Georgia’s central bank marks national currency anniversary
Its name was inspired by terms used in historical Georgian kingdoms, with lari signifying treasure and property and tetri adopted as the fractional currency based on a historical coin from the Middle Ages. Photo: Nino Alavidze/Agenda.ge
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The National Bank of Georgia on Monday marked the 28th anniversary for lari, the country’s national currency, by noting its links from the history and its adoption in the modern state in 1995.
Selected as the official currency on October 2, 1995 and following the proclamation of the restoration of Georgia’s independence in 1991, the adoption of lari was facilitated by decisions of the Supreme Council of the then-newly proclaimed Republic of Georgia and the subsequent work of the National Bank.
Its name was inspired by terms used in historical Georgian kingdoms, with lari signifying treasure and property and tetri adopted as the fractional currency based on a historical coin from the Middle Ages.
The NBG’s board authorised ₾ as the currency's symbol, based on the letter ‘L’ of the Georgian alphabet, on July 7, 2014.
The Bank said collector coins would be issued in 2025 to commemorate the currency's 30th anniversary.
Georgian national currency, the lari, is among the ten “strongest currencies” in the world, with its exchange rate strengthening by approximately seven percent against the US dollar, with the rate marking a +19.5 percent increase in one year, local media outlet bm.ge reported on Friday.
The National Bank of Georgia on Wednesday said even though inflation was “still high” in the country, the trends were following a “downward trajectory”, with the numbers expected to remain below the “target level” in the second half of the year.
Georgian Prime Minister Irakli Garibashvili on Sunday told Imedi TV the "patriotic team" of the Government had brought "a lot of benefits" to Georgia “despite challenges”, in comments about its performance in the economy and infrastructure and criticism of the domestic opposition.
The National Bank of Georgia (NBG) has issued a 5 GEL (Georgian lari) silver collector coin, dedicated to the 100th anniversary of Constituent Assembly of the Democratic Republic of Georgia (Parliament).
Brand new 5 GEL (Georgian lari) silver coins will soon be released in Georgia to promote the country’s rich culture and history of ancient winemaking traditions. The new coins will picture Georgian vine varieties, wine and a large, ancient Georgian winemaking vessel qvevri.
Modernised 100 GEL (Georgian Lari) banknotes in bright new colours and sizes is coming into circulation today around the country.
The National Bank of Georgia and its educational platform Finedu on Tuesday launched a campaign for enhancing financial education among children, with the move coincided with the annual World Savings Day, a date aimed to raise awareness on the significance of prudent financial planning.
The National Bank of Georgia and its educational platform Finedu on Thursday won the poster competition on financial education at the sixth biennial Global Social and Financial Skills Conference that brought together experts and practitioners to share knowledge and best practices to socially and economically empower children and youth.