About the Turkish Lira
The current Turkish Lira (TRY) was introduced in 2005 as 'New Turkish Lira', replacing the old Lira (TRL) after a period of severe hyperinflation. Six zeros were removed.
The name 'Lira' is derived from the ancient Roman unit of weight, the 'libra'.
Interesting Facts
A Currency of Redenomination
The current Turkish Lira is the result of a redenomination in 2005 that removed six zeros from the old Lira, a reflection of the country's past struggles with hyperinflation.
Mustafa Kemal Atatürk on Every Note
All Turkish banknotes feature the portrait of Mustafa Kemal Atatürk, the founder and first President of the Republic of Turkey, a revered figure in Turkish history.
Volatile Exchange Rate
The Turkish Lira has experienced significant volatility and depreciation in recent years, influenced by high inflation, unconventional monetary policies, and geopolitical events.
Historical Timeline
The Republic of Turkey is founded.
The 'New Turkish Lira' (TRY) is introduced, removing six zeros from the previous currency.
The 'New' prefix is dropped, and it becomes simply the Turkish Lira.
The Lira experiences significant depreciation and volatility.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- TRY
- Symbol
- ₺
- Numeric Code
- 949
- Subunit
- Kuruş (1/100)
- Introduced
- 2005-01-01
Central Bank
- Name
- Central Bank of the Republic of Turkey
- Headquarters
- Ankara, Turkey
- Founded
- 1930
- Current Governor
- Fatih Karahan (since 2024)
Economic Data
- Reserve Currency Share
- 0.1%
- Forex Volume Share
- 0.4%
- Inflation Rate
- 75.45%
- Interest Rate
- 50.00%
Exchange Rates
What Affects the TRY Exchange Rate?
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