Lari (Georgia)

The lari (abbreviated as GEEL and sometimes spelled as laari) is the national currency of the Republic of Georgia. It is divided into 100 tetri.

The currency was introduced in 1995 under the government of Eduard Shevardnadze as part of an ambitious reform programme that included privatisation and the introduction of a new currency to replace the Soviet-era ruble. It has remained fairly stable since then. As of August 2004, the exchange rate is about US$1 = 1.88 GEL.

Georgian banknotes are denominated in units of 1, 2, 5, 10, 20, 50 and 100 lari, and coins are issued in denominations of 1, 2, 5, 10, 20 and 50 tetri.