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The Turkish lira
Turkish lira
(Turkish: Türk lirası; sign: ₺; code: TRY; usually abbreviated as TL)[2] is the currency of Turkey
Turkey
and the self-declared Turkish Republic of Northern Cyprus. The Turkish lira
Turkish lira
is subdivided into 100 kuruş.

Contents

1 History

1.1 Ottoman lira
Ottoman lira
(1844–1923) 1.2 First Turkish lira
Turkish lira
(1923–2005)

1.2.1 Exchange rates

1.3 Second Turkish lira
Turkish lira
(2005–present)

2 Coins 3 Banknotes 4 Exchange rates 5 Currency
Currency
sign 6 See also 7 References 8 Further reading 9 External links

History[edit] Ottoman lira
Ottoman lira
(1844–1923)[edit] Main article: Ottoman lira The lira, along with the related currencies of Europe and the Middle East, has its roots in the ancient Roman unit of weight known as the libra which referred to the Troy pound of silver. The Roman libra adoption of the currency spread it throughout Europe and the Near East, where it continued to be used into medieval times. The Turkish lira, the French livre
French livre
(until 1794), the Italian lira
Italian lira
(until 2002), and the British pound
British pound
(a translated version of the Roman libra; the word "pound" as a unit of weight is still abbreviated as "lb.") are the modern descendants of the ancient currency. The Ottoman lira
Ottoman lira
was introduced as the main unit of currency in 1844, with the former currency, kuruş, remaining as a ​1⁄100 subdivision. The Ottoman lira
Ottoman lira
remained in circulation until the end of 1927.[3] First Turkish lira
Turkish lira
(1923–2005)[edit]

Both Livre Turque (in French) and تورك لیراسی (in Ottoman Turkish) phrases used on first-issue banknotes.

Historical banknotes from the second, third and fourth issues have portraits of İsmet İnönü
İsmet İnönü
on the obverse side. This change was done according to the 12 January 1926 issue of the official gazette[4][5] and canceled by the Democrat Party after World War II. Exchange rates[edit] After periods of the lira pegged to the British pound
British pound
and the French franc, a peg of 2.8 Turkish lira
Turkish lira
= 1 U.S. dollar was adopted in 1946 and maintained until 1960, when the currency was devalued to 9 Turkish lira = 1 dollar. From 1970, a series of hard, then soft pegs to the dollar operated as the value of the Turkish lira
Turkish lira
began to fall.

1966 – 1 U.S. dollar = 9 Turkish lira 1980 – 1 U.S. dollar = 90 Turkish lira 1988 – 1 U.S. dollar = 1,300 Turkish lira 1995 – 1 U.S. dollar = 45,000 Turkish lira 2001 – 1 U.S. dollar = 1,650,000 Turkish lira

The Guinness Book of Records
Guinness Book of Records
ranked the Turkish lira
Turkish lira
as the world's least valuable currency in 1995 and 1996, and again from 1999 to 2004. The Turkish lira
Turkish lira
had slid in value so far that one original gold lira coin could be sold for 154,400,000 Turkish lira
Turkish lira
before the 2005 revaluation. Second Turkish lira
Turkish lira
(2005–present)[edit] In December 2003, the Grand National Assembly of Turkey
Turkey
passed a law that allowed for redenomination by the removal of six zeros from the Turkish lira, and the creation of a new currency. It was introduced on 1 January 2005, replacing the previous Turkish lira
Turkish lira
(which remained valid in circulation until the end of 2005) at a rate of 1 second Turkish lira
Turkish lira
( ISO 4217
ISO 4217
code "TRY") = 1,000,000 first Turkish lira
Turkish lira
(ISO 4217 code "TRL"). With the revaluation of the Turkish lira, the Romanian leu
Romanian leu
(also revalued in July 2005) briefly became the world's least valued currency unit. At the same time, the Government introduced two new banknotes called TRY100 and TRY50. In the transition period between January 2005 and December 2008, the second Turkish lira
Turkish lira
was officially called Yeni Türk Lirası (New Turkish lira).[6] It was officially abbreviated "YTL" and subdivided into 100 new kuruş (yeni kuruş). Starting in January 2009, the "new" marking was removed from the second Turkish lira, its official name becoming just "Turkish lira" again, abbreviated "TL". All obverse sides of current banknotes have portraits of Mustafa Kemal Atatürk. Until 2016, the same held for the reverse sides of all current coins, but in 2016 one-lira coins were issued to commemorate the "martyrs and veterans" of the 2016 Turkish coup d'état attempt, the reverse sides of some of which depict hands holding up a Turkish flag
Turkish flag
while others show in stylized form a collection of five-pointed stars topped by a Turkish flag.[7] Coins[edit] Main article: Coins of Turkey From 1 January 2009, the phrase "new" was removed from the second Turkish lira, its official name in Turkey
Turkey
becoming just "Turkish lira" again;[8] new coins without the word "yeni" were introduced in denominations of 1, 5, 10, 25, 50 kuruş and 1 Turkish lira. Also, the center and ring alloys of the 50 kuruş and 1 Turkish lira
Turkish lira
coins were reversed.

Current Turkish lira
Turkish lira
coins [1]

Image Value (kuruş) Technical parameters Description Date of

Obverse Reverse Diameter (mm) Thickness (mm) Mass (g) Composition Edge Obverse Reverse first minting issue

1 16.5 1.35 2.2

70% Cu, 30% Zn Plain Value, Crescent-star, year of minting Snowdrop "TÜRKİYE CUMHURİYETİ", Mustafa Kemal Atatürk 2008 1 January 2009

5 17.5 1.65 2.9 65% Cu, 18% Ni, 17% Zn Tree of life

10 18.5 3.15 Rumi
Rumi
motif

25 20.5 4 Reeded Kufic
Kufic
calligraphic

50 23.85 1.9 6.8 Ring: 65% Cu, 18% Ni, 17% Zn Center: 79% Cu, 17% Zn, 4% Ni Large reeded Bosphorus Bridge
Bosphorus Bridge
and Istanbul
Istanbul
silhouette

100 (₺1) 26.15 8.2 Ring: 79% Cu, 17% Zn, 4% Ni Center: 65% Cu, 18% Ni, 17% Zn inscribed, T.C. letters and tulip figure Rumi
Rumi
motif

These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Banknotes[edit] Main article: Banknotes of Turkey A new series of banknotes, the "E-9 Emission Group" entered circulation on 1 January 2009, with the E-8 group ceasing to be valid after 31 December 2009 (although still redeemable at branches of the Central Bank until 31 December 2019). The E-9 banknotes refer to the currency as "Turkish lira" rather than "new Turkish lira" and include a new 200-Turkish-lira denomination.[9] The new banknotes have different sizes to prevent forgery.[10] The main specificity of this new series is that each denomination depicts a famous Turkish personality, rather than geographical sites and architectural features of Turkey.[11] The dominant color of the 5-Turkish-lira banknote has been determined as "purple" on the second series of the current banknotes.[12]

Current Turkish lira
Turkish lira
banknotes [2]

Image Value (₺) Dimensions (mm) Main Colour Description Date of issue

Obverse Reverse Obverse Reverse Watermark

5 130 × 64

Brown Mustafa Kemal Atatürk Aydın Sayılı: solar system, atom, ancient cave, left-handed Z-DNA
Z-DNA
helix. Mustafa Kemal Atatürk, Value 1 January 2009

Purple 8 April 2013

10 136 × 64

Red Cahit Arf: Arf invariant, arithmetic series, abacus, binary sequence 1 January 2009

20 142 × 68

Green Architect Kemaleddin: Gazi University
Gazi University
main building, aqueduct, circular motif and cube-globe-cylinder symbolizing architecture

50 148 × 68

Orange Fatma Aliye Topuz: flower and literary figures

100 154 × 72

Blue Buhurizade Itri: musical notes, instruments and Mevlevi figure

200 160 × 72

Violet Yunus Emre: Yunus's mausoleum, rose, pigeon and the line "Sevelim, sevilelim" (Let us love, let us be loved)

These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

Exchange rates[edit]

Most traded currencies by value Currency
Currency
distribution of global foreign exchange market turnover[13]

Rank Currency ISO 4217
ISO 4217
code (symbol) % daily share (April 2016)

1

 United States dollar

USD ($)

87.6%

2

 Euro

EUR (€)

31.4%

3

 Japanese yen

JPY (¥)

21.6%

4

 Pound sterling

GBP (£)

12.8%

5

 Australian dollar

AUD (A$)

6.9%

6

 Canadian dollar

CAD (C$)

5.1%

7

 Swiss franc

CHF (Fr)

4.8%

8

 Renminbi

CNY (元)

4.0%

9

 Swedish krona

SEK (kr)

2.2%

10

 New Zealand dollar

NZD (NZ$)

2.1%

11

 Mexican peso

MXN ($)

1.9%

12

 Singapore dollar

SGD (S$)

1.8%

13

 Hong Kong dollar

HKD (HK$)

1.7%

14

Norwegian krone

NOK (kr)

1.7%

15

South Korean won

KRW (₩)

1.7%

16

 Turkish lira

TRY (₺)

1.4%

17

 Russian ruble

RUB (₽)

1.1%

18

Indian rupee

INR (₹)

1.1%

19

Brazilian real

BRL (R$)

1.0%

20

South African rand

ZAR (R)

1.0%

Other 7.1%

Total[14] 200.0%

Turkish Lira
Lira
exchange rates became more stable after 2004. In the following years, the yearly average exchange rate of the lira was as follows:

2005 – 1 U.S. dollar = 1.29 new Turkish lira
Turkish lira
(The use of New Turkish lira, which drops 6 zeros from the currency Turkish lira, was implemented in 2005) 2010 – 1 U.S. dollar = 1.55 Turkish lira 2012 – 1 U.S. dollar = 1.80 Turkish lira
Turkish lira
(average) 2014 – 1 U.S. dollar = 2.09 Turkish lira
Turkish lira
(average) 2015 – 1 U.S. dollar = 2.62 Turkish lira
Turkish lira
(average) 2015 (late September) – 1 U.S. dollar = 3.00 Turkish lira
Turkish lira
(average) 2015 (November) – 1 U.S. dollar = 2.85 Turkish lira
Turkish lira
(average) 2016 (November) – 1.U.S. dollar = 3.29 Turkish lira
Turkish lira
(average) 2017 (September)– 1.U.S. dollar = 3.42 Turkish lira
Turkish lira
(average)

Exchange rate evolution compared to USD, EUR, JPY, GBP and TRY

  January 2005 : ₺100 = $74 April 2012 : ₺100 = $57

  January 2005 : ₺100 = €55 / April 2012 : ₺100 = €43

  January 2005 : ₺1 = ¥76 / April 2012 : ₺1 = ¥46

  January 2005 : ₺100 = £39 / April 2012 : ₺100 = £35

  January 2005 : ₺1000 = 6.45 Turkish Lira
Lira
/ April 2012 : ₺1000 = 1.55 Turkish Lira

Currency
Currency
sign[edit]

Turkish lira
Turkish lira
sign 

Design limits[15] 

Main article: Turkish lira
Turkish lira
sign The current currency sign of Turkish lira
Turkish lira
was created by the Central Bank of the Republic of Turkey
Turkey
in 2012. The new sign was selected after a country-wide contest.[16] The new symbol, created by Tülay Lale, is composed of the letter 'L' shaped like a half anchor, and embedded double-striped letter 'T' angled at 20 degrees. Prime Minister Recep Tayyip Erdoğan
Recep Tayyip Erdoğan
announced the new symbol on 1 March 2012.[17] At its unveiling, Erdoğan explained the design as "the anchor shape hopes to convey that the currency is a 'safe harbor' while the upward-facing lines represent its rising prestige".[18] In May 2012, the Unicode Technical Committee
Unicode Technical Committee
accepted the encoding of a new character U+20BA ₺ Turkish lira sign
Turkish lira sign
for the currency sign,[19] which was included in Unicode 6.2 released in September 2012.[20] See also[edit]

Economy of Turkey Economy of the Turkish Republic of Northern Cyprus Banknotes of Turkey Coins of Turkey Turkish lira
Turkish lira
sign Ottoman lira

Current TRY exchange rates

From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD RUB AZN

From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD RUB AZN

From XE: AUD CAD CHF EUR GBP HKD JPY USD RUB AZN

From OANDA: AUD CAD CHF EUR GBP HKD JPY USD RUB AZN

From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD RUB AZN

References[edit]

^ "Turkish Lira
Lira
Sign". Central Bank of the Republic of Turkey. Archived from the original on 13 December 2012. Retrieved 30 May 2013.  ^ International Organization for Standardization. " Currency
Currency
codes – ISO 4217". ISO. Retrieved 8 February 2013.  ^ "History of Paper Money". Central Bank of the Republic of Turkey. Retrieved 8 February 2013.  ^ "701 Mevcûd Evrâk-ı Nakdiyyenin Yenileriyle İstibdâline Dâir Kânun" (PDF). Prime Ministry. Retrieved 8 February 2013.  ^ "Elyevm mevkii tedavülde bulunan evrakı nakdiye yerine, aynı evsafı kanuniyeyi haiz olmak ve aynı miktarda bulunmak üzere yeni evrakı nakdiye ihracı hakkında (1/750) numaralı kanun lâyihası ve Kavanin ve Muvazenei Maliye Encümenleri mazbataları" (PDF). Grand National Assembly of Turkey. Retrieved 8 February 2013.  ^ Official Gazette of the Republic of Turkey. "Law on the Currency
Currency
of the Republic of Turkey".  ^ "15 Temmuz şehit ve gazileri için hatıra para" [Commemorative money for martyrs and veterans of 15 July]. NTV. 31 October 2016. Retrieved 17 August 2017.  ^ "Public Announcement As to the Removal of the Prefix "New" From The New Turkish Lira".  ^ Türkiye Cumhuriyet Merkez Bankasi (Central Bank of the Republic of Turkey) (8 May 2007). "Public Announcement As to the Removal of the Prefix "New" From The New Turkish Lira". Official Gazette. TCMB. p. 103. Retrieved 5 January 2008.  ^ "TL banknotes to be in circulation in 2009". Turkish Daily News. 15 September 2006. Archived from the original on 30 September 2007. Retrieved 28 September 2006.  ^ "Türk Lirası'nda yeni yüzler". NTV-MSNBC (in Turkish). Anadolu Agency. 3 October 2008. Retrieved 22 March 2012.  ^ Türkiye Cumhuriyet Merkez Bankasi (Central Bank of the Republic of Turkey) (2 April 2013). "Press Release on the Issue of E-9 Emission Group II. Series Turkish Lira
Lira
Banknotes". TCMB. Retrieved 4 September 2013.  ^ "Triennial Central Bank Survey Foreign exchange turnover in April 2016" (PDF). Triennial Central Bank Survey. Basel, Switzerland: Bank for International Settlements. 11 December 2016. p. 7. Retrieved 22 March 2017.  ^ The total sum is 200% because each currency trade always involves a currency pair. ^ "TLSimge". Central Bank of the Republic of Turkey. Archived from the original on 24 February 2013. Retrieved 31 January 2013.  ^ ""TL SİMGE YARIŞMASI" ŞARTNAMESİ" (PDF) (in Turkish). Türkiye Cumhuriyeti Merkez Bankası. October 2011. Retrieved 9 September 2011.  ^ "PM Erdoğan announces symbol for Turkish lira", TodaysZaman.com, 1 March 2012 ^ " Turkey
Turkey
unveils symbol for national currency", TodaysZaman.com, 1 March 2012 ^ "Unicode 6.2 to Support the Turkish Lira
Lira
Sign from announcements_at_unicode.org on 15 May 2012 (Unicode Mail List Archive)". Unicode.org. 15 May 2012. Retrieved 31 January 2013.  ^ "Unicode 6.2.0". The Unicode Consortium. 23 October 2012. 

Further reading[edit]

Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.  Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.  Sevket Pamuk (2000). A Monetary History of the Ottoman Empire. Cambridge University Press. ISBN 0-521-44197-8. 

External links[edit]

Wikimedia Commons has media related to Money of Turkey.

Turkish Central Bank (Banknote Museum page) Turkish State Mint Turkish lira
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official changeover Campaign Detailed information on the Turkish lira
Turkish lira
banknotes and coins in circulation since 2009 Turk Numismatics Turkish Lira
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؋ ฿ ₵ ₡ ¢

$ ₫ ֏ € ƒ ₲ ₴ ₾ ₭ ₺ ₼ ₦ ₱ £ 元 圆 圓 ﷼ ៛ ₽ ₹ ૱ ௹ ꠸ ₨ ₪ ৳ ₸ ₮ ₩ ¥ 円

Historic

₳ ₢ ₰ ₯ ₠ ₣ ₤ ₶ ℛℳ ℳ ₧

𐆚 𐆖 𐆙 𐆗 𐆘

Uncirculated

.