GEL to MXN

GEL - Georgian Lari ()
MXN - Mexican Peso ($)
1 GEL1 MXN

Currency conversion rates from GEL to MXN

GELMXN
1 GEL1 MXN
5 GEL5 MXN
10 GEL10 MXN
20 GEL20 MXN
50 GEL50 MXN
100 GEL100 MXN
250 GEL250 MXN
500 GEL500 MXN
1000 GEL1000 MXN
2000 GEL2000 MXN
5000 GEL5000 MXN
10000 GEL10000 MXN
MXNGEL
1 MXN1 GEL
5 MXN5 GEL
10 MXN10 GEL
20 MXN20 GEL
50 MXN50 GEL
100 MXN100 GEL
250 MXN250 GEL
500 MXN500 GEL
1000 MXN1000 GEL
2000 MXN2000 GEL
5000 MXN5000 GEL
10000 MXN10000 GEL

GEL - Georgian Lari (GEL)

The Georgian lari is the official currency of the country of Georgia. It’s most commonly converted to the US dollar. The currency code for the lari is GEL, and its sign is ლ. The sign was introduced by the Governor of the National Bank of Georgia (NBG) in July 2014. It’s a three-quartered circle open in the lower-right-hand quadrant. It has two vertical parallel lines at its crest and rests on a platform the length of its diameter. It was conceived as part of a sign design contest that began in 2013. It was meant to be easy to construct and to be reminiscent of the Georgian alphabet.

The Lari is the basic monetary unit of Georgia. The word derives from an old native word meaning hoard. It is divided into 100 teri, the currency used in Georgia during the 13th century.

The Georgian Lari is the currency in Georgia (GE, GEO). The Georgian Lari is divided into 100 tetri. The exchange rate for the Georgian Lari was last updated on May 24, 2019 from Yahoo Finance. The GEL conversion factor has 5 significant digits.

Economy

  • The largest sector of the Georgian economy is the service industry, with wholesale and retail leading the sector.
  • Other industries include agriculture, mining, manufacturing, and fishing.
  • Georgia has become a leading producer of eggs and broiler chickens, as well as a primary producer of beef cattle, hogs, and milk.
  • Although Georgia was severely damaged economically by civil strife, the country has recovered with the help of the IMF and the World Bank.
  • Since 1995, Georgia has achieved positive GDP growth and has minimized inflation.

History

  • On October 2, 1995 the Georgian Lari became the official currency of Georgia.
  • It replaced the provisional coupon currency which was the kupon Lari, the currency that had replaced the Russian Ruble on April 5, 1993.
  • Eduard Shevardnadze’s government was in power during the establishment of the currency.
  • The coins in circulation are 1, 2, 5, 10, 20, and 50 tetri, and 1 and 2 Lari.
  • Commonly used banknotes are 5, 10, 20, and 50 Lari.
  • The 1, 2, 100, and 200 Lari banknotes are rarely used.

More information about GEL - Georgian Lari (GEL)


MXN - Mexican Peso (Mex$)

The Mexican peso is the currency of Mexico. Its currency code is MXN and its symbol is $. To distinguish it from other currencies using the $ symbol, the peso is sometimes written as M$, MX$, or MEX$. The symbol MXN replaced the former symbol, MXP. The peso has a conversion factor of 6 significant digits, and is fiat currency. The most popular peso exchange is with the US dollar.

The Mexican Peso was initially based on Spain’s official currency, which is the silver dollar. The Mexican name originated from the 8-real coins that were issued by Spain for Mexico, which were cast from pure silver. It was the first currency to use a discrete border and accurate weight to guard against counterfeits, which made it very popular.

The Mexican Peso is the currency in Mexico (MX, MEX). The symbol for MXN can be written Mex$. The Mexican Peso is divided into 100 centavos. The exchange rate for the Mexican Peso was last updated on Today from The International Monetary Fund. The MXN conversion factor has 6 significant digits.

Economy

  • The Mexican economy is supported by the private sector. And its economy was based on manufacturing, though agricultural sector went down, it was still considered the source of employment.
  • The Mexican economy went from a deep transformation since 1980s, which is a result of economic laissez-faire and becoming a member of the North American Free-Trade Agreement.
  • In 2003, mining reached a GDP of 1.4%, yet it devalues the significance of oil production in the economy. Oil exports symbolized 11.3% of the entire export earning of the country.

History

  • In the late 18th century, the Mexican Peso was used as a benchmark for all North American countries. On July 6, 1785, the US Dollar was valued at a rate comparable to the Peso, and was widely used as currency in the United States well after USD bills were introduced.
  • After gaining independence from Spain in 1821, Mexico continued to use the Peso as its currency.
  • In 1863, the first centavo coins were issued; a centavo was one-hundredth of a Peso. Another series of 1 peso coins was issued the following year until 1897.
  • In 1905, the value of golden Peso was reduced to 49.3%, but the silver Peso remained unchanged.
  • After the Oil Crisis of the 1970s, Mexico faced many years of inflation and debt defaults, leading to the replacement of the currency with the Nuevo Peso. The Nuevo Peso was valued at 1000 Mexican Pesos.

More information about MXN - Mexican Peso (Mex$)