Turkish lira: Wikis

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Turkish lira
Türk lirası (Turkish)
1 Turkish lira
1 Turkish lira
ISO 4217 Code TRY
User(s)  Turkey
Northern Cyprus Northern Cyprus
Inflation 5.24% (Turkey, May 2009)
Source [1] NTVMSNBC
Subunit
1/100 kuruş
Symbol TL
Coins
Freq. used 5, 10, 25, 50 Kr , 1TL
Rarely used 1 Kr
Banknotes
Freq. used 5TL, 10TL, 20TL, 50TL
Rarely used 100TL, 200TL
Central bank Central Bank of the Republic of Turkey
Website www.tcmb.gov.tr
Printer CBRT Banknote Printer
Website www.tcmb.gov.tr

The Turkish lira (Turkish: Türk lirası) is the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus. The lira is subdivided into 100 kuruş. The symbol is TL and the ISO 4217 code is TRY.[1]

Contents

History

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First lira

The lira was introduced in 1844. It replaced the kuruş as the principal unit of currency, with the kuruş continuing to circulate as a subdivision of the lira, with 100 kuruş = 1 lira. The para also continued to be used, with 40 para = 1 kuruş. Until the 1930s, the Arabic script was used on Turkish coins and banknotes, with پاره for para, غروش for kuruş and ليرا for lira (تورك ليراسي for "Turkish lira"). In European languages, the kuruş was known as the piastre, whilst the lira was known as the livre in French.

Between 1844 and 1881, the lira was on a bimetallic standard, with 1 lira = 6.61519 grams pure gold = 99.8292 grams pure silver. In 1881, the gold standard was adopted and continued until 1914. World War I saw Turkey effectively depart from the gold standard with the gold lira being worth about nine lira in paper money by the early 1920s.

After periods pegged to the British pound and the French franc, a peg of 2.8 lira = 1 U.S. dollar was adopted in 1946 and maintained until 1960, when the currency was devalued to 9 lira = 1 dollar. From 1970, a series of hard, then soft pegs to the dollar operated as the value of the lira began to fall.

Because of the chronic inflation experienced in Turkey from the 1970s through to the 1990s, the lira experienced severe depreciation in value. Turkey has had high inflation rates compared to developed countries but has never suffered hyperinflation. From an average of 9 lira per U.S. dollar in the late 1960s, the currency came to trade at approximately 1.65 million lira per U.S. dollar in late 2001. This represented an average inflation of about 38% per year.

  • 1966 — 1 U.S. dollar = 9 lira
  • 1980 — 1 U.S. dollar = 90 lira
  • 1988 — 1 U.S. dollar = 1,300 lira
  • 1995 — 1 U.S. dollar = 45,000 lira
  • 1996 — 1 U.S. dollar = 107,000 lira
  • 2001 — 1 U.S. dollar = 1,650,000 lira
  • 2004 — 1 U.S. dollar = 1,350,000 lira
  • 2007 — 1 U.S. dollar = 1.26 new lira (The use of New Turkish Lira, which drops 6 zeros from the currency-Turkish Lira-, is implemented in 2005. Turkish Lira and New Turkish Lira were used together in 2005. After 2009, New Lira was converted to Lira, but New Lira used as currency until 31 December 2009)
  • 2008 — 1 U.S. dollar = 1.55 Lira
  • 2009 — 1 U.S. dollar = 1.48 Lira
  • 2010 — 1 U.S. dollar = 1.51 Lira (Last updated on February 16th, 2010)

In its last few years the Turkish lira stabilized and even rose against the U.S. dollar and the euro. The Guinness Book of Records ranked the lira as the world's least valuable currency in 1995 and 1996, and again in 1999 through 2004. The lira had slid in value to such an extent that one original gold lira coin could be sold for approximately 120,000,000 lira prior to the 2005 revaluation.

Second lira

In late December 2003, the Grand National Assembly of Turkey passed a law that allowed for the removal of six zeroes from the lira, and the creation of a new currency. It was introduced on 1 January 2005, replacing the previous lira (which remained valid in circulation until the end of 2005) at a rate of 1 second lira (ISO 4217 code "TRY") = 1,000,000 first lira (ISO 4217 code "TRL"). With the revaluation of the Turkish lira, the Romanian leu (also revalued in July 2005) briefly became the world's least valued currency unit.

In the transitional period between 1 January 2005 and 31 December 2008, the second lira was officially called Yeni Türk Lirası (New Turkish lira).[2] It was officially abbreviated "YTL" and subdivided into 100 new kuruş (yeni kuruş). With effect from 1 January 2009, the "new" was removed from the second lira, its official name becoming just "lira" again, abbreviated "TL".

Coins

First lira

40 para coin (1918)

Between 1844 and 1855, coins were introduced in denominations of 1, 5, 10, 20 and 40 para, ½, 1, 2, 5, 10, 20 kuruş, ¼, ½, 1, 2½ and 5 lira. The para denominations were struck in copper, the kuruş in silver and the lira in gold. The 1 para was discontinued in 1859, with the higher copper denominations ceasing production between 1863 and 1879. In 1899, billon 5 and 10 para were introduced, followed by nickel 5, 10, 20 and 40 kuruş in 1910. The silver and gold coinages ceased production as a consequence of the First World War.

In 1922 and 1923, a new coinage was introduced consisting of aluminium-bronze 100 para, 5 and 10 kuruş and nickel 25 kuruş. These were the last Turkish coins to bear inscriptions in the Arabic script.

In 1934, silver 100 kuruş coins were struck, followed the next year by a new coinage consisting of cupro-nickel 1, 5 and 10 kuruş, and silver 25 and 50 kuruş and 1 lira. Aluminium-bronze 10 para coins were issued between 1940 and 1942, the last coins to bear this denomination. Nickel-brass replaced silver in the 25 kuruş in 1944, with brass 1, 2½, 5, 10 and 25 kuruş introduced between 1947 and 1949. The silver 50 kuruş and 1 lira were discontinued in 1948, with cupro-nickel 1 lira issued in 1957.

Between 1958 and 1963, bronze 1, 5 and 10 kuruş and steel 25 kuruş, 1 and 2½ lira were introduced, followed by steel 50 kuruş and 5 lira in 1971 and 1974, respectively. Aluminium replaced bronze in 1975. These coins were issued up to 1980.

In 1981, with inflation gaining pace, aluminium 1, 5 and 10 lira coins were introduced. Higher denominations followed: 20, 50 and 100 lira in 1984, 25 lira in 1985, 500 lira in 1988, 1000 lira in 1990, 2500 lira in 1991, 5000 lira in 1992, 10,000 lira in 1994, 25,000 lira in 1995, 50,000 and 100,000 lira in 1999, and 250,000 lira in 2002.

Second lira

2005–2008

In the transitional period between 1 January 2005 and 31 December 2008, the second lira was officially called "new lira" in Turkey. Coins were introduced in 2005 in denominations of 1, 5, 10, 25 and 50 new (yeni) kuruş and 1 new (yeni) lira. The 1 new kuruş was minted in brass and the 5, 10 and 25 new kuruş in cupro-nickel, whilst the 50 new kuruş and 1 new lira are bimetallic. All coins show portraits of Mustafa Kemal Atatürk.

TRY.jpg

To the dismay of the European Central Bank, the sizes and compositions of the 50 new kuruş and 1 new lira coins clearly resemble those of the €1 and €2 coins respectively. (See comparison photo in [2] of YTL 1 coin and €2 coin.) This could cause confusion in the eurozone. It also caused trouble to businesses using vending machines (particularly at airports) in the eurozone since a number of vending machines at the time accepted the 1 new lira coin as a €2 coin. Since €2 is worth roughly four times more, vending machines affected had to be upgraded at the expense of their owners.

Since 2009

From 1 January 2009, the "new" was removed from the second lira, its official name in Turkey becoming just "lira" again; new coins without the word "yeni" were introduced in denominations of 1, 5, 10, 25, 50 kuruş and 1 lira.

Turkish Lira coins after 2009
Image Value Technical parameters Description Date of
Obverse Reverse Diameter Thickness Mass Composition Edge Obverse Reverse first minting issue
1kr obverse.png 1kr reverse.png 1 kuruş 16.5 mm 1.35 mm 2.2 g 70% copper
30% zinc
Plain Value, motif, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk
2008 1 January 2009
5kr obverse.png 5kr reverse.png 5 kuruş 17.5 mm 1.65 mm 2.9 g 65% copper
18% nickel
17% zinc
Plain Value, motif, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk
2008 1 January 2009
10kr obverse.png 10kr reverse.png 10 kuruş 18.5 mm 1.65 mm 3.15 g 65% copper
18% nickel
17% zinc
Plain Value, motif, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk
2008 1 January 2009
25kr obverse.png 25kr reverse.png 25 kuruş 20.5 mm 1.65 mm 4 g 65% copper
18% nickel
17% zinc
Reeded Value, motif, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk
2008 1 January 2009
50kr obverse.png 50kr reverse.png 50 kuruş 23.85 mm 1.9 mm 6.8 g Outer ring:
65% copper
18% nickel
17% zinc

Inner part:
79 % copper
4% nickel
17% zinc
Reeded Value, Istanbul, suspension bridge, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk
2008 1 January 2009
1TL obverse.png 1TL reverse.png 1 lira 26.15 mm 1.9 mm 8.2 g Outer ring:
79% copper
4% nickel
17% zinc

Inner part:
65% copper
18% nickel
17% zinc
T.C. letters and tulip figure Value, motif, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk
2008 1 January 2009
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Banknotes

Introduction

Ottoman 100-lira specimen note "Kaime".

The Banque Imperiale Ottomane (Imperial Ottoman Bank) first issued paper currency Kaime in 1862, in the denomination of 200 kuruş. The notes bore texts in Turkish and French. Notes for 1, 2 and 5 lira were introduced in 1873. In 1876, smaller denomination notes were introduced for 1, 5, 10, 20, 50 and 100 kuruş. In 1908, 50 and 100 lira notes were introduced.

From 1912, the Ministry of Finance issued paper money. Initially, notes were produced in denominations of 5 and 20 kuruş, ¼, ½, 1 and 5 lira, followed the next year by 1 and 2½ kuruş, 2½, 10, 25, 50, 100 and 500 lira. 1000 lira notes were introduced in 1914. In 1917, postage stamp money was issued in the form of 5 and 10 para stamps affixed to card.

1000 TL note of the 1950s-1970s.
Reverse of the 20 million lira banknote (replaced by the 20 new lira note)

In 1926, the Ministry of Finance introduced notes for the Republic of Turkey in denominations of 1, 5, 10, 50, 100, 500 and 1000 lira. These were the last notes printed with both French and Turkish (in the Arabic script) texts on them. Each note carried the portrait of Mustafa Kemal Atatürk.

Between 1937 and 1939, the Central Bank of Turkey introduced new notes with Turkish texts in the Latin alphabet, bearing the portrait of President İsmet İnönü. İnönü notes caused disputes at the time. Denominations of 2½, 5, 10, 50, 100, 500 and 1000 lira were issued. 1 lira notes were reintroduced in 1942, followed by 50 kuruş notes which weren't released in the country due to World War II in 1944. These two lowest denominations were replaced by coins after the War.

Atatürk reappeared on a subsequent series of notes in the early 1950s. The 2½ lira notes were replaced by coins in 1960, with the same happening to the 5 and 10 lira notes in 1974 and 1981. Higher denomination notes were introduced during the 1980s and 90s: 5000 lira in 1981, 10,000 lira in 1982, 20,000 lira in 1988, 50,000 lira in 1989, 100,000 lira in 1991, 250,000 lira in 1992, 500,000 lira in 1993, 1,000,000 lira in 1995, 5,000,000 lira in 1997, 10,000,000 lira in 1999 and 20,000,000 lira in 2001. The higher values of the "E7 Emission Group" banknotes (1992 250,000 TL and later and higher value notes) are exchangeable for new liras at a rate of 1,000,000 lira to 1 new lira at branches of the Central Bank of the Republic of Turkey until 31 December 2015, after which time they will have no value.[3] The 50,000 lira note ceases to be redeemable on 4 November 2009, and the 100,000 lira note on 4 November 2011.[4]

1st Emission Group

Banknotes of Emission 1 (1927 - 1939)
Image Value Dimensions Main Colour Description
Obverse Reverse Obverse Reverse
File:Banknot.jpg E1 1 TL ön yüz.JPG 1 Lira 90 × 166 mm Olive green House of Parliament, Citadel of Ankara, a ploughing farmer Former Building of Prime Ministry
E1 5 TL ön yüz.jpg E1 5 TL arka yüz.JPG 5 Lira 94 × 170 mm Dark blue The Citadel of Ankara, a grey-wolf and the House of Parliament A bridge in Ankara
E1 10 TL ön yüz.jpg E1 10 TL arka yüz.JPG 10 Lira 99 × 175 mm Lilac The Citadel of Ankara, a grey-wolf The Citadel of Ankara
E1 50 TL ön yüz.jpg E1 50 TL arka yüz.jpg 50 Lira 108 × 185 mm Brown, olive green Mustafa Kemal Atatürk Afyon
E1 100 TL ön yüz.jpg E1 100 TL arka yüz.jpg 100 Lira 112 × 189 mm Olive green Mustafa Kemal Atatürk a village
E1 500 TL ön yüz.jpg E1 500 TL arka yüz.jpg 500 Lira 120 × 194 mm Brown, yellow Gökmedrese of Sivas, Mustafa Kemal Atatürk Sivas
E1 1000 TL ön yüz.jpg E1 1000 TL arka yüz.jpg 1.000 Lira 124 × 201 mm Dark blue Mustafa Kemal Atatürk A view from the railroad to Sakarya
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

6th Emission Group

Banknotes of Emission 6 (1970s)
Image Value Dimensions Main Colour Description
Obverse Reverse Obverse Reverse
5 Old TL obverse.jpg 5 Old TL reverse.jpg 5 Lira 135 × 60 mm Purple Mustafa Kemal Atatürk Manavgat Waterfall, Antalya
10 Old TL obverse.jpg 10 Old TL reverse.jpg 10 Lira 140 × 65 mm Olive Green Mustafa Kemal Atatürk Maiden's Tower, Istanbul
20 Old TL obverse.jpg 20 Old TL reverse.jpg 20 Lira 143 × 66 mm Red, Brown Mustafa Kemal Atatürk Anıtkabir, Ankara
50 Old TL obverse.jpg 50 Old TL reverse.jpg 50 Lira 160 × 71 mm Brown Mustafa Kemal Atatürk Marble fountain in the rose garden in front of Yerevan Kiosk, Topkapı Palace, Istanbul
100 Old TL obverse.jpg 100 Old TL reverse.jpg 100 Lira 170 × 77 mm Green, Brown Mustafa Kemal Atatürk Mount Ararat
500 Old TL obverse.jpg 500 Old TL reverse.jpg 500 lira 170 × 80 mm Blue, Olive Green Mustafa Kemal Atatürk Main gate of Istanbul University
E6 1.000 TL ön yüz.jpg E6 1.000 TL arka yüz.jpg 1000 lira 170 × 82 mm Violet Mustafa Kemal Atatürk Bosphorus Bridge, Istanbul
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

7th Emission Group

1980s series

Banknotes of Emission 7 (1980s)
Image Value Dimensions Main Colour Description
Obverse Reverse Obverse Reverse
10 Old Turkish lira.jpg 10 TL reverse.jpg 10 Lira 122 × 55 mm Pink, Olive Green Mustafa Kemal Atatürk Meeting of him with elementary students.
100 TL obverse.jpg 100 TL reverse.jpg 100 Lira 131 × 61 mm Red, Brown Mustafa Kemal Atatürk Mehmet Akif Ersoy with National anthem of Turkey and his birthplace
500 TL obverse.jpg 500 TL reverse.jpg 500 Lira 140 × 72 mm Blue Mustafa Kemal Atatürk İzmir Clock Tower
1000 TL obverse.jpg 1000 TL reverse.jpg 1 000 Lira 140 × 72 mm Violet Mustafa Kemal Atatürk Fatih Sultan Mehmed with Old Istanbul skyline
1st version
2nd and 3rd version
4th version
1st version
2nd and 3rd version
4th version
5 000 Lira 1st version: 140 × 72 mm
Later versions: 146 × 72 mm
1st version: Brown, orange and blue
Later: Green, Brown
Mustafa Kemal Atatürk 1st version: Mevlana Mausoleum, Konya
2nd and 3rd version: Same place with Mevlana
4th version: Thermal power station of Afşin - Elbistan
10000 TL obverse.jpg E7 10 000 TL arka yüz.jpg 10 000 lira 146 × 72 mm Purple, Green Mustafa Kemal Atatürk Mimar Sinan the Architect with Selimiye Mosque, Edirne
20000 TL obverse.jpg 20000 TL reverse.jpg 20 000 lira 152 × 76 mm Red, Violet Mustafa Kemal Atatürk Main Building of Central Bank of Turkey, Ankara
50000 TL 1994 obverse.jpg 50000 TL 1994 reverse.jpg 50 000 lira 152 × 76 mm Green Mustafa Kemal Atatürk Turkish Grand National Assembly, Ankara
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

1990-2005 series

The notes were given security features. The latest versions of the 100,000 TL, 250,000 TL, 500,000 TL and 1,000,000 TL notes lost their color-changing ink due to inflation.

Banknotes of Emission 8 (1990–2005)
Image Value Dimensions Main Colour Description
Obverse Reverse Obverse Reverse
100000 lira obverse.jpg 100000 lira reverse.jpg 100 000 lira 158 × 76 mm Brown Green Mustafa Kemal Atatürk Meeting of him with elementary students.
250000 TL obverse.jpg 250000 TL reverse.jpg 250 000 lira 158 × 76 mm Blue Mustafa Kemal Atatürk Red Tower, Alanya
500000 TL obverse.jpg 500000 TL reverse.jpg 500 000 lira 160 × 76 mm Purple, Violet Mustafa Kemal Atatürk Battle of Gallipoli Memorial, Çanakkale
1 Million TL obverse.jpg 1 Million TL reverse.jpg 1 000 000 lira 160 × 76 mm Claret Red, Blue Mustafa Kemal Atatürk Atatürk Dam (as a part of Southeastern Anatolia Project)
5 Million TL obverse.jpg 5 Million TL reverse.jpg 5 000 000 lira 162 × 76 mm Pastel yellow and greenish brown Mustafa Kemal Atatürk Anıtkabir, Ankara
10 Million TL obverse.jpg 10 Million TL reverse.jpg 10 000 000 lira 162 × 76 mm Red Mustafa Kemal Atatürk with Flag of Turkey silhouette Piri Reis Map
E7 20.000.000 ön yüz.jpg 20million.JPG 20 000 000 lira 162 × 76 mm Green Mustafa Kemal Atatürk Ruins of Ephesus
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

8th Emission group

In the transitional period between 1 January 2005 and 31 December 2008, the second lira was officially called "new lira" in Turkey. Banknotes, referred to by the Central Bank as the "E-8 Emission Group", were introduced in 2005 in denominations of 1, 5, 10, 20, 50, and 100 new lira. Whilst the lower four denominations replaced older notes and used very similar designs, the 50 and 100 new lira notes did not have equivalents in the old currency. All notes show portraits of Mustafa Kemal Atatürk from different points of his life and images of various historical and otherwise important buildings and places in Turkey.

Banknotes of Emission 8
Image Value Dimensions Main Colour Description
Obverse Reverse Obverse Reverse
1 YTL ön.jpg 1 YTL arka.jpg 1 lira 160 × 76 mm Reddish-purple, Blue Kemal Atatürk Atatürk Dam (as a part of Southeastern Anatolia Project)
5 YTL ön.jpg 5 YTL arka.jpg 5 lira 162 × 76 mm Pastel yellow and greenish brown Kemal Atatürk Anıtkabir, Ankara
10 YTL ön.jpg 10 YTL arka.jpg 10 lira 162 × 76 mm Red Kemal Atatürk with Flag of Turkey silhouette Piri Reis Map
20 YTL ön.jpg 20 YTL arka.jpg 20 lira 162 × 76 mm Green Kemal Atatürk Ruins of Ephesus
50 YTL ön.jpg 50 YTL arka.jpg 50 lira 152 × 81 mm Orange Kemal Atatürk Cappadocia
100 YTL ön.jpg 100 YTL arka.jpg 100 lira 158 × 81 mm Blue Kemal Atatürk Ishak Pasha Palace
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

9th Emission group

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 "lira" rather than "new lira", and include a new 200 lira denomination.[5] The new banknotes have different sizes to prevent forgery.[6] 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.

Banknotes of Emission 9
Image Value Dimensions Main colours Description
Obverse Reverse Obverse Reverse
5 Türk Lirası front.jpg 5 Türk Lirası reverse.jpg 5 lira 64 × 130 mm Brown Mustafa Kemal Atatürk Aydın Sayılı, diagrams of solar system, atom, DNA and ancient cave
10 Türk Lirası front.jpg 10 Türk Lirası reverse.jpg 10 lira 64 × 136 mm Red Mustafa Kemal Atatürk Cahit Arf, Arf invariant, arithmetic series, abacus, binary
20 Türk Lirası front.jpg 20 Türk Lirası reverse.jpg 20 lira 68 × 142 mm Green Mustafa Kemal Atatürk Architect Kemaleddin, Gazi University main building, aqueduct, circular motif and cube-globe-cylinder symbolizing architecture
50 Türk Lirası front.jpg 50 Türk Lirası reverse.jpg 50 lira 68 × 148 mm Orange Mustafa Kemal Atatürk Fatma Aliye Topuz, flower and literary figures
100 Türk Lirası front.jpg 100 Türk Lirası reverse.jpg 100 lira 72 × 154 mm Blue Mustafa Kemal Atatürk Buhurizade Itri, notes, instruments and Mevlevi figure
200 Türk Lirası front.jpg 200 Türk Lirası reverse.jpg 200 lira 72 × 160 mm Purple Mustafa Kemal Atatürk Yunus Emre, Yunus' 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.

See also

References

  1. ^ International Organization for Standardization. "BISO 4217 Currency names and code elements". ISO. http://www.iso.org/iso/support/faqs/faqs_widely_used_standards/widely_used_standards_other/currency_codes/currency_codes_list-1.htm. Retrieved 2009-01-02. 
  2. ^ Official Gazette of the Republic of Turkey. "Law on the Currency of the Republic of Turkey". http://rega.basbakanlik.gov.tr/eskiler/2004/01/20040131.htm#3. 
  3. ^ Türkiye Cumhuriyet Merkez Bankasi (Central Bank of the Republic of Turkey) (19 December 2005). "Announcement on the Withdrawal of Turkish Lira Banknotes from Circulation". Official Gazette no. 26028, 19 December 2005, pages 89-90.. TCMB. http://www.tcmb.gov.tr/yeni/eng/. Retrieved 2008-01-05. 
  4. ^ Türkiye Cumhuriyet Merkez Bankasi (Central Bank of the Republic of Turkey). "Banknotes Withdrawn From Circulation and the Redemption Periods". "Banknotes" section of TCMB website.. TCMB. http://www.tcmb.gov.tr/yeni/eng/. Retrieved 2008-01-05. 
  5. ^ Türkiye Cumhuriyet Merkez Bankasi (Central Bank of the Republic of Turkey) (8 May 2007). "Announcement on the Withdrawal of New Turkish Lira Banknotes from Circulation". Official Gazette no. 26516, 8 May 2007, page 103.. TCMB. http://www.tcmb.gov.tr/yeni/eng/. Retrieved 2008-01-05. 
  6. ^ Turkish Daily News (2006-09-15). "TL banknotes to be in circulation in 2009". Archived from the original on 2007-09-30. http://web.archive.org/web/20070930170901/http://www.turkishdailynews.com.tr/article.php?enewsid=54176. Retrieved 2006-09-28. 
  • Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. 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. 

Further reading

External links

Historical context

Preceded by:
Turkish kuruş
Ratio: 100 kuruş = 1 (first) lira
Currency of Turkey
1844 – December 31, 2004
Note: (First)
Succeeded by:
(Second) Turkish lira
(called "New Turkish lira" January 1, 2005 – December 31, 2008)

Reason: inflation
Ratio: 1,000,000 (first) lira = 1 (second) lira
Preceded by:
(First) Turkish lira
Reason: inflation
Ratio: 1,000,000 (first) lira = 1 (second) lira
Currency of Turkey
January 1, 2005 –
Note: (Second)
Succeeded by:
Current
Current TRY exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD

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