Eritrean Nakfa in Georgian Lari

ERN Eritrean Nakfa

Country of application:
Eritrea

Coin denominations in circulation:
1, 5, 10, 25, 50 cents, 1 nakfa.

Denominations of banknotes in circulation:
1, 5, 10, 20, 50, 100 nakfa.

History reference:
The Eritrean nakfa is the national currency and fiat money of the State of Eritrea, a state in East Africa. Nakfa was introduced in 1997 when it replaced the Ethiopian Birr after the War of Independe...nce. The country went through seven years of stabilization, reconstruction and development before the start of a new border war with Ethiopia in 1998. In mid-2018, a turning point took place in the external environment of Eritrea. Ethiopia signed a peace treaty with Eritrea in July 2018. Eritrea has begun to normalize relations with neighboring countries. In November 2018, the UN Security Council lifted sanctions on Eritrea. The current account surplus will remain high in 2020, driven by Eritrean remittances from abroad (12% of GDP) and mining exports (25% of GDP).

GEL Georgian Lari

Country of application:
Georgia

Coin denominations in circulation:
5, 10, 20, 50, 100 GEL.

Denominations of banknotes in circulation:
1, 2, 5, 10, 20, 50 tetri, 1, 2 lari.

History reference:
The single monetary unit used in internal and, in part, in external settlements of Georgia is the Georgian lari. The name of the currency comes from the Georgian word, which means "property" or "rese...rve" in Russian. Previously, before the collapse of the USSR and the separation of Georgia, the banknotes of the USSR, Soviet rubles, were used in calculations, then they were temporarily replaced by Georgian coupons. However, the use of coupons in Georgia lasted only 4 years - in 1995, by a decree of President Shevardnadze, the lari was introduced into circulation. The design of banknotes was entrusted by the Central Bank to European designers, in particular, French and Slovak craftsmen made their contribution. The currency of Georgia contains images of cultural figures and national heroes, and on the reverse, the reverse side of banknotes and coins, there are images of architectural and art monuments belonging to Georgia.