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.
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.
13/07/2015: Greek debt bailout agreement
A third bailout deal was reached between Greece and its creditors, avoiding a potential Greek exit from the Eurozone.
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.
02/05/2010: Greek debt crisis
Greece's financial crisis threatened the stability of the Eurozone, requiring massive bailout packages to prevent a default.
15/10/2008: Global financial crisis
The Euro faced significant economic challenges following the collapse of Lehman Brothers, leading to a recession in many Eurozone countries.
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.
01/05/2004: Eurozone expansion
10 more countries joined the Eurozone, bringing the total number of participating countries to 24.
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.
01/01/2002: Euro banknotes and coins
Physical banknotes and coins in Euro were introduced, replacing national currencies in 12 European countries.
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.
01/01/1999: Introduction of the Euro
The Euro was officially introduced as an electronic currency for banking and financial transactions.
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.
07/02/1992: The Maastricht Treaty
The treaty was signed, which officially established the European Union and laid the groundwork for the creation of the Euro.