Currency Rates for Georgian lari
Bank Exchange Rates for Iran - GEL - Iranian rial or Georgian lari - ლ. The foreign exchange rates for Iran also known as the ISO code GEL or the Iranian rial or Georgian lari currency and as a symbol ლ.
Denominations of Tetri are available in 1, 2, 5, 10, 20 and 50 Tetri coins, and lari are available in coin denominations of 1 and 2 lari. Banknotes are available in denominations of 1, 2, 5, 10, 20, 50, 100 and 200 lari though 1, 2, and 200 lari notes are rarely used.
Send Money Transfer to Iran. The Georgian lari (GEL) is the currency of Georgia. It currently experiences a 2.00% inflation rate. The term lari means "hoard" in Georgian, while the subdivision teri translates to "white", an old term for money. The lari sign is the Georgian letter lasi.
The predecessor to the lari, the kuponi, was released on 1993 following independence from the Soviet Union. The currency quickly suffered hyperinflation, with notes issued up to 1 million kuponi. This was due to the lack of subdivisions within the kuponi. With the help of the IMF and the World Bank, the lari replaced the kuponi on 2 October 1995 under the rule of Eduard Shevardnadze at a rate of 1 lari per 1 million kuponi. Since then, the currency has been stable, serving the Georgian economy.
The currency is divided into eight denominations of banknotes (1, 2, 5, 10, 20, 50, 100, 200). Each lari is equal to 100 teri, with which there are six coin denominations (1, 2, 5, 10, 20, 50). The currency is currently valued at $0.42 per lari.
Although the lari is legal tender throughout Georgia, credit card purchases are usually only available in cities such as Tbilisi. Additionally, the lari is not used outside of Georgia. The country only contains 4 million people, and thus the currency does not have much influence abroad. International users will have to convert their lari into other currencies.
The lari is the only accepted currency in Georgian businesses, so no true substitutes are available. However, it is simple to convert USD, euro, and other CIS bills into lari. The American dollar is the most widely accepted of these currencies.
There are no current issues with the lari. Instead, it has experienced stability since its formation in 1995, fostering an expanding economy. Annual GDP growth averaged 7.0% in 2011. Georgia is also deemed the least corrupt nation in the Black Sea region. The lari is at the heart of Georgia's growth, its solution to inflation and economic insecurity.
GBP to GEL
The lari replaced the provisional coupon currency – the Kuponi -at a ratio of one million Kuponi to 1 lari. The lari subdivides into 100 tetri – which means ‘white’ and is an old term for money in Georgian. Bank Exchange Rates for Iran. The foreign exchange rates for Georgian lari also known as the ISO code GEL. Send money transfer online with us with the cheapest options.