Georgian Lari

The Lari is the currency of Georgia. It was introduced in 1993, replacing the Soviet ruble at a rate of 1 lari = 10,000 rubles. The word "lari" is derived from the old Georgian word "lar" meaning "money". The lari has been stable since its introduction. It is divided into 100 tetri ( Georgian: თეთრი Tetri; plural: თეთრები Tetrebi). Since 1 January 2007, the official ISO 4217 code for the Georgian lari has been GEL. 1 lari is subdivided into 100 tetri. The name "tetri" comes from the old Georgian word for "small", and is used in many other Slavic and non-Slavic languages as a diminutive suffix. The GEL was introduced in 1993, replacing the Soviet ruble at a rate of 1 GEL = 10,000 rubles. The word "lari" is derived from the old Georgian word "lar" meaning "money". The GEL has been stable since its introduction. It is divided into 100 tetri (Georgian: თეთრი Tetri; plural: თეთრები Tetrebi). Since 1 January 2007, the official ISO 4217 code for the Georgian lari has been GEL. The GEL is issued by the National Bank of Georgia. The design of the GEL notes is the same as that of the former Soviet ruble notes, with the addition of Georgian inscriptions. The GEL is used in all transactions in Georgia, including the payment of taxes and utility bills. It is also accepted in some businesses in Azerbaijan, Turkey and Ukraine. As of November 2015, the exchange rate of the GEL was 1.93 GEL = 1 USD.