SZL to 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.

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SZL - Swazi Lilangeni (SZL)

Swazi Lilangeni

The Swaziland Lilangeni is the official currency of Swaziland and is subdivided into 100 cents. The Lilageni is produced by the Central Bank of Swaziland. In 1974, coins of 1, 2, 5, 10, 20 and 50 cents and 1 Lilangeni were issued; the 1 and 2 cent coins were struck in bronze and the others in cupro-nickel.

The Swazi Lilangeni is the currency in Swaziland (SZ, SWZ). The symbol for SZL can be written L, and E. The Swazi Lilangeni is divided into 100 cents. The exchange rate for the Swazi Lilangeni was last updated on May 24, 2019 from Yahoo Finance. The SZL conversion factor has 5 significant digits.

Economy

• After growing by 3% from 2004 to 2008, the economy in the Swaziland slipped significantly in 2009, primarily due to the effect of the global economic downturn on export-oriented sectors, in particular textiles and wood pulp.
• Other important factors were ongoing drought and low levels of foreign direct investment (FDI). In 2010, the economy recovered slightly due to a rebound in global demand for sugar and textiles.
• However, falling receipts from the Southern African Customs Union (SACU) coupled with lower internal revenues limited the government’s ability to implement counter-cyclical measures.
• In order to control the economic conditions of the previous year, lower interest rates were maintained, similarly to South Africa.

History

• The Lilangeni was introduced in 1974 to compete with the South-African rand through the Common Monetary Area, to which it remains tied at a one-to-one exchange rate.
• According to tradition, the present Swazi nation moved south before the 16th century to an area now called Mozambique.
• After a series of wars with people living in the area of modern Maputo, the Swazis settled in northern Zululand in 1750.

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