Includes how foreign exchange is managed and implications for U.S. business.
Last Published: 8/29/2019

The lari (GEL) is the only legal tender in Georgia; it has no informal or parallel exchange rates.  Foreign businesses may convert GEL into hard currency at the market exchange rate and freely transfer the proceeds abroad without limitation.  One may hold foreign exchange in bank notes or on deposit in designated bank accounts.  There are no limitations on these accounts’ operations.

Since 1998, the GEL has maintained a floating currency.  Despite the GEL’s nearly 60 percent depreciation against the dollar from 2015 to 2018, Georgia has no plan to change its monetary policy.

All Georgian banks accept and issue credit cards.  Credit cards are accepted at most of the hotels, restaurants, and stores in Tbilisi, but some small stores or establishments still do not accept them.  ATMs are available throughout Tbilisi and in other cities.
 

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