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Georgia will Enjoy Renewed 100 GEL Banknotes From November

From November the new 100 GEL banknote will be introduced into circulation alongside the existing currency. The new money will depict the same iconic faces but will have a vastly different and more vibrant look with additional elements. The front side features a 12th-century Georgian poet Shota Rustaveli, while the back side …

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Lari Strengthens again: Economist Overviews the Trend

The national currency of Georgia is strengthening at high paces. Starting March 2016 LARI started revaluation in relation to USD. Our society has seen the national currency affixed even at 2.49 point against USD, after the 18-month history of depreciation ended in hitting the historical bottom of 2.49 point. Starting …

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Georgia Releases its Brand New Banknotes

Georgian money banknotes

On February 1 the National Bank of Georgia put new banknotes 20 and 50 GEL into turnover. The 100 GEL banknotes will appear in the turnover later and the NBG will preliminary inform the society. The well-known themes from the previous banknotes have been maintained on the new banknotes too. …

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Everybody against LARI: GEL Sees Historical Bottom

GEL currency

The GEL exchange rate keeps depreciating. Last week the Georgian national currency saw its historical minimum against USD (1USD=2.49 GEL). Unlike the previous year, when GEL was extremely depreciating, in January 2016 the devaluation paces have decelerated. Despite encouraging statements by the government and the National Bank representatives, the GEL  …

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Georgia’s Renewed Banknotes Will Circulate From Today

Renewed banknotes will appear in Georgia from February first, 20, 50 and 100 GEL banknotes are changed in color and size. The new money will depict the same iconic faces but will have a vastly different and more vibrant look with additional elements. The 20 GEL note has brighter red color, …

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Microsoft Adds Lari Symbol to its Operational System

ms_keyboard

American multinational technology giant Microsoft is adding a symbol recognising Georgia’s national currency, the Lari (GEL) to its operating system. Microsoft defined a new keyboard combination for the Georgian Lari and the Azerbaijani Manat currencies. After users update their Microsoft operating systems, the GEL symbol can be input by using …

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Georgia Renews National Banknote Design

Renewed Lari

Today, National Bank of Georgia introduced renewed GEL banknotes, which have not changed since 1995. Banknotes are big part of national identity, which make country different and unique. That’s why it needs to be renewed. Substantial changes of Lari has not occurred since 1995, so renewing it was really necessary. …

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Georgian Central Bank Expects Local Currency’s Strengthening

Georgian central bank’s head, Giorgi Kadagidze considers the rejection to spend state reserves against the backdrop of falling national currency as a right move, RIA Novosti reported Sept. 27. Kadagidze also expects the strengthening of Georgian national currency – the lari. The lari’s rate has for several years remained at …

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GEL Approaches Its All-Time Low

GEL

PM Irakli Garibashvili and his economic team met central bank chief Giorgi Kadagidze on Monday evening as the Georgian currency lari (GEL) weakened to near its record low. Lari fell to 2.4499 per U.S. dollar, according to central bank’s official exchange rate set for Tuesday, approaching its all-time low of …

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Saba Construction Positively Evaluates Initiative to Compensate Companies Partaking in Government Purchases

Saba Construction Positively Evaluates Initiative to Compensate Companies Partaking in Government Purchases

Giorgi Kvirikashvili’s statement overshadowed the euphoria caused by Lari devaluation… “The government will compensate winning companies in government tenders, specifically those who developed problems because of the currency devalutation,” – said Georgia’s Vice-Premiere, The Minister of Economy and Sustained Development, Giorgi Kvirikashvili, at a press briefing. The majority of the …

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Short-term plan of Minister of Economy

Minister-of-Economy

Minister of Economy represented short-term plan in parliament. Giorgi kvirikashvili represented six-point plan to  help strengthen GEL. 1. Accelerating privatization; 2.Tourism promotion; 3. Attracting investments; 4. Administrative cost reduction; 5. Realize large infrastructural projects; 6. Business stimulating legislative measures; In parliament continues to hear the government’s economic team. Giorgi Kadagidze, the president of National …

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