The Best Way to Transfer Money Between Ruble and Lari Accounts

Ruble Lari: What You Need to Know About the Currency Exchange Between Russia and Georgia

If you are planning to travel, invest, or do business in Russia or Georgia, you might want to know more about ruble lari, the currency exchange rate between these two countries. Ruble lari is not a separate currency, but a term that refers to how many Georgian lari (GEL) you can get for one Russian ruble (RUB), or vice versa. The value of ruble lari fluctuates depending on various factors, such as supply and demand, inflation, interest rates, political stability, and trade balance.

ruble lari

One easy way to check the live exchange rate of ruble lari is to use Bing's free currency converter. You can type in any amount of rubles or lari, and Bing will show you how much it is worth in the other currency. You can also see a chart that shows how the exchange rate has changed over time. Bing uses the mid-market rate for its converter, which is the average of the buy and sell rates offered by banks and brokers. This is for informational purposes only, as you might not receive this rate when sending or receiving money.

Historical Background of Georgia-Russia Relations

Georgia and Russia have a long and complicated history that dates back hundreds of years. Despite their shared cultural and religious ties, they have also been rivals and enemies on many occasions. Here are some key events that shaped their relations:

• In 1783, King Heraclius II of Eastern Georgia signed the Treaty of Georgievsk with the Russian Empire, hoping to gain protection from Persian invasions. However, Russia failed to defend Georgia when Persia attacked in 1795.

• In 1801, Tsar Alexander I of Russia annexed Georgia to the Russian Empire without Georgian consent. Georgia lost its sovereignty and autonomy for over a century.

• In 1918, after the Russian Revolution, Georgia declared its independence and established a democratic republic. However, in 1921, Bolshevik Russia invaded and occupied Georgia again, making it part of the Soviet Union.

• In 1991, following the collapse of the Soviet Union, Georgia regained its independence and adopted a pro-Western foreign policy. It applied for membership in the European Union and NATO, angering Russia.

• In 2008, Russia launched a military intervention in Georgia, supporting separatist regions of Abkhazia and South Ossetia. The war resulted in hundreds of casualties, thousands of displaced people, and the recognition of Abkhazia and South Ossetia as independent states by Russia.

In 2009, diplomatic relations between Georgia and Russia were severed. The two countries have maintained no formal diplomatic contacts since then. They communicate through Swiss mediators or informal channels.</li Current Situation of Georgia-Russia Trade and Economy

Despite the political and military conflicts, Georgia and Russia still maintain some level of trade and economic cooperation. Here are some facts and figures about their current situation:

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Georgia's exports to Russia

Russia's exports to Georgia

- Mainly agricultural products, such as wine, mineral water, nuts, fruits, and vegetables.- Also minerals, metals, textiles, and chemicals.- Total value of $362.8 million in 2020, accounting for 9.3% of Georgia's total exports.

- Mainly oil, gas, and electricity.- Also machinery, vehicles, wood, and pharmaceuticals.- Total value of $509.4 million in 2020, accounting for 12.9% of Georgia's total imports.

Some trends and challenges that affect the trade and economy between Georgia and Russia are:

• Trade volume has increased since 2013, when Russia lifted its ban on Georgian wine and mineral water that was imposed in 2006. However, it remains low compared to other trade partners, such as Turkey, China, and the EU.

• Georgia faces risks from Russian sanctions, border closures, and political pressure. For example, in 2019, Russia banned direct flights between the two countries, affecting tourism and remittances. In 2020, Russia closed its land border with Georgia due to the COVID-19 pandemic.

• Georgia seeks to diversify its markets and join the European Union. In 2014, Georgia signed an Association Agreement with the EU, which includes a Deep and Comprehensive Free Trade Area (DCFTA). This gives Georgia preferential access to the EU market and encourages reforms in various sectors.

Conclusion

Ruble lari is a term that reflects the currency exchange rate between Russia and Georgia. It is influenced by many factors, such as historical events, political tensions, trade flows, and economic conditions. Ruble lari is not only a matter of numbers, but also a symbol of the complex and dynamic relationship between these two neighboring countries.

If you are interested in ruble lari, here are some recommendations for you:

• If you are a traveler, you can use Bing's currency converter to check the latest exchange rate before you go. You can also compare the prices of goods and services in both countries using Bing's price comparison tool.

• If you are an investor, you can use Bing's stock market tracker to monitor the performance of companies and industries in both countries. You can also use Bing's news aggregator to stay updated on the political and economic developments that might affect ruble lari.

• If you are a business owner, you can use Bing's business directory to find potential partners and customers in both countries. You can also use Bing's translation service to communicate with them in their native languages.

FAQs

What is the symbol for ruble lari?

There is no official symbol for ruble lari. However, some people use the abbreviation RUB/GEL or simply R/G to denote the exchange rate between Russian ruble and Georgian lari.

What is the exchange rate between ruble lari and US dollar?

As of June 20, 2023, one US dollar (USD) is equal to 73.42 Russian rubles (RUB) or 3.32 Georgian lari (GEL). Therefore, one ruble lari (RUB/GEL) is equal to 0.045 US dollars (USD/RUB/GEL).

What are the best ways to send money between Russia and Georgia?

There are different options for sending money between Russia and Georgia, such as bank transfers, money transfer services, online platforms, or cash delivery. The best way depends on factors such as speed, cost, convenience, security, and availability. You can use Bing's money transfer comparison tool to find the best option for your needs.

What are the main risks and opportunities for ruble lari in the future?

The main risks for ruble lari in the future are related to the political instability and uncertainty in both countries. For example, if there is a new escalation of conflict or sanctions between them, it could negatively affect trade and investment flows and weaken ruble lari. On the other hand, the main opportunities for ruble lari in the future are related to the economic potential and integration and cooperation in the region. For example, if there is a breakthrough in the peace process or trade agreements between them, it could positively affect economic growth and development and strengthen ruble lari.

Where can I find more information about ruble lari?

If you want to learn more about ruble lari, you can use Bing's search engine to find various sources of information, such as websites, blogs, podcasts, videos, books, and more. You can also use Bing's social media tracker to follow the latest trends and opinions about ruble lari on platforms such as Twitter, Facebook, Instagram, and Reddit.