Converting from Georgian Lari (GEL) to Macedonian Denar (MKD)

What is Georgian Lari (GEL)

The Georgian Lari (GEL) is the official currency of Georgia, a country located at the crossroads of Eastern Europe and Western Asia. The Lari was introduced in 1995, replacing the previous currency, the Kuponi. The symbol for the Lari is "₾" and it is subdivided into 100 Tetri.

The Lari has fluctuated over the years, influenced by various economic factors, including inflation rates, trade balances, and foreign investments. It is important to note that the Lari is subject to currency exchange rates, which can vary from day to day based on market conditions. As a result, when converting GEL to other currencies such as the Macedonian Denar (MKD), the exchange rate at the time of the transaction needs to be taken into account.

The Bank of Georgia is primarily responsible for issuing and managing the currency, and you can find it in both paper notes and coins. The Lari’s notes come in denominations of 1, 2, 5, 10, 20, 50, 100, and 200 GEL, while the coins are available in 1, 2, 5, 10, 20, and 50 Tetri, as well as in 1, 2, and 5 Lari.

What is Macedonian Denar (MKD)

The Macedonian Denar (MKD) is the official currency of North Macedonia, a landlocked country in the Balkan Peninsula. The Denar was introduced in 1992, replacing the former currency, the Macedonian dinar. The symbol for the Denar is "ден", and it is divided into 100 deni.

The Denar has generally been stable compared to other currencies in the region, thanks to North Macedonia's commitment to maintaining a fixed exchange rate with the Euro. This stability is crucial for trade and investment, making it easier for businesses and individuals to exchange goods and services across borders.

Similar to the Lari, the Denar is influenced by economic factors such as inflation, interest rates, and foreign trade. The National Bank of the Republic of North Macedonia oversees the management of the Denar, ensuring its appropriate circulation in the economy. Denominations of the Denar notes include 10, 50, 100, 500, and 1,000 MKD, while coins are typically issued in 1, 2, 5, 10, 20, and 50 denars.

Currency Conversion

When converting Georgian Lari (GEL) to Macedonian Denar (MKD), it is essential to check the current exchange rate. The exchange rate can be expressed as follows:

Amount in MKD = Amount in GEL × Exchange Rate (GEL to MKD)

Make sure to use reliable financial sources or currency converters to obtain the most up-to-date rates before making any transactions. Understanding these currencies can help facilitate your financial dealings whether you are traveling, investing, or doing business in either country.