Turkish lira facts for kids

Quick facts for kids Turkish lira
Banknotes 1₺ coin
ISO 4217 Code	TRY
User(s)	Turkey Northern Cyprus Northern Syria (de facto)
Inflation	75.50%
Source	YCharts [1].
Method	CPI
Subunit
1⁄100	Kuruş
Symbol	₺
Kuruş	kr
Plural	liralar
Coins
Freq. used	50kr, ₺1
Rarely used	1kr, 5kr, 10kr, 25kr, ₺5
Banknotes
Freq. used	₺5, ₺10, ₺20, ₺50, ₺100, ₺200
Printer	CBRT Banknote Printer
The plural is rarely used (mostly as an indefinite noun) and it is never used when referring to amounts, e.g. üç lira (three lira), bin lira (one thousand lira).

The lira (Turkish: Türk lirası) is the official money of Turkey and Northern Cyprus. It is also used in parts of northern Syria. The lira has a special sign: ₺. Its international code is TRY, and it's often shortened to TL. One lira is made up of one hundred kuruş.

History of the Turkish Lira

The Ottoman Lira (1844–1923)

The idea of the lira comes from an old Roman weight unit called the libra. This unit was used for silver. The name "lira" spread across Europe and the Middle East. Many modern currencies, like the former Italian lira and the British pound, come from this ancient idea.

The lira became the main money in Turkey in 1844. Before that, the kuruş was the main unit. After 1844, the kuruş became a smaller part of the lira, with 100 kuruş making up one lira. The Ottoman lira was used until the end of 1927.

The First Turkish Lira (1923–2005)

Early Turkish banknotes used both "Livre Turque" (French) and "Türk Lirası" (Turkish) phrases.

The first banknotes of the new Turkish Republic showed Mustafa Kemal Atatürk, who was the founder of modern Turkey. This started in 1926. After Atatürk passed away, his picture was replaced by İsmet İnönü on some banknotes. But later, Atatürk's portrait returned and has been on all banknotes since.

Over time, the value of the Turkish lira changed a lot compared to other currencies like the US dollar. For example:

• In 1960, US$1 was worth TL 9.
• By 1980, US$1 was worth TL 80.
• By 2000, US$1 was worth TL 620,000.
• By 2005, US$1 was worth TL 1,350,000.

Because its value dropped so much, the Guinness Book of Records called the Turkish lira the world's least valuable currency for several years.

The Second Turkish Lira (2005–Present)

The Turkish lira's value has changed a lot compared to the euro.

To fix the problem of the lira having too many zeros, Turkey made a big change on January 1, 2005. They removed six zeros from the currency! This meant that 1 new Turkish lira (YTL) was equal to 1,000,000 old Turkish liras (TRL). This was called a "redenomination."

For a few years, the new currency was called Yeni Türk lirası, meaning "New Turkish lira." The letter "Y" in its abbreviation (YTL) came from the Turkish word for "new." But starting in January 2009, the "new" part was removed. Now, it's just called the "Turkish lira" again, and its abbreviation is "TL."

All current Turkish banknotes and most coins feature portraits of Mustafa Kemal Atatürk.

Recent Economic Challenges (2018–Present)

Since 2018, the Turkish lira has faced some tough times. Its value has gone down quickly compared to currencies like the US dollar and the euro. This means you need more liras to buy the same amount of dollars or euros.

Many experts believe this is due to high inflation (when prices go up and money buys less) and decisions about interest rates. Despite these challenges, the Turkish government has tried different ways to help the economy. The value of the lira has continued to change, reaching new lows at times. For example, in late 2021, the lira lost half of its value compared to the start of that year.

Turkish Coins

Since January 1, 2009, new coins have been used. They no longer have the word "yeni" (new) on them. These coins come in different values: 1 kuruş, 5 kuruş, 10 kuruş, 25 kuruş, 50 kuruş, and ₺1. The 50 kuruş and ₺1 coins also had their metal parts swapped around.

Current Turkish lira coins [2]
Image		Value (kuruş)	Technical parameters				Description				Date of
Obverse	Reverse		Diameter (mm)	Thickness (mm)	Mass (g)	Composition	Edge	Obverse		Reverse	first minting	issue
		1kr.	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
		5kr.	17.5	1.65	2.9	65% Cu, 18% Ni, 17% Zn			Tree of life
		10kr.	18.5		3.15				Rumi motif
		25kr.	20.5		4		Reeded		Kufic calligraphic
		50kr.	23.85	1.9	6.8	Ring: 65% Cu, 18% Ni, 17% Zn Center: 79% Cu, 17% Zn, 4% Ni	Large reeded		Bosphorus Bridge and Istanbul silhouette
		₺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 motif
		₺5 (Commemorative)	28.15		8.25	Ring: 64% Cu, 32% Zn, 4% Ni Center: 64% Cu, 27% Ni, 9% Zn	Large reeded		Rub el Hizb		2023	29 October 2023
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Special Commemorative Coins

Since 2012, Turkey has made special ₺1 coins to celebrate important events or anniversaries. These are called "commemorative coins" and are used just like regular coins.

• 

  150th anniversary of Court of Accounts (2012)

• 

  10th International Turkish Olympiad (2012)

• 

  Commemorative coin for martyrs and veterans of July 15th (2016)

• 

  Commemoration of Hagia Sophia's reversion to mosque (2020)

• 

  100th year of honoring Antep province with the ghazi title (2021)

Other special coins include:

• 2018: For the inauguration of the President Recep Tayyip Erdoğan.
• 2020: For the 100th anniversary of the Grand National Assembly of Turkey.
• 2022: For the opening of the 1915 Çanakkale Bridge.
• 2022: For the 100th anniversary of the Great Offensive.
• 2023: A ₺5 coin for the 100th year of the Republic.

Turkish Banknotes

A new set of banknotes, called the "E-9 Emission Group," started being used on January 1, 2009. These new banknotes are called "Turkish lira" instead of "new Turkish lira." They also include a new ₺200 banknote. The banknotes are different sizes to make it harder to copy them.

A cool thing about this new series is that each banknote features a famous Turkish person, rather than just places or buildings. For example, the ₺5 banknote is mostly purple and shows Aydın Sayılı, a famous scientist.

Current Turkish lira banknotes 9. Emission Group
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, left-handed 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		Mimar Kemaleddin: 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		Pink		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 pixel per millimetre. For table standards, see the banknote specification table.

The Turkish Lira Sign

Turkish lira sign

How the sign is designed

The Turkish lira used to be shown as TL. This was the opposite of the old Ottoman lira sign, which was LT.

In 2012, the Central Bank of the Republic of Turkey created a brand new symbol for the Turkish lira. This new sign was chosen after a country-wide competition. The winning design, made by Tülay Lale, looks like the letter L shaped like half an anchor, with a double-striped letter T inside it.

When the new symbol was shown to the public, the Prime Minister at the time, Recep Tayyip Erdoğan, explained its meaning. He said the anchor shape shows that the currency is a "safe harbor." The lines pointing upwards represent its growing importance and value.

The new Turkish lira sign was added to computer systems in September 2012. On computers using Turkish keyboards, you can type it by pressing the AltGr and T keys together.

Current Exchange Rates

See also

In Spanish: Lira turca para niños

• Banknotes of Turkey
• Coins of Turkey
• Economy of Turkey
• Economy of Northern Cyprus
• Ottoman lira