When traveling to another country, it's important to ensure you have enough money for all your planned activities. In this article, you will learn about the currency of Georgia, how to budget for your trip to this country, where to exchange currency, and more.
Georgian currency
The national currency of Georgia is the GEL (lari). It was officially established as the national currency in the late 1990s. The lari is used for payments for transportation, accommodation, purchases in stores, and so on.
It is prohibited to use any other currency in the country. This requirement is legally enforced, and violators may face penalties. Another currency may be used in some cases, such as when paying directly to a landlord for accommodation.
When entering the country with more than 2000 USD, you need to fill out a declaration. It is prohibited to export more than 25,000 GEL from Georgia.
How much money to bring
Everyone determines their travel budget based on personal possibilities and vacation style. However, there are essential expenses that should be included in any travel plan. These include:
- Accommodation
Whether you're staying at a hotel, hostel, or renting an apartment. Approximate cost of accommodation:
- Hostel — from 30 GEL per night per person;
- Apartment — from 120–180 GEL per night.
- Food
Sometimes meals are included in the hotel price. If not, you should budget from 50 GEL per person per day.
- Transport
Even if you only plan to visit free attractions, you’ll still need to spend on public transport. In cities, you can use minibuses or taxis. Between cities, there are buses and trains. The cost depends on the destination and distance.
Based on these three categories, a minimum budget of 450–550 USD per person for a week is recommended.
Currency system features in Georgia
In Georgia, tourists can exchange money at banks, exchange offices, or with street currency dealers. The latter is very risky, as it's hard to immediately verify whether the money you receive is genuine.
Exchange Offices
You can buy foreign currency at exchange offices (Exchange) in various cities. Exchange points are available in all Georgian airports, but it’s best to exchange small amounts there as the rates are usually unfavorable.
Features of exchange offices:
- No commission exchange. Many exchange points offer this service. Confirm with the staff the final amount you will receive, and calculate based on the rate — to ensure there's no hidden commission.
- The rate among exchange points in the same city differs slightly (typically not more than 0.2 GEL). If a point offers a significantly higher rate, it may be the selling rate, not the buying rate — double-check with the staff.
- Working hours. Exchange offices usually work from 9:00 to 20:00. In larger cities, you may find some open until midnight.
- Passport is not required to exchange money.
Banks
There are many banks in Georgia, but the most trusted among tourists are Bank of Georgia and TBC Bank. With their services, you can:
- Make a currency exchange (the rate may be a bit less favorable, but your money is safe);
- Send a money transfer.
To perform any banking operation in Georgia, you’ll need your passport.
Bank hours are usually from 9:00 to 18:00 on weekdays. Some branches operate on Saturdays, depending on the city and the branch status.
Payment: сash or сard
Many purchases can be made with a credit card, but to pay at markets or small shops, it is necessary to have sufficient cash on hand.
In small towns (such as Akhaltsikhe and others), it can be quite difficult to find exchange offices or banks. It is better to travel to these places with the necessary amount of cash in lari.
In larger cities, there are ATMs where you can withdraw cash. However, the bank charges a commission for each transaction (typically around 2% of the withdrawn amount).
The commission fee depends on the conditions of your bank. Therefore, it is advisable to clarify all the details (such as the size of the commission and the ability to withdraw cash abroad) at your bank branch before traveling to Georgia.
Lastly, bargaining is acceptable in most places in Georgia. This allows you to save some money on your purchases.
