GEL to UYU

GEL - Georgian Lari ()
UYU - Uruguayan Peso ($)
1 GEL1 UYU

Currency conversion rates from GEL to UYU

GELUYU
1 GEL1 UYU
5 GEL5 UYU
10 GEL10 UYU
20 GEL20 UYU
50 GEL50 UYU
100 GEL100 UYU
250 GEL250 UYU
500 GEL500 UYU
1000 GEL1000 UYU
2000 GEL2000 UYU
5000 GEL5000 UYU
10000 GEL10000 UYU
UYUGEL
1 UYU1 GEL
5 UYU5 GEL
10 UYU10 GEL
20 UYU20 GEL
50 UYU50 GEL
100 UYU100 GEL
250 UYU250 GEL
500 UYU500 GEL
1000 UYU1000 GEL
2000 UYU2000 GEL
5000 UYU5000 GEL
10000 UYU10000 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)


UYU - Uruguayan Peso ($U)

Uruguayan Peso

The Uruguayan Peso is the official currency of Uruguay. The name has been in use since the European settlement. The present currency was adopted in 1993 and is subdivided into 100 centésimos.

The Uruguayan peso is the currency in Uruguay (UY, URY). The symbol for UYU can be written $U. The Uruguayan peso is divided into 100 centesimos. The exchange rate for the Uruguayan peso was last updated on May 22, 2019 from The International Monetary Fund. The UYU conversion factor has 6 significant digits.

Economy

  • The economy of Uruguay is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending.
  • In 1603, cattle were introduced in Uruguay before its independence by Hernando Arias de Saveedra, the Spanish Governor of Buenos Aires. In 2006, beef accounted for about 37% of Uruguayan exports.
  • Wool is a traditional product exported mainly to America, followed by the UK and India.
  • Conaprole, the National Cooperative of Milk Producers, was the main exporter of dairy products in Latin America in 2006.
  • Fine varieties of rice are produced in the eastern lowlands, close to Merin lake on the Uruguay-Brazil border.

History

  • In 1828, Uruguay's currency was based on the silver Peso of eight reales, commonly known as the Patacon, and the gold onza de oro, valued at 16 pesos silver. A large quantity of debased copper coin also circulated.
  • In October, 1828, lacking the means to implement a national coinage, Gen. Jose Rondeau’s provisional government permitted foreign silver and gold coin to circulate freely at their intrinsic value, but restricted and later (1829) prohibited the importing of copper coins and the circulation of Buenos Aires banknotes.
  • A key characteristic of the currency is its instability, which increased in the spring of 2002.
  • Uruguayans have become accustomed to the constant devaluation and instability of their currency, and have developed a fitting lingo – calling periods of Dollar appreciation atraso cambiario ("the exchange rate is running late").

More information about UYU - Uruguayan Peso ($U)