What is lari?

Lari is the currency of Georgia, a country located in the Caucasus region of Eurasia. The official abbreviation for the lari is GEL (Georgian Lari). It was introduced on 26th September 1995, replacing the Soviet-era ruble. The lari currency is issued by the National Bank of Georgia, which is responsible for regulating the country's monetary policy. One lari is divided into 100 tetris. The lari is denoted by the symbol "₾". As of September 2021, 1 US Dollar is equivalent to roughly 3.14 Georgian lari. The current banknotes in circulation are 5, 10, 20, 50, 100, and 200 lari, while coins are available in denominations of 1, 2, 5, 10, 20, and 50 tetris as well as 1 and 2 lari. The use of the lari has significantly contributed to the stabilization of the Georgian economy.