealers as you may receive counterfeit notes.

In conclusion, familiarizing yourself with the Georgian Lari will make your travels around Georgia much smoother. Knowing a few tips and being prepared before exchanging and spending money will help you avoid hassles.

Exchanging Lari When Leaving Georgia

If you have any Georgian Lari currency leftover after your trip, you will need to exchange it back to your home currency before departing Georgia if you can’t use it where you live.

Here are some tips for exchanging your leftover Lari:

Exchange Lari back at major banks and currency exchanges, hotels, or Tbilisi International Airport.
Only exchange back to a major currency like USD or EUR if possible. Exchanging to less common currencies likely will have higher fees.
Ask for an exchange receipt stating the amount exchanged and rate so you can compare options.
Do not wait until the very last minute on your travel day in case an exchange has insufficient funds on hand.
If exchanging at the airport, find the exchange booth before proceeding through security for your flight.
Exchange all your Lari if possible. It likely can’t be converted back home and won’t be useful as a souvenir due to the low value.
Check exchange rates in advance online and calculate roughly how much foreign currency you should expect to get back when exchanging your Lari.
Never exchange with unofficial street vendors or individuals before leaving as they may scam you with fake or defaced money.

By planning ahead, you can minimize transaction fees and get the best rate when converting your Georgian Lari back to your home currency. This will make your departure from Georgia smooth and ensure you don’t leave any money on the table.

Ways to Send Money to Georgia

If you need to send money to friends or family in the country of Georgia, there are several options:

Wire Transfers

This is a fast and secure way to send large amounts of money directly to a bank account in the country of Georgia. Fees are higher but exchange rates are competitive when converting to the currency in Georgia country.

Money Transfer Services

Companies like Western Union, MoneyGram and Ria allow you to send cash for pickup at locations around the country of Georgia. Good for small to medium transfers and for getting currency in Georgia country.

Cash Transfers

Some Georgian banks partner with companies to offer cash pickup of transfers sent from abroad to the country of Georgia. Fees vary by amount sent and currency in Georgia country being obtained.

Mobile Money Transfers

Services like World Remit let you send funds to mobile wallets like TBC Pay in the country of Georgia. Usually best for smaller amounts of currency in Georgia country.

Cryptocurrency Transfers

Using Bitcoin or Ether to send funds directly to someone’s digital wallet in the country of Georgia. Fast but check the legal status of cryptocurrency in Georgia.

Bank Card Transfers

Providers like TransferWise let you send funds abroad to debit cards issued in the country of Georgia. Low fees but slower delivery of currency in Georgia country.

When sending money to the country of Georgia, pay close attention to transfer times, fees, exchange rates and pickup options that work for the recipient’s needs for currency in Tbilisi, Georgia. Having all the right information will ensure your transfer to obtain currency in Tbilisi, Georgia is smooth.

Last Words

The Georgian Lari is steeped in national pride and history as a symbol of Georgia’s independence and aspirations following the Soviet Union’s collapse. While relatively new, it represents an important monetary transition as Georgia develops its modern economy and connections with Europe. Visitors should feel confident exchanging their home currency for Lari to experience Georgia’s unique culture of hospitality, cuisine, winemaking and nature. Understanding some basics about the Lari will help make travel transactions a breeze. Just be sure to convert any spare Lari back before flying home with this beautiful currency as a souvenir.