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The Currency of Georgia - Georgian Lari (GEL).

The Currency of Georgia - Georgian Lari (GEL).

The history of currency issued by The Government of Georgia, Started in 1993. It was Called “Kuponi” and due to the political instability was undergoing massive inflation. The situation got so bad, that at one point 1 USD = 1 300 000 GEK (Georgian Kuponi). Things Changed when in 1995 The National Bank of Georgia, with the grant by President Eduard Shevardnadze replaced “Kupons” with “Lari”. The national gold treasury was created and the rate has massively stabilized. In 1995, DEC 31 1 USD = 1,24 Gel.

Through its years, Georgian Lari had its ups and downs, but to this day it remained relatively stable and inflation is very gradual and controlled. Today as of me writing this article on the 4th of January official rate of Bank of Georgia is 1 USD = 2.86 GEL (Georgian Lari).

 


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