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ISO 4217 Code：GEL

User(s)：Georgia except parts of Abkhazia and South Ossetia

Inflation：

10%

Source：The World Factbook, 2006 est.

Subunit：

1/100 tetri

Coins：

1, 2, 5, 10, 20, 50 tetri, 1 and 2 lari

Banknotes ：

Freq. used：

1, 2, 5, 10 lari

Rarely used：20, 50, 100 lari

Central bank：National Bank of Georgia

Website：http：//www.nbg.gov.ge

History of the Georgian Lari

The Georgian lari is the currency of Georgia. It is divided into 100 tetri. The name lari is an old Georgian word denoting a hoard, property, whilst tetri is an old Georgian monetary term used from the thirteenth century.

Kupon lari (Provisional Currency)

Georgia replaced the Russian ruble on 5 April 1993 with kupon lari 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 lari, including the somewhat unusual 3, 3000, 30,000 and 150,000 lari.

The Lari (Current Currency)

On October 2, 1995, the government of Georgia replaced the provisional coupon currency with the lari: ISO 4217 code GEL. The Georgian lari was introduced at a rate of one million kupon lari to one lari. The currency has remained fairly stable since.

Banknotes and coins

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

Georgian banknotes comes in the following denominations and motifs:

1 lari - Georgian fine artist Niko Pirosmani

2 lari - Georgian music composer Zakaria Paliashvili

5 lari - Historian Ivane Javakhishvili

10 lari - Famous poet Akaki Tsereteli

20 lari - Famous Georgian statesman and writer, "Father of the Georgian people" Ilia Chavchavadze

50 lari - Famous Georgian queen Tamar

100 lari - Poet Shota Rustaveli

200 lari (draft, not yet in currency) - Georgian soldier and anti-Soviet leader (1921-24) Kakutsa Cholokashvili

500 lari (only in interfinancial relations) - Greatest Georgian king David the Builder

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