Georgian Lari (GEL) is the only legal tender in the country. “Lari” is the old Georgian word meaning treasure and property. “Tetri” is one-hundredth part of Georgian Lari.
Since 1995, 1, 2, 10, 20, 50 and 100 lari denominated banknotes were in circulation within the country adding 1, 2, 5, 10, 20, and 50 tetri worth of coins.
Later, the National Bank of Georgia put in circulation 200 GEL banknotes, 1 and 2 GEL coins also renewed 50 tetri. For sure mentioned old banknotes were withdrawn from circulation.
In case the banknotes are damaged it is possible to be substituted with new ones without any additional charges in Commercial Banks or National Bank of Georgia.
As for the foreign currency, it is possible the banknotes to be changed however it might arise additional charges. In addition, the commercial banks usually do not take foreign currency coins.
In order to avoid falsification upgraded banknotes (20, 50 and 100 lari denominations) having easily understandable security features. for example:
• Water sign – through the light the denomination numeral digits and currency sign images can be seen.
• The sign for weak eyesight people – on the front side of the banknote, on the left and right edge there are 3 horizontal lines marked. When a person touches the banknote right away feels them.
National Bank of Georgia is the main expert of national currency. Additionally, it systematically withdraw fake and counterfeit banknotes from circulation without any compensation.