TRY – Turkish Lira
Sign – ₺ / Code – TRY
Long before our corporate currency exchange brokers were helping our clients with their Turkish Lira transfers, the Lira was creating its own rich history.
About the Turkish Lira
The Lira originally circulated under the Ottoman Empire in 1467 and would continue to do so until 1927. The Ottoman Lira was conceived after the final parts of the Roman Empire collapsed and Constantinople fell to the Ottomans. The first coin minted was called “The Conqueror” after the ruler at the time, Mehmed II.
The Lira has been ranked the world’s least valuable currency twice by the Guinness Book of Records – during 1995-1996 and 1999-2004. The currency had depreciated so much than an original gold lira coin could be bought for 154, 400, 000 old Lira. In attempts to bolster its value, the Turkish Lira has been pegged to numerous currencies, including the French Franc, British Pound and US Dollar.
In an attempt to combat the continual decrease in value, the new Lira was brought in in 2005, with a re-denomination made in order to get rid of its six zero value.
Subunit: Kuruş – 1/100
Coins: 5kr, 10kr, 25kr, 50kr, ₺1
Banknotes: ₺5, ₺10, ₺20, ₺50, ₺100, ₺200