GELGeorgian LariGeorgian Lari (GEL)
The Georgian lari is Georgia's national currency and legal tender. The National Bank of Georgia is responsible for the monetary framework and publishes information on the lari's notes, coins and history. GEL is the ISO code used by international payment systems and reference-rate services, while tetri is the smaller unit: one lari is divided into 100 tetri. The name lari comes from an old Georgian word associated with a hoard or property, a detail recorded by the National Bank's currency museum. For practical conversion, the code is more reliable than a local symbol because it remains clear when Georgian, English and other language forms appear in the same record.
- ISO code
- GEL
- Symbol
- ₾
- Region
- Europe
- Currency type
- Fiat currency
- Exchange system
- Georgian Lari operates under the reviewed market-determined exchange rate arrangement.
- Last reviewed
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Quick facts
GEL at a glance
Currency profile
How GEL works
The Georgian lari is Georgia's national currency and legal tender. The National Bank of Georgia is responsible for the monetary framework and publishes information on the lari's notes, coins and history. GEL is the ISO code used by international payment systems and reference-rate services, while tetri is the smaller unit: one lari is divided into 100 tetri. The name lari comes from an old Georgian word associated with a hoard or property, a detail recorded by the National Bank's currency museum. For practical conversion, the code is more reliable than a local symbol because it remains clear when Georgian, English and other language forms appear in the same record.
National Bank of Georgia administers GEL within a market-determined exchange rate system.
- Introduced as Georgia's national currency in 1995.
- The reviewed cash profile records GEL 5, GEL 10, GEL 20, GEL 50, GEL 100, GEL 200 for banknotes and 5, 10, 20 and 50 tetri, GEL 1, GEL 2 for coins.
Context
Why this currency matters
The lari was introduced in the 1990s as Georgia established a national monetary system after the Soviet period. The National Bank's currency pages document lari banknotes and coins, including legal-tender 10-lari bi-metallic coins and the separate tetri denominations used for smaller values. This history explains why Georgian currency references can include both a modern national unit and earlier monetary memories without implying that the older units remain current. GEL is generally treated as a market-determined currency in international comparisons. Georgian lari information often combines a local name, a currency sign and the ISO code GEL. Those labels are complementary rather than competing currencies. The lari and tetri structure is especially helpful when reviewing small amounts, cash denominations or historical notes, while a provider date tells the reader when a comparison rate was observed.
Monetary framework
Exchange arrangement
Georgian Lari operates under the reviewed market-determined exchange rate arrangement.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for GEL
Coupon currency introduced
Georgia used a temporary coupon currency after leaving the ruble area.
National Bank of GeorgiaLari introduced
The lari replaced the coupon at one lari to one million coupons.
National Bank of GeorgiaLari symbol adopted
Georgia selected an official lari sign for consistent public and digital use.
National Bank of Georgia
Usage and economy
How GEL is used
- GEL is used for Georgian prices, taxes, payroll and domestic bank settlement.
- Lari conversions are common for tourism, remittances and regional trade involving TRY, EUR and neighboring currencies.
Banknotes and coins
GEL currency units
The issuing authority documents the reviewed GEL banknote denominations used in the current cash system.
The issuing authority documents the circulation coin system for GEL.
One Georgian Lari unit is recorded with 2 decimal places and uses Tetri as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
GEL questions
Who issues the Georgian lari?
The National Bank of Georgia is the country's monetary authority and publishes the official information on lari banknotes and coins.
When was the lari introduced?
The modern lari was introduced in 1995 as Georgia established its own national currency after the Soviet period.
Why is GEL useful in an international conversion?
GEL is the ISO code that keeps the Georgian lari distinct from local names, symbols and other currencies when a transaction crosses language or country boundaries.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.