Currency Of Georgia (Helpful Content!)

The currency of Georgia is the Georgian lari, one of which is divided into 100 tetri. This name is derived from an old Georgian word meaning hoard or property. These replaced Soviet roubles after the fall of the Soviet Union and have been in use Georgia ever since, though their form has somewhat changed over time.

The Georgian currency, then, is the lari, and there have been a good many changes to the currency throughout its relatively short history.

Currencies in former soviet states are often one of the most important parts of independence and in establishing a stable economy thereafter.

Let’s find out more.

What is the currency of Georgia?

The currency of Georgia is the Georgian lari.

The Georgian lari is divided into 100 tetri.

A number of different currencies have been used in Georgia throughout time; prior to Georgia’s position as a state of the Soviet Union, various currencies including the Georgian maneti were used.

In 1995, the Georgian government introduced the lari, replacing the provisional coupon currency that had been used during the transitional period after the fall of the Union.

Since then, the currency has remained fairly stable and strong and is in a good position today.

Initially, the Soviet currency was replaced by the kuponi, or coupon as mentioned, at par.

This currency was decidedly unstable; it consisted entirely of banknotes and was not subdividable at all.

There were also severe problems with hyperinflation of the currency, and denominations were very unusual; they were between one and one million, including notes like 3, 3000, 30,000, and 150,000.

It was vital, then, to introduce a stable currency to bring the country’s economy under control.

Today, lari are issued by the National Bank of Georgia, the nation’s central bank.

In 2014, the bank introduced the sign that was proposed for the national currency and at this point the currency at last had its own sign.

A competition to produce the sign was announced at the end of 2013, and priority was given to samples based on the Georgian Mkhedruli character, the current Georgian script.

Coins are issued in denominations between 1 and 50 tetri as well as 1 and 2 lari.

There have been multiple series of banknotes with the current series being established in 2016 after the competition and the introduction of the official symbol.

Portraits on the notes have included Georgian authors Ivane Jvakhishvili and Akaki Tsereteli, as well as the Georgian Queen Tamar.

What was the currency in Soviet Georgia?

Before the lari, then, and indeed the coupon system, Georgia was of course a member of the Soviet Union.

The currency of the Soviet Union was the Soviet rouble, which in 1922 had replaced the Imperial Russian rouble.

A rouble was divided into 100 kopecks, and coins and notes were issued by the Federal State Unitary Enterprise, which were found in Moscow and Leningrad.

The name of the rouble derives from the Slavic verb to chop, as the rouble historically was a piece of a certain weight of silver ingot, and the rouble is still the currency used in Russia today—though naturally, it is not the same as the old Soviet rouble.

Every country of the Soviet Union had a different name for the Rouble, including Georgia, but they were all the same currency and could be used in any of the member nations.

Georgia of course felt the effects economically of the Union’s collapse and went through a period of considerable economic strife to get to the point of stability.

But the lari did eventually stabilize quite quickly and remained stable more or less ever since it was established.

Today, then, you’ll need lari to travel in Georgia—but is anything else accepted?

Are euros accepted in Georgia?

Euros are not accepted in Georgia—the Black Sea separates Georgia from Europe and so there is not even much physical proximity to speak of, even aside from the fact that Georgia is not an EU member state nor could it choose to be.

Euros are of course one of the most widely traded currencies in the world, and thus you will no doubt get good rates on conversion to the lari if you bring euros—but you will not be able to use them directly to pay for things in the country.

What currency should you bring, then?

What currency should I bring to Georgia?

Given that it’s likely to be difficult to get your hands on lari depending on where you are, the best option will be to convert currency once you arrive in Georgia.

You could bring euros or US dollars—this is likely your best option and where you will get the most advantageous conversion rates.

Russian roubles are also a possibility, though the economic situation in Russia is obviously very uncertain at the moment and thus it is probably going to be easier and more advantageous to use American dollars or euros.

You could also use pounds sterling.

Georgian lari are relatively easy to get hold of, then, if you come armed with the right currency.

You’ll get good conversion rates locally if you have dollars, euros, or even Russian roubles to hand.

Georgian lari will convert well into any of these currencies, so as long as you convert your own local currency to one of these beforehand, getting hold of lari at good rates should be no problem at all.