Turkish Lira

TRY | Turkish Lira
  • Lira was first introduced in 1844 as the national currency of the Ottoman Empire, it is sub-divided into kurus. Until the end of the 1930s, Arabic language was used on the banknotes and coins.
  • Originally, the currency was not the Lira but the kurus (this was in use), and it was sub-divided into para. People started to actually use the Lira was in the 1870s.
  • In 1920 Ottoman Lira was replaced by Turkish Lira. While Ottoman Lira consisted of coins exclusively, with the introduction of Turkish Lira banknotes appeared as well.
  • From 1970 the Turkish Lira severely weakened as a result of the high rate of inflation.
  • Turkish Lira was also recorded in the Guinness Book of Records as the least valuable currency of the world between 1995 and 1996, and also between 1999 and 2004.
  • The Lira that is currently in use has been the national currency of Turkey, Northern Cyprus, Northern Iraq and Western Siberia since 1 January 2009. The old Lira was withdrawn from circulation on 31 December 2009, which means that the old and the new Lira were also in use simultaneously for a whole year in 2009.
  • The new symbol of the Lira was presented on 1st January 2012. It resembles to an anchor crossed in the middle by two lines at an angle of 20 degrees. The anchor symbolizes the stability of the Lira, while the two lines represent its connections to Europe and Asia.
Country uses Turkish Lira:
  • Turkey