- Turkish lira
-
For other uses, see TL.
Turkish lira Türk lirası (Turkish) 
1 Turkish lira ISO 4217 code TRY User(s) 
Turkey
Northern CyprusInflation 4.90% (Turkey, January 2011) Source [1] Sabah Subunit 1/100 kuruş Symbol TL Coins Freq. used 5, 10, 25, 50 Kr , 1 TL Rarely used 1 Kr Banknotes Freq. used 5, 10, 20, 50 TL Rarely used 100, 200 TL Central bank Central Bank of the Republic of Turkey Website www.tcmb.gov.tr Printer CBRT Banknote Printer Website www.tcmb.gov.tr Economy of Turkey 
Money - Turkish lira
- Central Bank
Projects
- Baku–Tbilisi–Ceyhan pipeline
- European Union – Turkey Customs Union
- Southeastern Anatolia Project
- Foreign purchases of real estate
Other Turkish topics
Culture – Education
Geography – History – Politics
Portal: TurkeyThe Turkish lira (currency sign: TL; Turkish: Türk lirası; ISO 4217: TRY)[1] 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. All notes and coins of Turkish Lira have portraits of Mustafa Kemal Atatürk from different points of his life since 1930s (with the exception of some notes of second emission, 1937-1942, which features İsmet İnönü) on the obverse side. Central Bank of Turkey is organizing a contest for a new currency sign in October 2011[2].
Contents
History
First lira
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 more than 40% 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
- 2005 — 1 U.S. dollar = 1.29 new lira (The use of New Turkish Lira, which drops 6 zeros from the currency Turkish Lira, was implemented in 2005)
- 2007 — 1 U.S. dollar = 1.26 new lira
- 2008 — 1 U.S. dollar = 1.55 new lira
- 2009 — 1 U.S. dollar = 1.48 new lira
- 2010 — 1 U.S. dollar = 1.44 lira
- 2011 — 1 U.S. dollar = 1.81 lira
In 2010, the name was converted to Turkish Lira, but New Turkish Lira was used as currency until 31 December 2009. In the last decade, the Turkish lira stabilized against the U.S. dollar and the euro, although in 2011 it has been losing value steadily. 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 redenomination by 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).[3] 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
In 1922/23, a new coinage was introduced consisting of aluminium-bronze 100 para, 5 and 10 kuruş and nickel 25 kuruş. They were last issued in 1928. 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 lira in 1997, and 100,000 lira in 1999. This culminated in 250,000 lira coins 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.
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. Also, the inner and outer alloys of the 50 kuruş and 1 lira coins were reversed.
Turkish Lira coins after 2009 Image Value Technical parameters Description Date of Obverse Reverse Diameter Thickness Mass Composition Edge Obverse Reverse first minting issue 
1 kuruş 16.5 mm 1.35 mm 2.2 g 70% copper
30% zincPlain Value, motif, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk2008 1 January 2009 
5 kuruş 17.5 mm 1.65 mm 2.9 g 65% copper
18% nickel
17% zincPlain Value, motif, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk2008 1 January 2009 
10 kuruş 18.5 mm 1.65 mm 3.15 g 65% copper
18% nickel
17% zincPlain Value, motif, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk2008 1 January 2009 
25 kuruş 20.5 mm 1.65 mm 4 g 65% copper
18% nickel
17% zincReeded Value, motif, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk2008 1 January 2009 
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% zincReeded Value, Istanbul, suspension bridge, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk2008 1 January 2009 
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% zincT.C. letters and tulip figure Value, motif, year of minting "TÜRKİYE CUMHURİYETİ",
Mustafa Kemal Atatürk2008 1 January 2009 These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table. Banknotes
Introduction
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.[4] The 50,000 lira note ceases to be redeemable on 4 November 2009, and the 100,000 lira note on 4 November 2011.[5]
1st Emission Group
Banknotes of 1st Emission Image Value Dimensions Main Colour Description Obverse Reverse Obverse Reverse 
116px 1 Lira 90 × 166 mm Olive green House of Parliament, Citadel of Ankara, a ploughing farmer Former Building of Prime Ministry 
5 Lira 94 × 170 mm Dark blue The Citadel of Ankara, a grey-wolf and the House of Parliament A bridge in Ankara 
10 Lira 99 × 175 mm Lilac The Citadel of Ankara, a grey-wolf The Citadel of Ankara 
50 Lira 108 × 185 mm Brown, olive green Mustafa Kemal Atatürk Afyon 
100 Lira 112 × 189 mm Olive green Mustafa Kemal Atatürk a village 
500 Lira 120 × 194 mm Brown, yellow Gökmedrese of Sivas, Mustafa Kemal Atatürk Sivas 
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 Lira 135 × 60 mm Purple Mustafa Kemal Atatürk Manavgat Waterfall, Antalya 
10 Lira 140 × 65 mm Olive Green Mustafa Kemal Atatürk Maiden's Tower, Istanbul 
20 Lira 143 × 66 mm Red, Brown Mustafa Kemal Atatürk Anıtkabir, Ankara 
50 Lira 160 × 71 mm Brown Mustafa Kemal Atatürk Marble fountain in the rose garden in front of Yerevan Kiosk, Topkapı Palace, Istanbul 
100 Lira 170 × 77 mm Green, Brown Mustafa Kemal Atatürk Mount Ararat 
500 lira 170 × 80 mm Blue, Olive Green Mustafa Kemal Atatürk Main gate of Istanbul University 
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 Lira 122 × 55 mm Pink, Olive Green Mustafa Kemal Atatürk Meeting of him with elementary students. 
100 Lira 131 × 61 mm Red, Brown Mustafa Kemal Atatürk Mehmet Akif Ersoy with National anthem of Turkey and his birthplace 
500 Lira 140 × 72 mm Blue Mustafa Kemal Atatürk İzmir Clock Tower 
1 000 Lira 140 × 72 mm Violet Mustafa Kemal Atatürk Fatih Sultan Mehmed with Old Istanbul skyline 
5 000 Lira 1st version: 140 × 72 mm
Later versions: 146 × 72 mm1st version: Brown, orange and blue
Later: Green, BrownMustafa Kemal Atatürk 1st version: Mevlana Mausoleum, Konya
2nd and 3rd version: Same place with Mevlana
4th version: Thermal power station of Afşin - Elbistan
10 000 lira 146 × 72 mm Purple, Green Mustafa Kemal Atatürk Mimar Sinan the Architect with Selimiye Mosque, Edirne 
20 000 lira 152 × 76 mm Red, Violet Mustafa Kemal Atatürk Main Building of Central Bank of Turkey, Ankara 
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 1990-2005 series Image Value Dimensions Main Colour Description Obverse Reverse Obverse Reverse 
100 000 lira 158 × 76 mm Brown Green Mustafa Kemal Atatürk Mustafa Kemal Atatürk meeting with elementary school students. 
250 000 lira 158 × 76 mm Blue Mustafa Kemal Atatürk Red Tower, Alanya 
500 000 lira 160 × 76 mm Purple, Violet Mustafa Kemal Atatürk Battle of Gallipoli Memorial, Çanakkale 
1 000 000 lira 160 × 76 mm Claret Red, Blue Mustafa Kemal Atatürk Atatürk Dam (as a part of Southeastern Anatolia Project) 
5 000 000 lira 162 × 76 mm Pastel yellow and greenish brown Mustafa Kemal Atatürk Anıtkabir, Ankara 
10 000 000 lira 162 × 76 mm Red Mustafa Kemal Atatürk Piri Reis Map 
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 lira 160 × 76 mm Reddish-purple, Blue Mustafa Kemal Atatürk Atatürk Dam (as a part of Southeastern Anatolia Project) 
5 lira 162 × 76 mm Pastel yellow and greenish brown Mustafa Kemal Atatürk Anıtkabir, Ankara 
10 lira 162 × 76 mm Red Mustafa Kemal Atatürk Piri Reis Map 
20 lira 162 × 76 mm Green Mustafa Kemal Atatürk Ruins of Ephesus 
50 lira 152 × 81 mm Orange Mustafa Kemal Atatürk Cappadocia 
100 lira 158 × 81 mm Blue Mustafa 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.[6] The new banknotes have different sizes to prevent forgery.[7] 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 Colour Description Obverse Reverse Obverse Reverse 
5 lira 64 × 130 mm Brown Mustafa Kemal Atatürk Aydın Sayılı, diagrams of solar system, atom, ancient cave and a left-handed Z-DNA helix. 
10 lira 64 × 136 mm Red Mustafa Kemal Atatürk Cahit Arf, Arf invariant, arithmetic series, abacus, binary 
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 lira 68 × 148 mm Orange Mustafa Kemal Atatürk Fatma Aliye Topuz, flower and literary figures 
100 lira 72 × 154 mm Blue Mustafa Kemal Atatürk Buhurizade Itri, notes, instruments and Mevlevi figure 
200 lira 72 × 160 mm Purple Mustafa Kemal Atatürk 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. See also
References
- ^ 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.
- ^ ""TL SİMGE YARIŞMASI" ŞARTNAMESİ" (in Turkish). Türkiye Cumhuriyeti Merkez Bankası. October 2011. http://www.tcmb.gov.tr/yeni/duyuru/2011/TLsartname.pdf. Retrieved 2011-09-09.
- ^ 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.
- ^ 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.
- ^ 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.
- ^ 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.
- ^ 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
- "Türk Lirası’nda yeni yüzler" (in Turkish). NTV-MSNBC. Anadolu Agency. 2008-10-03. http://www.ntvmsnbc.com/news/461129.asp. Retrieved 2009-01-06.
External links
- Articles about Ottoman Turkish currency (in Turkish)
- Banknotes of Turkey
- Turkish Central Bank (Banknote Museum page)
- Ottoman Empire coins
- Republic of Turkey coins and banknotes
- Images of the "new lira" banknotes and coins
- Coins from Turkey with pictures
- Turkish new lira official changeover Campaign
- Turkish Lira exchange rates over other currencies
Historical context
Preceded by:
Ottoman lira
Ratio: 1 Ottoman lira = 140 (first) lira[citation needed]Currency of Turkey
October 29, 1923 – 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) liraPreceded by:
(First) Turkish lira
Reason: inflation
Ratio: 1,000,000 (first) lira = 1 (second) liraCurrency of Turkey
January 1, 2005 –
Note: (Second)Succeeded by:
CurrentCurrent 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 OzForex: 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 Currencies of Europe European Union Eastern Belarusian ruble · Moldovan leu · Russian ruble · Transnistrian ruble (unrecognised) · Ukrainian hryvniaSouthern Albanian lek · Bosnia and Herzegovina convertible mark · Croatian kuna · Macedonian denar · Serbian dinar · Turkish liraWestern Currencies of Asia Central East North South Southeast West Abkhazian apsar (unrecognized) · Afghan afghani · Armenian dram (Nagorno-Karabakh) · Azerbaijani manat · Bahraini dinar · Egyptian pound (Gaza Strip) · Euro (Cyprus) · Georgian lari · Iranian rial · Iraqi dinar · Israeli new shekel (Palestinian territories) · Jordanian dinar (West Bank) · Kuwaiti dinar · Lebanese pound · Nagorno-Karabakh dram (unrecognized) · Omani rial · Russian ruble (Abkhazia, South Ossetia) · Qatari riyal · Saudi riyal · Syrian pound · Turkish lira (Northern Cyprus) · UAE dirham · Yemeni rialCategories:- Currencies of Europe
- Circulating currencies
- Currencies of Asia
- Currencies of Turkey
- History of the Republic of Turkey
- Economy of Northern Cyprus
- Banknotes of Turkey
- Economy of the Ottoman Empire
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