17.
Why did banknotes in denominations of 1 and 2 Lari disappear?

Due to the specifics of money circulation in the country and economic factors, the consumption rate of banknotes in denominations of 1 and 2 Laris, despite of their coverage by special means for their protection from dirtying for the purpose of prolonging their life cycle, is quite high. Their production and further retention of quality in circulation was very expensive, as their average duration in circulation was 6 months. For the purpose of minimizing of costs and improvement of the quality of currency in circulation, in 2006, the NBG, taking the account of international practice, made a decision to introduce the coins in denominations of 1 and 2 Laris into circulation. Once these coins successfully replaced the banknotes in the same denomination, the banknotes in denominations of 1 and 2 Laris have not been produced anymore and they are being withdrawn from circulation in accordance with their natural deterioration, for which reason the quantity of these banknotes in circulation has decreased.