Georgian monetary unit refers to the official currency used in Georgia, a country located in the Caucasus region of Eurasia. The Georgian monetary unit is called the Georgian Lari (GEL). Introduced in 1995, the lari replaced the Soviet ruble as the national currency.
The Georgian Lari is divided into 100 tetri, which are smaller denomination coins. The currency is issued and regulated by the National Bank of Georgia, which ensures its stability and proper circulation within the country. The bank prints and mints the necessary denominations of paper banknotes and metal coins required for facilitating financial transactions.
The lari has several denominations, including banknotes in denominations of 1, 2, 5, 10, 20, 50, and 100 lari, as well as coins in denominations of 1, 2, 5, 10, 20, and 50 tetri. These banknotes and coins are used for everyday transactions, such as buying goods and services, paying bills, and conducting financial exchanges within Georgia.
The Georgian monetary unit, the lari, plays a vital role in the country's economy and is recognized as legal tender for all financial transactions within Georgia. Its value can fluctuate relative to other currencies in the foreign exchange market, and the National Bank of Georgia manages its exchange rate to ensure stability and support the country's economic growth and trade relations.
