The national currency, Georgian Lari (GEL), has been the only legal tender across all of Georgia since the 2nd of October, 1995. The word “lari” goes from old Georgian and means “treasure” or “property”.
Currently, the National Bank of Georgia puts into circulation banknotes of 5, 10, 20, 50, 100, 200 GEL and coins of 5, 10, 20, 50 tetri as well as 1 and 2 GEL coins.
1 lari consists of 100 tetri. Commercial business owners (Currency Exchange Offices), registered by the national bank and commercial banks functioning within Georgia, exchange national and foreign currency in Georgia.
The exchange offices are limited to only currency exchange operations.
The currency exchange offices are required:
To place information about the exchange rate and commission rate in an easy-to-see location.
To place an electronic board displaying the exchange rate, on which the rates for buying and selling and commission rates are depicted in the same script, size, and lighting, in an easy-to-see location.
For 30 minutes after receiving your receipt for buying or selling currency at a currency exchange office, you may present the receipt, and request to cancel the transaction as long as the transaction does not exceed 5,000 lari.