Georgian lari

Georgian lari
ქართული ლარი
ISO 4217 code	GEL
Central bank	National Bank of Georgia
Website	www.nbg.gov.ge
User(s)	Georgia (except Abkhazia and South Ossetia)
Inflation	5.6% (February 2016)[1]
Source	The World Factbook, 2013 est.
Subunit
1/100	tetri
Symbol	, ლ, ₾, GEL [2]
Coins	1, 2, 5, 10, 20, 50 tetri, 1, 2 lari
Banknotes
Freq. used	5, 10, 20, 50, 100 lari
Rarely used	1, 2, 200, 500 lari

The lari (Georgian: ლარი; ISO 4217: GEL) is the currency of Georgia. It is divided into 100 tetri. The name lari is an old Georgian word denoting a hoard, property, while tetri is an old Georgian monetary term (meaning 'white') used in ancient Colchis from the 6th century BC. Earlier Georgian currencies include the maneti and abazi.

Kuponi

Georgia replaced the Russian ruble on 5 April 1993, with Kuponi at par.^[3] 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.

Lari

On 2 October 1995,^[4] the government of Eduard Shevardnadze replaced the provisional coupon currency with the Lari, at a rate of one million to one. It has remained fairly stable since then.

Lari sign

The Georgian Lari currency sign, introduced on 8 July 2014

On 8 July 2014, Giorgi Kadagidze the Governor of the NBG introduced the winner sign of the national currency to the public and its author. Georgian lari got its own sign.^[5]

NBG has announced Lari sign competition in December 2013. The temporary commission consisting of representatives of NBG, the Budget and Finance Committee of the Parliament of Georgia, the State Council of Heraldry, the Ministry of Culture and Monument Protection of Georgia and the Ministry of Education and Science of Georgia has been created.^[6]

In order to identify the winner sign commission has given priority to the samples presented by the conception designed with Georgian Mkhedruli inscription and made a point of the following criteria: conception, design, accordance with Georgian alphabet, existence of elements marking the currency, possibility of outlining easily and also observance of requests and recommendations determined by competition rules.^[6]

Lari sign is based on graphic outline of one arched letter ლ (Lasi) of the Georgian script. According to the world experience with regard to various signs the first symbol of the sign is crossed by one or two parallel lines. It is notable that with regard to various currency signs addition of parallel lines is designed to transform a letter-mark into sign. In the Lari currency sign the two parallel lines crossed the Georgian (Lasi) are the organic parts of the letter. The so-called “leg” of “LASI” represented by horizontal line is the necessary attribute of the sign and adds monumental statics to the upper dynamic arc. The outline of the letter-mark is transformed on purpose in the design in order to simplify its perception and implementation as a Lari sign.^[6]

The author of the winner sign is an artist-ceramist by profession Malkhaz Shvelidze.^[6]

On 18 July 2014, Giorgi Melashvili, executive director of the National Bank of Georgia sent a request letter to the Unicode Consortium, to register the symbol in Currency Symbols block of the Unicode Standard. Proposed character of the Georgian Lari Symbol is ₾ U+20BE GEORGIAN LARI SIGN.^[7]

On 17 June 2015, the Unicode Consortium released^[8] Unicode V8.0 which includes the Lari sign^[9] ₾.

Coins

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

Image		Value	Technical parameters			Description			Date of			Remark
obverse	reverse		diameter × thickness	mass	composition	obverse	reverse	edge	first minting	issue	withdrawal
		1 tetri (Erti Tetri)	15.0 mm × 1.25 mm	1.38 g	Stainless steel.	The Borjgali (a Georgian symbol of the Sun with seven rotating wings) over the Christian Tree of Life, and the date of mintage, “1993”, with Georgian and English marginal legends on it, “საქართველოს რესპუბლიკა” and “REPUBLIC OF GEORGIA”.	The denomination numeral "1" on the upper part of the coin, with the legend “თეთრი” (tetri) and the vine tendril underneath.	Smooth.	1993	1993	—	The edge of the reverse of the coin is circled with the plant ornament.
		2 tetri (Ori Tetri)	17.5 mm × 1.25 mm	1.90 g			The peacock with spread wings on the upper part of the coin, with the legend “თეთრი” (tetri) and denomination numeral “2” underneath.		1993	1993	—
		5 tetri (Khuti Tetri)	20.0 mm × 1.32 mm	2.50 g			The golden statue of the lion from the 3rd millennium B.C. barrow of the Alazani valley, with the denomination numeral “5”, and the legend “თეთრი” (tetri) underneath.		1993	1993	—
		10 tetri (Ati Tetri)	22.0 mm × 1.27 mm	3.00 g			Saint Mamai riding the lion, 11th century silver plate gilded with gold from the Gelati Monastery. The denomination numeral “10” on the right hand of the coin, and the legend “თეთრი” (tetri) underneath.		1993	1993	—
		20 tetri (Otsi Tetri)	25.0 mm × 1.62 mm	5.00 g			The stag (adult male deer) from the painting of Niko Pirosmanashvili (Pirosmani), famous Georgian painter, with the denomination numeral “20” on the left-hand side, and the legend “თეთრი” (tetri) underneath.		1993	1993	—
		50 tetri (Ormotsdaati Tetri)	19.0 mm × 1.40 mm	2.50 g	Brass plated steel.		The relief of the Gryphon from the eastern facade of 11th century Samtavisi Cathedral, with the denomination numeral “50”, and legend “თეთრი” (tetri) underneath.		1993	1993	—
		50 tetri (Ormotsdaati Tetri)	24.0 mm × unknown thickness	6.50 g	Copper-nickel.	The coat of arms of Georgia, surrounded with a symbolic image of Sun beams, the legends “საქართველო”, and the date of issue “2006” under the coat of arms.	The denomination numeral “50”, and the legend “თეთრი” (tetri).	Milled. Bears a bilingual legend “საქართველო” and “Georgia”, with five-pointed stars in between.	2006	2006	—	The edge of the reverse of the coin is circled with dots.
		1 lari (Erti Lari)	26.2 mm × unknown thickness	7.80 g	Copper-nickel alloy (silver color)	Half-milled. The coat of arms of Georgia, the legend “საქართველო” on the upper left side, and the date of issue “2006” on the lower right side.	Half-milled. Denomination numeral “1” and legend “ლარი” (lari).		2006	2006	—	Both sides of the coin have a microelement, a lion head (analog of the old Colchian Tetri coin).
		2 lari (Ori Lari)	27.0 mm × unknown thickness	8.00 g	Inner ring: copper-aluminum-nickel alloy (gold color). Outer ring: copper-nickel alloy (silver color).	The coat of arms of Georgia, the rim with a circular legend “საქართველო”, and the date of issue “2006”.	Denomination numeral “2” and legend “ლარი” (lari). The silver-color milled surface has an original design, representing a central symbolic image of sun rays.		2006	2006	—
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Banknotes

Ten lari notes are produced by Polish Security Printing Works (Polska Wytwornia Papierow Wartosciowych).^[10]

Image		Value	Dimensions	Main colour	Description			Date of			Remark
obverse	reverse				obverse	reverse	watermark	printing	issue[11]	withdrawal
		1 GEL (Erti GEL)	115 × 61 mm	White	Portrait of Niko Pirosmanashvili (Pirosmani), famous Georgian artist with the legend „Pirosmani 1862-1918".	Panorama of Tbilisi, the capital of Georgia, and an image of a stag from Pirosmani's painting.		2002	5 August 2002		coins minted since 2006
		2 GEL (Ori GEL)	115 × 61 mm	Rose	Portrait of Georgian composer Zacharia Paliashvili and legend "Zacharia Paliashvili 1871 - 1933" . The left side features the overture notes of his opera "Abesalom and Eteri"	Building of the Tbilisi Zacharia Paliashvili Opera and Ballet State Theatre with the legend „Tbilisi National Opera and Ballet Theatre 1887".		2002	5 August 2002		coins minted since 2006
		5 GEL (Khuti GEL)	115 × 61 mm	Brown	Portarait of Ivane Javakhishvili, a Georgian academician, with legend "Ivane Javakhishvili 1876-1940"	Building of Ivane Javakhishvili Tbilisi State University and an open book and a plant ornament underneath		2002	5 August 2002
		10 GEL (Ati GEL)	125 × 63 mm	Blue	Portrait of Akaki Tsereteli, a famous Georgian poet and public figure, with the legend „Akaki Tsereteli 1840 - 1915", a swallow and blossoming branch	Portrait of mother from Georgian artist David Kakabadze's painting "Imereti - Mother of Mine" and vine tendril		2002	5 August 2002
		20 GEL (Otsi GEL)	131 × 65 mm	Navy yellow	Portrait of Ilia Chavchavadze, a public figure, with the legend „Ilia Chavchavadze 1837 - 1907, the magazines „Sakartvelos Moambe" and „Iveria", founded by him and his personal belongings	Sculpture of King Vakhtang Gorgasali, founder of Tbilisi, the map of Tbilisi in the 18th century (prepared by Vakhushti Bagrationi) and a panorama of old Tbilisi – a composition of old Narikala		2002	5 August 2002
		20 GEL (Otsi GEL)	132 × 66 mm	Magenta	Portrait of Ilia Chavchavadze, a public figure, with the legend „Ilia Chavchavadze 1837 - 1907, the magazines „Sakartvelos Moambe" and „Iveria", founded by him and his personal belongings	Sculpture of King Vakhtang Gorgasali, founder of Tbilisi, the map of Tbilisi in the 18th century (prepared by Vakhushti Bagrationi), a panorama of old Tbilisi – a composition of old Narikala and The coat of arms of Georgia		2016	February 2016
		50 GEL (Ormotsdaati GEL)	135 × 66 mm	Navy green	Portrait of Queen Tamar, 12th century, the image of the animal with wings is on the left hand side of the banknote	Astrological sign of "Sagittarius" from the Georgian miniature manuscript of the 12th century		2004	9 November 2004
		50 GEL (Ormotsdaati GEL)	137 × 68 mm	Green	The portrait of Georgian Queen Tamar with lettering in Georgian “თამარ მეფე XII ს, XII-XIII century monasterial complex in cave „Vardzia“ and The bas-relief from Pitareti Virgin Mari Monastery of XIII century	The miniature of the Zodiac sign „Sagittarius“, the manuscript from XII century script collection and The coat of arms of Georgia		2016	February 2016
		100 GEL (Asi GEL)	140 × 67 mm	Light green	Shota Rustaveli graphic portrait and the legend "Shota Rustaveli XII c". The composition of angels raising the cross is depicted on the left side of the banknote	A composition from the Biblical story "Daniel in the den of lions" from the Martvili monastery relief, and the legend "Martvili VIIc."		2004	9 November 2004
		100 GEL (Asi GEL)	142 × 70 mm	Violet	The portrait of the great Georgian poet Shota Rustaveli with lettering in Georgian „შოთა რუსთაველი XII ს.“, The illustration from the great poem „The Knight in the Tiger Skin“, the one of the pages of its original prints and the one of the ornaments from its original manuscript and VII century bas-relief of biblical plot “Daniel in the Den of Lions” from Martvili Cathedral of Assumption of the Virgin Mary	The Zakaria Paliashvili’s National Academic Theater of Opera and Ballet, The fragment from the Score of Georgian national anthem and The coat of arms of Georgia		2016	Not yet
		200 GEL (Orasi GEL)	146 × 72 mm	Yellow	Portrait of Kakutsa Cholokashvili. The background of the banknote is enhanced with fragments of relief images of Georgian Cultural Artifacts.	City of Sukhumi and relief fragments of the iconostasis found in the village Tsebelda of Gulripsh district.		2006	15 April 2007
		500 GEL (Khutasi GEL)	×  mm		Portrait of David IV.	Early Georgian inscriptions and a cross		1995
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

Current GEL exchange rates
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From fxtop.com:	AUD CAD CHF EUR GBP HKD JPY USD RUB
From Currency.Wiki:	AUD CAD CHF EUR GBP HKD JPY USDRUB

See also

• Economy of Georgia (country)

References

1. https://www.nbg.gov.ge/uploads/publications/inflationreport/2016/ir_eng_2016_290216.pdf
2. When the lari sign isn't available to hand, the letter ლ or ISO code is used.
3. National Bank of Georgia. "Money Museum". Retrieved 2012-11-12.
4. National Bank of Georgia. "Lari banknotes". Retrieved 2006-12-30.
5. NBG - Georgian Lari Has Its Own Sign
6. National Bank of Georgia — Lari Sign
7. Lari proposal
8. http://blog.unicode.org/2015/06/announcing-unicode-standard-version-80.html
9. http://www.unicode.org/charts/PDF/U20A0.pdf
10. http://www.pwpw.pl/index.php?pId=599
11. Linzmayer, Owen (2012). "Georgia". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.

External links

• Georgian money, National Bank of Georgia
• Banknotes of Georgia: Georgian Lari Catalog
• Coins of Georgia at CISCoins.net