1. What is the official currency of Georgia?

The official currency of Georgia is the Georgian lari (GEL).

2. Are there any restrictions on foreign currency transactions in Georgia?

There are no restrictions on foreign currency transactions in Georgia. The country has a free-floating exchange rate and a liberalized foreign exchange regime. Individuals and businesses are allowed to hold foreign currency accounts and there are no limits on the amount of foreign currency that can be bought or sold. However, all transactions must comply with anti-money laundering regulations and certain documentation may be required for larger transactions.

3. What is the current exchange rate for local currency to US dollar in Georgia?

As of September 2021, the current exchange rate for Georgian Lari (GEL) to US Dollar (USD) is approximately 3.10 GEL to 1 USD. However, the exchange rate may fluctuate daily. It is recommended to check with a currency converter or your bank for the most up-to-date exchange rate.

4. Is it better to use cash or credit cards for purchases in Georgia?

It’s generally better to use cash for purchases in Georgia, as credit card acceptance may be limited outside of major cities. You may also encounter additional fees for using foreign credit cards, and some smaller establishments may only accept cash. It’s a good idea to carry both cash and a credit card when traveling in Georgia.

5. Do businesses in Georgia typically accept US dollars or do they prefer local currency?

Businesses in Georgia typically prefer local currency, which is the Georgian Lari (GEL). While some businesses may accept US dollars, it is not common and you may receive change back in GEL. It is recommended to exchange some of your dollars for Georgian Lari upon arriving in the country. You can easily exchange currency at banks, exchange offices, or withdraw local currency from ATMs using your debit or credit card.

6. Are there any hidden fees or charges when exchanging money in Georgia?

There may be some hidden fees or charges when exchanging money in Georgia, such as service fees or commissions charged by the exchange bureau. It is important to check and compare the exchange rates and fees of different exchange bureaus before making a transaction. Additionally, some ATMs may also charge a foreign transaction fee for using a non-local card.

7. Can I use ATMs from my home country bank in Georgia to withdraw money?

It depends on the specific bank and ATM network in which you have an account. Some global banks may have partnerships or agreements with local banks in Georgia that allow their customers to withdraw money from ATMs without any additional fees. However, it is always recommended to check with your home country bank and inquire about international ATM usage fees before traveling to Georgia. Additionally, you may also consider opening an account with a local bank in Georgia to avoid potential fees and currency conversion charges.

8. Is it necessary to tip service workers and what is the customary amount in Georgia?

Tipping service workers is not mandatory in Georgia, but it is considered a common practice to show appreciation for good service. The customary amount for tipping in Georgia is generally 10-15% of the bill.

Some specific places where tipping is expected include restaurants (especially for sit-down meals), bars, and hair salons. In these cases, it is customary to round up the bill or leave around 10-15% of the total cost as a tip.

Other service workers such as hotel staff, taxi drivers, and tour guides may also be tipped if they provide exceptional service. The amount can vary depending on the level of service received, but a tip of 5-10 GEL (Georgian Lari) per day is often seen as appropriate.

It is important to note that tipping should always be based on your satisfaction with the service provided, and it should never feel mandatory. If you are dissatisfied with the service, there is no obligation to leave a tip.

9. Can I purchase traveler’s checks before traveling to Georgia, and are they widely accepted?

Yes, you can purchase traveler’s checks before traveling to Georgia. They are not as widely accepted in Georgia as they used to be, but you may still be able to use them at larger hotels, banks, and some tourist attractions. It is recommended to also bring a credit or debit card for more convenience.

10. Are there any restrictions or limits on bringing foreign currency into or out of Georgia?

There are no restrictions or limits on bringing foreign currency into or out of Georgia. However, any amount that exceeds 10,000 USD or the equivalent in other currencies must be declared to Customs upon arrival. Failure to declare this amount may result in penalties and confiscation of the currency.

11. Do major hotels and restaurants accept credit cards, and if so, which types are most commonly accepted?

Major hotels and restaurants in most countries accept credit cards, especially in popular tourist destinations. Visa and Mastercard are the most commonly accepted types, followed by American Express and Discover. Some hotels and restaurants may also accept local or regional credit card brands, such as JCB in Japan or UnionPay in China. It is always best to check with the specific hotel or restaurant beforehand to confirm which credit cards they accept.

12. Are there any unique features of the currency used in Georgia, such as coins with different values or special designs?

Yes, the currency used in Georgia is the Georgian lari (GEL), which has been in circulation since 1995. Some unique features of this currency include:

1) The GEL is divided into 100 tetri.

2) The banknotes feature famous Georgian figures and landmarks, such as Queen Tamar, Shota Rustaveli, and the Ananuri Fortress.

3) The coins are available in various denominations – 1 tetri, 2 tetri, 5 tetri, 10 tetri, 20 tetri and 50 tetri.

4) In addition to standard coins and banknotes, there are also commemorative coins and banknotes that are issued for special occasions or to honor significant events or people.

5) The GEL has a unique security thread embedded in each banknote to prevent counterfeiting.

6) One side of the banknotes features a portrait of different noted Georgians while the other side depicts important historical events or cultural symbols.

7) There are plans to introduce a new series of banknotes with enhanced security features and designs by the National Bank of Georgia in the future.

13. Is haggling acceptable when making purchases, especially in markets and smaller shops?

Haggling, also known as bargaining, is widely accepted in markets and smaller shops in many cultures. In some countries, it is even expected that customers negotiate for lower prices. However, it is important to be respectful and polite when haggling and to not push too hard if the shopkeeper does not agree to your proposed price. It is also helpful to have an idea of what a fair price might be before beginning negotiations.

14. Can I pay for goods and services with a mix of both local currency and US dollars?

It depends on the specific country and business you are dealing with. Some countries may allow you to pay for goods and services in a mix of local currency and US dollars, while others may only accept one form of payment. It is best to check with the business or do some research on the specific country’s accepted currencies before attempting to make a mixed payment.

15. What is the most convenient way to exchange money while traveling through different regions of Georgia?

The most convenient way to exchange money while traveling through different regions of Georgia is to use ATMs or currency exchange bureaus. It is recommended to withdraw local currency from ATMs rather than bringing large amounts of cash with you. Most major cities and tourist destinations in Georgia have ATMs available, but it’s always a good idea to carry some cash in case of emergencies. Some places, especially smaller towns, may only accept cash so it’s important to always have some local currency on hand.

16. Are there alternative forms of payment in addition to cash and credit cards, such as mobile payments or digital wallets in Georgia?

Yes, there are alternative forms of payment in addition to cash and credit cards in Georgia. Some popular ones include:

1. Mobile payments: These allow users to make payments through their mobile phones using a variety of technologies such as Near Field Communication (NFC), QR codes, or direct carrier billing.

2. Digital wallets: Similar to mobile payments, these can be loaded with funds from bank accounts or credit cards and used for electronic transactions.

3. Payment apps: These are third-party apps that allow users to make purchases directly from their bank accounts or credit cards, often with added features such as loyalty programs.

4. Prepaid cards: These are prepaid debit cards that can be loaded with a specific amount of money and used for purchases at participating merchants.

5. Cryptocurrencies: While not widely accepted in Georgia yet, some merchants do accept payment in cryptocurrencies such as Bitcoin.

6. Bank transfers: Direct bank transfers can also be used for online purchases and bill payments.

7. Contactless cards: Many banks offer contactless debit and credit cards which use NFC technology for quick and easy transactions without the need for physical contact between the card and the payment terminal.

8. E-checks: Electronic checks, or e-checks, allow consumers to make online payments by entering their checking account information instead of using a traditional paper check.

9. PayPal: This global digital wallet platform allows users to make online payments and send money without sharing financial information with merchants.

10. Venmo: A popular peer-to-peer payment app owned by PayPal that allows users to send and receive money from friends and family using mobile devices.

17. Is tipping expected during taxi rides, at hotels, or at other specific locations like spas or salons in Georgia?

Tipping is generally expected in Georgia in the hospitality and service industries. This includes taxi rides, hotel stays, and at spas or salons. It is usually customary to tip around 10-15% of the total bill for these services. However, tipping is not mandatory and you may choose not to tip if you feel dissatisfied with the service provided.

18. Are there certain stores where tourists can receive tax refunds on their purchases before leaving Georgia?

Yes, there are certain stores in Georgia where tourists can receive tax refunds on their purchases before leaving the country. These stores participate in the “Tax-Free Shopping” scheme, which allows visitors to claim back the Value-Added Tax (VAT) on eligible goods purchased in Georgia.

Tourists can receive tax refunds at major shopping centers and department stores, as well as some specialty shops and souvenir stores. To be eligible for a tax refund, the purchase must be made at a store participating in the scheme, and the total amount spent (including VAT) must exceed 300 GEL.

To claim a tax refund, tourists must present their passport and completed Tax-Free Shopping form at customs when leaving Georgia. The form will then be stamped by customs and can be used to claim your refund at designated refund points within the airport or at other locations around the country.

19..How should I handle my leftover foreign currency when departing from Georgia, including coins and smaller bills?

1. Exchange it back to your local currency: The most straightforward way to handle your leftover foreign currency is to exchange it back to your local currency before leaving Georgia. You can do this at a bank, airport currency exchange kiosk, or at a licensed foreign exchange counter.

2. Use it for future trips: If you have plans to travel again in the near future, you can keep your leftover currency and use it on your next trip instead of exchanging it. However, be mindful of any expiration dates on the bills or coins as some countries may not accept older or outdated currencies.

3. Donate it: Consider donating your leftover foreign currency to a charity or non-profit organization that accepts international currencies. This is a great way to put your unused money to good use and help those in need.

4. Keep it as a souvenir: If you have a special connection with Georgia or want to remember your trip, you can keep some of the smaller bills and coins as souvenirs. Just make sure to only keep a small amount, as larger amounts may cause issues when going through customs.

5. Spend it at the airport: If you still have some time before your flight departs, you can spend your leftover currency at duty-free shops or restaurants in the airport. Just be aware that these may not offer the best exchange rates.

6. Sell it online: You may be able to sell your leftover foreign currency online through websites such as eBay or dedicated foreign currency exchange sites. However, be cautious when using these sites and research the buyer/seller thoroughly before making any transactions.

Remember that each country has its own laws and regulations when it comes to handling foreign currencies, so make sure to check what is allowed and any restrictions before departing from Georgia with your leftover money.

20. Is there a limit on the amount of local currency I can withdraw from ATMs in Georgia each day?

The limit on ATM withdrawals in Georgia varies depending on the bank and your individual account. Most banks have a daily withdrawal limit of 2000 GEL (around $600 USD), but this can be higher or lower depending on your account type and banking relationship. It is best to check with your bank for specific details on your withdrawal limits.