Turkey Currency: A Comprehensive Guide

The Turkish Lira is the official currency of Turkey, and it's widely used throughout the country. It's denoted by the symbol "TRY" and is divided into 100 subunits called "kurus".

You can exchange your money for Turkish Lira at banks, currency exchange offices, or some hotels. Be sure to check the current exchange rate before making a transaction.

The Turkish Central Bank is responsible for managing the country's monetary policy and issuing new banknotes. The banknotes come in denominations of 5, 10, 20, 50, and 100 Turkish Lira.

In Turkey, you can use credit cards at many businesses, especially in tourist areas and major cities. However, it's always a good idea to have some cash on hand, especially when visiting smaller towns or rural areas.

The Ottoman lira was introduced in 1844 and remained in circulation until the end of 1927.

The first Turkish lira was introduced in 1923 and was pegged to the sterling and franc until 1946, when it was pegged to the US dollar at a rate of TL 2.8 = US$1. The value of the Turkish lira fluctuated greatly over the years, with notable devaluations in 1960, 1970, 1980, 1985, 1990, 1995, 2000, and 2001.

The Turkish lira's value fell so far that one original gold lira coin could be sold for TL 154,400,000 before the 2005 revaluation. The Guinness Book of Records ranked the Turkish lira as the world's least valuable currency in 1995 and 1996, and again from 1999 to 2004.

Here's a list of the Turkish lira's value against the US dollar over the years:

The second Turkish lira was introduced in 2005, replacing the previous Turkish lira at a rate of YTL 1 = TL 1,000,000. This move removed six zeros from the Turkish lira and created a new currency.

The Ottoman lira was introduced as the main unit of account in 1844. It replaced the kuruş as the primary currency, although the kuruş remained as a 1⁄100 subdivision.

The Ottoman lira remained in circulation until the end of 1927.

The second Turkish lira was introduced in 2005, replacing the old currency at a rate of 1 new lira = 1,000,000 old lira. This change was made to combat inflation and stabilize the economy.

The Grand National Assembly of Turkey passed a law in 2004 allowing for the removal of six zeros from the Turkish lira, creating a new currency. This law was enacted to rescue the Turkish Lira from inflation.

The second Turkish lira was officially called Yeni Türk lirası, or "New Turkish lira", until 2009. The "new" marking was removed, and the official name became simply "Turkish lira" again.

The first banknotes of the second Turkish lira had denominations of ₺50 and ₺100. These were introduced in 2005, along with the revaluation of the Turkish Lira.

The second Turkish lira is subdivided into 100 new kuruş, or "yeni kuruş." This change was made to simplify transactions and reduce confusion.

The obverse sides of all current banknotes have portraits of Mustafa Kemal Atatürk. The reverse sides of all coins, except for ₺1 commemorative coins, also feature his portrait.

Here's a list of the denominations of the current Turkish lira banknotes:

The official currency in Türkiye is the Turkish lira, which is issued by the Central Bank of the Republic of Türkiye. Its local name is Türk lirası, and its symbol is “₺”. The Turkish lira is divided into 100 kuruş, or piastres.

The Turkish lira was replaced by the New Turkish Lira from 2005 to 2009 to fight inflation. However, the New Turkish Lira is no longer accepted as a means of payment in the country.

Here are some key facts about the Turkish lira:

The Turkish lira is the historical currency of Türkiye, and it's still widely used today.

The Old Turkish Lira was replaced by the New Turkish Lira in 2005 to fight inflation. This change was a significant one, as it introduced a new currency with a much higher value.

Old notes, printed before 2005, are no longer accepted as a means of payment in Türkiye. This is because the New Turkish Lira had an exchange rate of 1 to 1 million, making the old currency essentially worthless.

If you're traveling to Türkiye, be aware that notes older than 2005 are usually not accepted. This means you'll need to use the new currency, which has denominations of 5, 10, 20, 50, 100, and 200 lira.

Here's a quick rundown of the old Turkish Lira's characteristics:

To avoid any issues, make sure to use the correct currency when shopping or collecting change. This will help you avoid any confusion or problems with the locals.

Old Turkish Lira notes are usually not accepted, having been replaced by the new currency in 2005. This is a crucial fact to keep in mind when traveling to Türkiye.

The old lira was replaced at a rate of 1 new lira = 1,000,000 old lira. This means that any notes older than 2005 are essentially worthless.

To avoid any confusion or trouble, make sure to use the current banknotes with denominations of 5, 10, 20, 50, 100, and 200 lira. These are the only notes that are widely accepted.

Here are the denominations of the current Turkish lira banknotes:

Remember, it's always a good idea to be mindful of your surroundings and keep your valuables secure, especially in crowded areas.

The Turkish currency consists of both coins and banknotes.

The Turkish coins range from 1 kuruş to 1 Turkish lira, with denominations including 1, 5, 10, 25, and 50 kuruş, and 1 Turkish lira.

You can find the different Turkish banknotes in denominations of 5, 10, 20, 50, 100, and 200 Turkish lira.

Here are the current Turkish lira coins and their values in kuruş:

The Turkish currency, also known as the Turkish lira, has a variety of coins that are widely accepted. The coins range in value from 1 kuruş to 1 lira.

The Turkish lira coins have undergone changes over the years, with the introduction of new coins in 2009. The new coins include 1kr., 5kr., 10kr., 25kr., 50kr., and ₺1.

Each of the coins has its own unique features, such as the materials used in their composition and the designs on the obverse and reverse sides. For example, the 1kr. coin is made of 70% copper and 30% zinc, and features a snowdrop on the reverse side.

Here's a breakdown of the current Turkish lira coins:

In addition to these coins, the Turkish State Mint has introduced commemorative coins in circulation since 2012. These coins have been issued to commemorate various events and anniversaries, such as the 150th anniversary of the Court of Accounts and the 100th anniversary of the Grand National Assembly of Turkey.

The commemorative coins are a unique way to mark important events in Turkish history and culture, and are a great addition to the country's currency.

The Turkish lira has had its fair share of currency signs over the years.

The original symbol of the Ottoman lira was LT, standing for "Livre Turque" in French.

Historically, English language sources used "£T" or "T£" for the currency, but it's unknown if this notation was ever used within Turkey.

In 2012, the Central Bank of the Republic of Turkey created a new currency sign through a country-wide contest.

The winning design, created by Tülay Lale, is a unique symbol composed of a half anchor shape with double stroke.

The new symbol was chosen from a shortlist of seven submissions, selected from a total of 8,362 entries.

The design was endorsed by Prime Minister Recep Tayyip Erdoğan, who announced the new symbol on 1 March 2012.

The anchor shape is meant to convey that the currency is a "safe harbour", while the upward-facing lines represent its rising prestige.

The new Turkish lira sign was criticized for allegedly showing a similarity with an upside-down Armenian dram sign.

In May 2012, the Unicode Technical Committee accepted the encoding of a new character U+20BA₺TURKISH LIRA SIGN for the currency sign.

The new symbol was included in Unicode 6.2, released in September 2012.

On Microsoft Windows operating systems, the Turkish lira sign can be typed using the combination AltGr+T when using Turkish-Q or Turkish-F keyboard layouts.

In some tourist areas, you might find establishments that accept US dollars or euros as payment. Euros are widely used by merchants and are commonly known to locals in western Turkey.

While USD is mostly accepted in tourist attractions and luxury brands, it's not a good idea to rely on these currencies for most of your purchases in Turkey.

Euros are more widely accepted than USD, but it's still essential to ask if a particular establishment accepts these currencies before making a payment. To avoid monetary losses, use the Turkish currency for most of your purchases.