Finance:Georgian lari

From HandWiki
Short description: Currency of Georgia
Georgian lari
ქართული ლარი (Georgian)
Lari banknotes.png Sign of Georgian Lari.svg
ISO 4217
CodeGEL (numeric: 981)
Subunit0.01
Unit
Unitlari
PluralThe language(s) of this currency do(es) not have a morphological plural distinction.
Symbol₾, ლ,‎ (GEL[1])
Denominations
Subunit
 ​1⁄100tetri
Banknotes
 Freq. used₾5, ₾10, ₾20, ₾50, ₾100
 Rarely used₾1, ₾2, ₾200
Coins5, 10, 20, 50 tetri, ₾1, ₾2
Demographics
Date of introduction1995
ReplacedGeorgian coupon (კუპონი)
User(s) Georgia
Issuance
Central bankNational Bank of Georgia
 Websitewww.nbg.gov.ge
PrinterPolska Wytwórnia Papierów Wartościowych (pl)
 Websitewww.pwpw.pl
Valuation
Inflation1.9% (November 2018)
 SourceNational Bank of Georgia

The lari (Georgian: ლარი; ISO 4217: GEL) is the currency of Georgia. It is divided into 100 tetri (თეთრი). The name lari is an old Georgian word denoting a hoard, property, while tetri is an old Georgian monetary term (meaning 'white') used in ancient Colchis from the 6th century BC. Earlier Georgian currencies include the maneti (Georgian: მანეთი), abazi (აბაზი), and kuponi (კუპონი).

Kuponi

Georgia replaced the Soviet ruble on 5 April 1993, with the kuponi (Georgian: კუპონი) at par. This currency consisted only of banknotes, had no subdivisions and suffered from hyperinflation. Notes were issued in denominations between 1 and 1 million kuponi, including the somewhat unusual 3, 3000, 30,000 and 150,000 kuponi.

  • Highest denominations of each series of the Georgian kuponi

  • 10 000 kuponi, 1993 (1st issue)

  • 100 kuponi, 1993 (2nd issue)

  • 100 000 kuponi, 1993 (3rd issue)

  • 20 000 kuponi, 1994 (4th issue)

  • 1 000 000 kuponi, 1994

Lari

On 2 October 1995,[2] the government of Eduard Shevardnadze replaced the provisional coupon currency with the Lari, at a rate of one million to one. It has remained fairly stable since then.

Lari sign

The Georgian Lari currency sign, introduced on 8 July 2014.

On 8 July 2014, Giorgi Kadagidze, Governor of the National Bank of Georgia (NBG), introduced the winning proposal for the sign of the national currency to the public and its author. The Georgian lari had its own sign.[3]

The NBG announced the Lari sign competition in December 2013. The temporary commission consisted of representatives of NBG, the Budget and Finance Committee of the Parliament of Georgia, the State Council of Heraldry, the Ministry of Culture and Monument Protection of Georgia and the Ministry of Education and Science of Georgia.[4]

In choosing the winning sign, the commission gave priority to the samples based on the Georgian Mkhedruli character and made a point of the following criteria: conception, design, accordance with Georgian alphabet, existence of elements marking the currency, ease of construction, and observance of requests and recommendations determined by competition rules.[4]

The Lari sign is based on an arched letter ლ (Lasi) of the Georgian script. It is common international practice for a currency sign to consist of a letter, crossed by one or two parallel lines. Two parallel lines crossing the letter Lasi are the basic components of the Lari sign. The so-called “leg” of the letter, represented by a horizontal line, is a necessary attribute of the sign, adding monumental stability to the upper dynamic arc. The form of the letter is transformed in order to simplify its perception and implementation as a Lari sign.[4]

The author of the winning sign is a professional artist-ceramist, Malkhaz Shvelidze.[4]

On 18 July 2014, Giorgi Melashvili, executive director of the National Bank of Georgia, sent a request letter to the Unicode Consortium to register the symbol in the Currency Symbols block of the Unicode Standard as

₾ U+20BE GEORGIAN LARI SIGN[5]

On 17 June 2015, the Unicode Consortium released[6] Unicode V8.0, which includes the Lari sign as

U+20BE ₾ LARI SIGN (HTML ₾)[7]

Coins

Coins are issued in denominations of 5, 10, 20 and 50 tetri, as well as 1 and 2 lari.

The National Bank of Georgia announced on 5 October 2018 that it would discontinue circulation of 1 and 2 Tetri coins as of 1 January 2021, and that these coins would lose their legal tender status. 1 and 2 Tetri coins could be exchanged at the National Bank of Georgia and commercial banks in Georgia within one year from 1 January 2021, and can only be exchanged at the National Bank of Georgia from 1 January 2022.[8][9] According to the new regulations on cash payments introduced by the National Bank of Georgia on 1 January 2019, 1 and 2 tetri are rounded to 0, and 3, 4, 6 and 7 tetri are rounded to 5.[10]

The National Bank of Georgia announced on 12 November 2015 that, effective 1 January 2018, the old 50 Tetri coin, issued since 1995, would be withdrawn from circulation and the coins would lose their legal tender status. The old 50 Tetri coin were exchangeable at the National Bank of Georgia and commercial banks of Georgia within one year from 1 January 2018, and from 1 January 2019 only at the National Bank of Georgia.[11][12][13]

Second Series (2006)
Image Value Technical parameters Description
Obverse Reverse Diameter Mass Composition Edge Obverse Reverse
50 Georgian Tetri Reverse (Steel).jpg 50 Georgian Tetri Obverse (Steel).jpg 50 Tetri 24 mm 6.52 g Stainless Steel Smooth The denomination numeral “50”, and the legend თეთრი (tetri). The coat of arms of Georgia, surrounded with a symbolic image of Sun beams, the legends საქართველო, and the date of issue “2006” under the coat of arms. 1 Georgian Lari Reverse.jpg 1 Georgian Lari Obverse.jpg 1 Lari 26.2 mm 7.85 g Copper-nickel Reeded with incuse lettering: the country name in Georgian and English (საქართველო and "Georgia") Half-milled. Denomination numeral “1” and legend ლარი (lari). Half-milled. The coat of arms of Georgia, the legend საქართველო on the upper left side, and the date of issue “2006” on the lower right side. 2 Georgian Lari Reverse.jpg 2 Georgian Lari Obverse.jpg 2 Lari 27 mm 8 g Bi-Metallic Copper-aluminium-nickel center in Copper-nickel ring Reeded with incuse lettering: the country name in Georgian and English (საქართველო and "Georgia") Denomination numeral “2” and legend ლარი (lari). The silver-color milled surface has an original design, representing a central symbolic image of sun rays. The coat of arms of Georgia, the rim with a circular legend საქართველო, and the date of issue “2006”.
First series (1993)
Image Value Technical parameters Description
Obverse Reverse Diameter Mass Composition Edge Obverse Reverse 1 Georgian Tetri Reverse.jpg 1 Georgian Tetri Obverse.jpg 1 Tetri 15 mm 1.38 g Stainless Steel Smooth The denomination numeral "1" on the upper part of the coin, with the legend თეთრი (tetri) and the vine tendril underneath. The Borjgali (a Georgian symbol of the Sun with seven rotating rays) over the Christian Tree of Life, and the date of mintage, “1993”, with Georgian and English marginal legends on it, საქართველოს რესპუბლიკა and "Republic of Georgia". 2 Georgian Tetri Reverse.jpg 2 Georgian Tetri Obverse.jpg 2 Tetri 17.5 mm 1.9 g Stainless Steel Smooth Peacock with spread wings on the upper part of the coin, with the legend თეთრი (tetri) and denomination numeral “2” underneath. 5 Georgian Tetri Reverse.jpg 5 Georgian Tetri Obverse.jpg 5 Tetri 20 mm 2.5 g Stainless Steel Smooth Golden statue of a lion from the 3rd millennium BC barrow of the Alazani valley, with the denomination numeral “5”, and the legend თეთრი (tetri) underneath. 10 Georgian Tetri Reverse.jpg 10 Georgian Tetri Obverse.jpg 10 Tetri 21.9 mm 3 g Stainless Steel Smooth Saint Mammes riding the lion, 11th century silver plate gilded with gold from the Gelati Monastery. The denomination numeral “10” on the right hand of the coin, and the legend თეთრი (tetri) underneath 20 Georgian Tetri Reverse.jpg 20 Georgian Tetri Obverse.jpg 20 Tetri 25 mm 5 g Stainless Steel Smooth The stag from a painting by the Georgian painter Niko Pirosmanashvili (Pirosmani), with the denomination numeral “20” on the left-hand side, and the legend თეთრი (tetri) underneath. 50 Georgian Tetri Reverse (Brass).jpg 50 Georgian Tetri Obverse (Brass).jpg 50 Tetri 19 mm 2.45 g Brass Smooth The relief of a Griffin from the eastern façade of 11th century Samtavisi Cathedral, with the denomination numeral “50”, and legend თეთრი (tetri) underneath.

Banknotes

2016–2019 (current) series

Between November 2016 and October 2019 the National Bank of Georgia released five banknotes (in denominations of ₾5, ₾10, ₾20, ₾50, and ₾100), composing a new complete set.[14] The 2016–2019 series lari notes are produced by Polska Wytwórnia Papierów Wartościowych (pl) (Polish: Polska Wytwórnia Papierów Wartościowych).[15]

Image Value Dimensions Main colour Description Date of
obverse reverse obverse reverse printing issue

Template:Banknote specification table row Template:Banknote specification table row Template:Banknote specification table row Template:Banknote specification table row Template:Banknote specification table row

Earlier issues

The National Bank of Georgia announced that banknotes of 1, 2, 5, 10, 20, 50 and 100 lari issued between 1995 and 1999 will no longer be legal tender on 1 January 2022. These currencies can only be exchanged at the National Bank of Georgia from 1 January 2022.[16][17]

Image Value Dimensions Main colour Description Date of Remarks
obverse reverse obverse reverse printing issue[18] withdrawal

Template:Banknote specification table row Template:Banknote specification table row Template:Banknote specification table row Template:Banknote specification table row Template:Banknote specification table row Template:Banknote specification table row Template:Banknote specification table row Template:Banknote specification table row Template:Banknote specification table row


See also

References

  1. ↑ Where the lari sign is not available, the letter ლ or ISO code is used
  2. ↑ "Lari banknotes". National Bank of Georgia. http://www.nbg.gov.ge/index.php?m=193. 
  3. ↑ "Georgian Lari has its own sign". National Bank of Georgia. https://www.nbg.gov.ge/index.php?m=340&newsid=2485&lng=eng. 
  4. ↑ 4.0 4.1 4.2 4.3 "Lari sign". National Bank of Georgia. https://www.nbg.gov.ge/index.php?m=630&lng=eng. 
  5. ↑ "Lari proposal". https://www.unicode.org/L2/L2014/14161-lari-proposal.pdf. 
  6. ↑ "Announcing The Unicode® Standard, Version 8.0". http://blog.unicode.org/2015/06/announcing-unicode-standard-version-80.html. 
  7. ↑ "Currency Symbols : Range: 20A0–20CF" (PDF). https://www.unicode.org/charts/PDF/U20A0.pdf. 
  8. ↑ "საქართველოს ეროვნული ბანკის საბჭოს - დადგენილება №8" (in ka). 5 October 2018. https://matsne.gov.ge/document/view/4339813?publication=0. 
  9. ↑ "Georgian 1 and 2 tetri coins to be taken out of circulation". agenda.ge. 28 July 2020. https://agenda.ge/en/news/2020/2384. 
  10. ↑ "Stores begin rounding out Georgian 1, 2-tetri coins". agenda.ge. 3 January 2019. https://agenda.ge/en/news/2019/16. 
  11. ↑ "საქართველოს ეროვნული ბანკის საბჭოს - დადგენილება №3" (in ka). 2 November 2015. https://matsne.gov.ge/document/view/3034236?publication=0. 
  12. ↑ "Old 50 Georgian tetri coins loosing legal tender status". agenda.ge. 5 October 2017. https://agenda.ge/en/news/2017/2159. 
  13. ↑ "Exchange of old Georgian 50 tetri coins to be possible from January 2019". agenda.ge. 1 November 2018. https://agenda.ge/en/news/2018/2286. 
  14. ↑ "Ganakhlebulilari.ge". http://ganakhlebulilari.ge/. 
  15. ↑ "Lari i guarani - banknoty z Polski dla Gruzji i Paragwaju". http://www.pwpw.pl/Biuletyn/Archiwum/l/lari-i-guarani---banknoty-z-polski-dla-gruzji-i-paragwaju%5B2%5D.html. 
  16. ↑ "The Term of Circulation for GEL Banknotes of 1995-99 Issue Expired in 2022". 5 January 2022. https://nbg.gov.ge/en/media/news/the-term-of-circulation-for-gel-banknotes-of-1995-99-issue-expired-in-2022. 
  17. ↑ "Circulation term of 1995-99 GEL banknotes expires". agenda.ge. 5 January 2022. https://agenda.ge/en/news/2022/23. 
  18. ↑ Linzmayer, Owen (2012). "Georgia". The Banknote Book. San Francisco, CA: Banknotebook.com. http://www.banknotebook.com. 

External links



Retrieved from "https://handwiki.org/wiki/index.php?title=Finance:Georgian_lari&oldid=3314477"