GEL - Georgian Lari

The National Bank of Georgia (NBG) serves as the country's central monetary authority, responsible for issuing banknotes, minting coins, and conducting monetary policy. Georgia introduced the Lari on October 2, 1995, two years after gaining independence from the Soviet Union — a move that finally ended the hyperinflation-plagued kuponi transitional currency. The NBG publishes daily exchange rates (indicative rather than mandatory) and maintains independence in setting interest rates. When sending money to Georgia, transfers convert at rates determined by market participants and intermediaries.

The Lari replaced the Georgian coupon (kuponi) in October 1995, itself a stopgap that had replaced the Soviet ruble on April 5, 1993. The kuponi suffered catastrophic inflation — denominations climbed from 1 to 1 million, with odd values like 3,000, 30,000, and 150,000 issued as prices spiraled. President Eduard Shevardnadze's government introduced the Lari to stabilize the economy and establish monetary credibility. The name lari derives from an old Georgian word meaning hoard or property — an apt choice for a currency meant to restore confidence in savings.

Georgian banknotes showcase national heritage through portraits of cultural figures. The ₾100 note features Shota Rustaveli (Georgia's most revered poet, author of The Knight in the Panther's Skin) with a holographic stripe visible only when tilted. Queen Tamar and poet Akaki Tsereteli appear on other denominations. Between 2016 and 2019, the NBG released redesigned notes (₾5, ₾10, ₾20, ₾50, ₾100) with enhanced security features. The ₾200 and ₾500 notes exist but rarely circulate — the ₾200 was last printed in 2006, and the ₾500 has never entered general circulation.

The symbol ₾ was unveiled on July 8, 2014, after a public competition organized by the National Bank. Artist Malkhaz Shvelidze created the winning design, which transforms the Georgian letter lasi (ლ) by crossing it with two parallel lines — following the convention of currency symbols worldwide (like $ or €). The leg of the letter adds stability to the arched form. Unicode formally adopted the symbol, making it available for global digital use. The subunit tetri (meaning white in Georgian) traces back to ancient Colchis coinage from the 6th century BC.