31/12/2020: Digital Currency Pilot
Azerbaijan launched a pilot program to test the use of a digital currency, the digital manat, in an effort to modernize its financial system.
13/03/2020: COVID-19 Impact
The outbreak of the COVID-19 pandemic caused global economic uncertainty, leading to a decline in the value of the Georgian Lari and affecting the country's financial stability.
20/12/2017: Second Devaluation
The manat faced another devaluation, this time by around 30%, due to economic challenges and a sharp drop in oil prices.
25/01/2016: Currency Restructuring
The National Bank of Georgia implemented currency restructuring measures to stabilize the value of the Lari and restore confidence in the national currency.
20/12/2015: Devaluation
The manat was devalued by more than 30% against the US dollar in response to falling oil prices.
10/03/2011: Lari Depreciation
The Georgian Lari experienced a sharp depreciation, reaching a record low against the U.S. dollar, due to various economic factors and a global financial crisis.
13/08/2008: Russian Invasion
During the Russo-Georgian War, the Georgian Lari faced significant devaluation due to the economic and political instability caused by the invasion.
20/02/2005: Pegged to US Dollar
The Azerbaijani manat was pegged to the US dollar at a rate of 1.6 manat per dollar.
01/01/2002: Euro Conversion Rate
The conversion rate of 1 Euro = 1936.27 GEL was fixed, as Georgia adopted the Euro as its main reference currency.
14/06/2001: Currency Reform
A currency reform was implemented, resulting in a new manat with a higher exchange rate.
27/04/1999: Introduction of New Lari
The New Lari was introduced as the second and current official currency of Georgia, replacing the old Lari at a rate of 1 New Lari = 1,000 old Lari.
25/07/1995: Introduction of the Lari
The Georgian Lari was introduced as the official currency of Georgia, replacing the Russian ruble at a rate of 1 Lari = 1 million rubles.
31/12/1993: Hyperinflation
Azerbaijan experienced a period of hyperinflation, leading to the devaluation of the manat.
14/08/1992: Introduction of Manat
The Azerbaijani manat currency was introduced as the official currency of Azerbaijan, replacing the Soviet ruble.