View source for Turkish lira

{{Short description|Currency of Turkey}}
{{Use dmy dates|date=November 2021}}
{{Infobox currency
| local_name1 = Türk lirası
| local_name_lang1 = tr
| name_abbr = TL
| image_1 = Turkish Lira Series Banknotes (Modern).png
| image_width_1 = 175px
| image_title_1 = Banknotes
| image_2 = 1TL obverse.png
| image_width_2 = 100px
| image_title_2 = 1₺ coin
| iso_code = TRY
| iso_comment = (before 2006: TRL)
| using_countries = {{flagcountry|TUR}}<br />{{flagdeco|Northern Cyprus}} [[Northern Cyprus]]
| inflation_rate = 47.09%
| inflation_method = [[Consumer price index|CPI]]
| inflation_source_date = YCharts [https://ycharts.com/indicators/turkey_inflation_rate#:~:text=Basic%20Info,long%20term%20average%20of%2027.07%25].
| unit = Lira
| subunit_ratio_1 = {{frac|1|100}}
| subunit_name_1 = [[Kuruş]]
| symbol_subunit_1 = kr
| symbol = TL, [[Turkish lira sign|₺]]
| plural = ''liralar''{{ref label|aaa|a}}
| frequently_used_coins = ₺1, ₺5
| rarely_used_coins = 1kr, 5kr, 10kr, 25kr, 50kr
| coin_article = Coins of Turkey
| frequently_used_banknotes = ₺5, ₺10, ₺20, ₺50, ₺100, ₺200
| rarely_used_banknotes = 
| banknote_article = Banknotes of Turkey
| issuing_authority = [[Central Bank of the Republic of Turkey]]
| issuing_authority_website = {{URL|https://www.tcmb.gov.tr/}}
| printer = CBRT Banknote Printer
| printer_website = {{URL|https://www.tcmb.gov.tr/}}
| mint = [[Turkish State Mint]]
| mint_website = {{URL|https://www.darphane.gov.tr/}}
| footnotes = {{note|aaa|a}} 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''' ({{langx|tr|Türk lirası}}; [[Currency sign|sign]]: '''[[Turkish lira sign|₺]]'''; [[ISO 4217|ISO 4217 code]]: '''TRY''';<ref name="International Organization for Standardization">{{cite web|url=http://www.iso.org/iso/home/standards/currency_codes.htm |title=Currency codes – ISO 4217 |access-date=8 February 2013 |author=International Organization for Standardization |publisher=ISO}}</ref> abbreviation: '''TL''') is the official [[currency]] of [[Turkey]]. It is also legal tender in the ''[[de facto]]'' state of the [[Turkish Republic of Northern Cyprus]]. One lira is divided into one hundred ''[[kuruş]]''. The First Turkish lira could be further subdivided, where one kuruş was equal to 40 para.<ref>{{Cite web |title=10 Para, Turkey |url=https://en.numista.com/catalogue/pieces6393.html |access-date=2025-08-30 |website=en.numista.com |language=en}}</ref>

The current lira is the Second Turkish lira, having succeeded the first Turkish lira in 2005 which in turn succeeded the [[Ottoman lira]] in 1923. Since 2018 the Turkish lira has been in crisis, having plummeted in value following Turkish president [[Recep Tayyip Erdoğan|Erdoğan]]'s economic and political policies.

==History==

===Ottoman lira (1844–1923)===
{{Main|Ottoman lira}}

The lira, along with the [[lira|related currencies]] of Europe and the Middle East, has its roots in the [[Ancient Rome|ancient Roman]] unit of weight known as the [[Libra (weight)|libra]] which referred to the [[Troy weight|Troy pound]] of silver. The Roman libra adoption of the currency spread it throughout Europe and the Near East, where it continued to be used into medieval times. The Turkish lira, the [[French livre]] (until 1794), the [[Italian lira]] (until 2002), [[Lebanese pound]] and the [[Pound (currency)|pound]] unit of account in [[Pound sterling|sterling]] (a translation of the Latin ''libra''; the word "pound" as a unit of weight is still abbreviated as "lb.") are the modern descendants of the ancient currency.

The [[Ottoman lira|lira]] was introduced as the main unit of account in 1844, with the former currency, [[kuruş]], remaining as a {{frac|1|100}} subdivision. The Ottoman lira remained in circulation until the end of 1927.<ref>{{cite web|url=http://www.tcmb.gov.tr/yeni/egm/ing/b001000e.html|title=History of Paper Money|publisher=Central Bank of the Republic of Turkey|access-date=8 February 2013|url-status=dead|archive-url=https://web.archive.org/web/20130929031630/http://www.tcmb.gov.tr/yeni/egm/ing/b001000e.html|archive-date=29 September 2013|df=dmy-all}}</ref>

{{Anchor|TRL}}

===First Turkish lira (1923–2005)===
<!-- Courtesy note per [[WP:RSECT]], [[First Turkish lira]] links here -->
[[File:E1 1 TL arka yüz.jpg|thumb|Both ''Livre Turque'' {{in lang|fr}} and تورك لیراسی {{in lang|ota}} phrases used on [[Banknotes of Turkey#The First Issue (E1) Banknotes|first-issue banknotes]].]]

The banknotes of the [[Banknotes of Turkey#The First Issue (E1) Banknotes|first]] and [[Banknotes of Turkey#The Second Issue (E2) Banknotes|second issue]] depict ''[[Mustafa Kemal Atatürk]]'' on the obverse side. This change was done according to the 12 January 1926 issue of the [[TC Resmi Gazete|official gazette]].<ref>{{cite web|url=http://www.resmigazete.gov.tr/arsiv/269.pdf |title=701 Mevcûd Evrâk-ı Nakdiyyenin Yenileriyle İstibdâline Dâir Kânun |publisher=Prime Ministry |access-date=8 February 2013}}</ref><ref>{{cite web |url=http://www.tbmm.gov.tr/tutanaklar/TUTANAK/TBMM/d02/c020/tbmm02020033.pdf |title=Elyevm mevkii tedavülde bulunan evrakı nakdiye yerine, aynı evsafı kanuniyeyi haiz olmak ve aynı miktarda bulunmak üzere yeni evrakı nakdiye ihracı hakkında (1/750) numaralı kanun lâyihası ve Kavanin ve Muvazenei Maliye Encümenleri mazbataları. |publisher=Grand National Assembly of Turkey |access-date=8 February 2013 |archive-date=9 November 2012 |archive-url=https://web.archive.org/web/20121109201406/http://www.tbmm.gov.tr/tutanaklar/TUTANAK/TBMM/d02/c020/tbmm02020033.pdf |url-status=dead }}</ref> After Atatürk's death, his portrait was replaced with one of [[İsmet İnönü]] for the [[Banknotes of Turkey#The Third Issue (E3) Banknotes|third]] and [[Banknotes of Turkey#The Fourth Issue (E4) Banknotes|fourth]] issues. Atatürk returned for the [[Banknotes of Turkey#The Fifth Issue (E5) Banknotes|fifth issue]] and all subsequent issues.

After periods of the lira pegged to [[Pound sterling|sterling]] and the [[French franc|franc]], a peg of TL&nbsp;2.8 = US$1 was adopted in 1946 and maintained until 1960, when the currency was devalued to TL&nbsp;9 = US$1. From 1970, a series of hard, then soft pegs to the dollar operated as the value of the Turkish lira began to fall.

The following are based on yearly averages:<ref>{{cite web |title=Historical exchange rates from 1953 with graph and charts |url=https://fxtop.com/en/historical-exchange-rates.php?A=1&C1=USD&C2=TRL&YA=1&DD1=01&MM1=01&YYYY1=1953&B=1&P=&I=1&DD2=06&MM2=02&YYYY2=2020&btnOK=Go%21 |website=fxtop.com}}</ref><ref>{{cite web |title=Zoom on historical exchange rates graph |url=https://fxtop.com/en/historical-exchange-rates-graph-zoom.php?C1=USD&C2=TRL&A=1&DD1=31&MM1=12&YYYY1=1994&DD2=01&MM2=01&YYYY2=1995&LARGE=1&INDICE=&LANG=en&VAR=0&LOG= |website=fxtop.com}}</ref>

* 1960s: US$1 = TL&nbsp;9
* 1970: US$1 = TL&nbsp;11.30
* 1975: US$1 = TL&nbsp;14.40
* 1980: US$1 = TL&nbsp;80
* 1985: US$1 = TL&nbsp;500
* 1990: US$1 = TL&nbsp;2,500
* 1995: US$1 = TL&nbsp;43,000
* 2000: US$1 = TL&nbsp;620,000
* 2001: US$1 = TL&nbsp;1,250,000
* 2005: US$1 = TL&nbsp;1,350,000

The ''[[Guinness Book of Records]]'' ranked the Turkish lira as the world's least valuable currency in 1995 and 1996, and again from 1999 to 2004. The lira's value had fallen so far that one original gold lira coin could be sold for TL&nbsp;154,400,000 before the 2005 [[Revaluation of the Turkish lira|revaluation]].

{{Anchor|TRY}}

=== Second Turkish lira (2005–present) ===
<!-- courtesy note per [[WP:RSECT]], [[Second Turkish lira]] links here -->
{{Main|Revaluation of the Turkish lira}}
[[File:Euro exchange rate to TRY.svg|thumb|400px|right|The Turkish lira has a history of accelerating loss of value relative to the [[euro]], breaching the mark of ₺5 per euro in early 2018]]

On 28 January 2004, the [[Grand National Assembly of Turkey]] passed a law that allowed for [[redenomination]] by the removal of six zeros from the Turkish lira, and the creation of a new currency. It was introduced on 1&nbsp;January 2005, replacing the previous Turkish lira (which remained valid in circulation until the end of 2005) at a rate of YTL&nbsp;1 ([[ISO&nbsp;4217]] code "TRY") = [[million|TL&nbsp;1,000,000]] in old lira (ISO&nbsp;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. At the same time, the Government introduced two new banknotes with the denominations of ₺50 and ₺100.

In the transition period between January 2005 and December 2008, the second Turkish lira was officially called ''Yeni Türk lirası'' ("New Turkish lira").<ref>{{cite web|author=Official Gazette of the Republic of Turkey|url=http://www.resmigazete.gov.tr/eskiler/2004/01/20040131.htm#3|title=Law on the Currency of the Republic of Turkey}}</ref> The letter "Y" in the currency code was taken from the Turkish word {{lang|tr|yeni}}, meaning ''new''. It was officially abbreviated "YTL" and subdivided into 100 new {{lang|tr|kuruş}} ({{lang|tr|yeni kuruş}}). Starting in January 2009, the "new" marking was removed from the second Turkish lira, its official name becoming just "Turkish lira" again, abbreviated "TL". All obverse sides of [[#Banknotes|current banknotes]] have portraits of [[Mustafa Kemal Atatürk]]. The reverse sides of all coins (except for ₺1 commemorative coins) have portraits of Mustafa Kemal Atatürk. Since 2012, 9 different ₺1 circulating commemorative coins were introduced.

=== 2018–present currency crisis ===
{{Main|Turkish economic crisis (2018–current)}}

In 2018, the lira's exchange rate deteriorated rapidly, reaching ₺4.5 per US dollar by mid-May and ₺4.9 a week later. Economists generally attributed the accelerating loss of value to [[Recep Tayyip Erdoğan]] preventing the [[Central Bank of the Republic of Turkey]] from making necessary interest rate adjustments.<ref name="wapo">{{cite news|url=https://www.washingtonpost.com/news/wonk/wp/2018/05/16/turkeys-leader-is-helping-to-crash-its-currency/|title=Turkey's leader is helping to crash its currency|date=16 May 2018|newspaper=Washington Post}}</ref><ref>{{cite web|url=https://www.ft.com/content/e41a56d6-5855-11e8-bdb7-f6677d2e1ce8|title=Investors lose their appetite for Turkey|date=16 May 2018 |work=[[Financial Times]]}}</ref> Erdoğan, who claimed interest rates beyond his control to be "the mother and father of all evil", stated that "the central bank can't take this independence and set aside the signals given by the president."<ref name="wapo" /> Despite Erdoğan's apparent opposition, Turkey's Central Bank raised interest rates sharply.<ref>{{cite news |title=Turkey's Central Bank Raises Interest Rates |url=https://www.nytimes.com/2018/09/13/business/turkey-central-bank-interest-rates-erdogan.html |work=The New York Times |date=13 September 2018 |access-date=13 Sep 2018|last1=Alderman |first1=Liz |last2=Rao |first2=Prashant S. }}</ref>

As of 2020, the Turkish lira lowered in value, with the currency going through a process of [[Currency appreciation and depreciation|depreciation]], consistently reaching all-time lows. The Turkish lira depreciated by over 400% compared to the [[US dollar]] and the [[euro]] since 2008, largely due to Erdoğan's [[expansionism|expansionist]] foreign policy.<ref>{{Cite web |last=Gullo |first=M. T. |date=28 April 2012 |title=Turkey's Somalia Adventure: The Quest for Soft Power and Regional Recognition |url=https://www.researchturkey.org/turkeys-somali-adventure-the-quest-for-soft-power-and-regional-recognition/ |archive-url=https://web.archive.org/web/20230816181744/https://www.researchturkey.org/turkeys-somali-adventure-the-quest-for-soft-power-and-regional-recognition/ |archive-date=16 August 2023 |url-status=live |location=London |publisher=Centre for Policy Analysis and Research on Turkey (ResearchTurkey)}}</ref><ref>{{cite journal |last1=Arbaa|first1=Ofer|last2=Varon|first2=Eva|date=December 2019|title=Turkish currency crisis – Spillover effects on European banks|journal=Borsa Istanbul Review |volume=19 |issue=4 |pages=372–378 |doi=10.1016/j.bir.2019.07.003|doi-access=free}}</ref><ref>{{cite journal |last1=Kotil|first1=Erdoğan|date=24 January 2020|title=Exchange Rate Pass-Through Investigation for Turkish Economy|journal=Frontiers in Applied Mathematics and Statistics |volume=5 |article-number=66 |doi=10.3389/fams.2019.00066 |doi-access=free|s2cid=210865900}}</ref><ref>{{cite web|title=Turkish lira hits new record low as central bank holds rates|url=https://www.al-monitor.com/pulse/originals/2020/10/turkey-lira-new-low-central-bank-rates.html|access-date=2020-10-25 |website=Al-Monitor |date=22 October 2020 }}</ref><ref>{{cite web|title=The Turkish lira is on its worst losing streak since 1999|url=https://www.aljazeera.com/economy/2020/10/23/bb-the-turkish-lira-is-on-its-worst-losing-streak-since-1999|website=www.aljazeera.com}}</ref><ref>{{cite web|date=1 September 2020 |title=Turkey: Background andU.S. Relations In Brief|url=https://fas.org/sgp/crs/mideast/R44000.pdf|access-date=2020-10-25|website=fas.org}}</ref> Erdoğan has tried to fix the financial crisis with unorthodox banking methods.<ref>{{cite web|date=21 May 2020 |title=FDD &#124; Erdogan's Fourth Attempt to Take Over Turkey's Largest Private Bank|url=https://www.fdd.org/analysis/2020/05/21/erdogans-fourth-attempt-to-take-over-turkeys-largest-private-bank/|website=FDD}}</ref><ref>{{cite news|date=17 February 2020|title=Why Erdogan Aims to Seize Stake in No. 2 Turkish Bank |publisher=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2020-02-17/why-erdogan-aims-to-seize-stake-in-no-2-turkish-bank-quicktake}}</ref><ref>{{Cite web |url=https://investigativejournal.org/wp-content/uploads/2019/11/REPORT_v1.4.pdf |title=Erdogan's Long Arm in the US: Turkish Influence Operations Among American Muslims |access-date=25 October 2020 |archive-date=28 October 2020 |archive-url=https://web.archive.org/web/20201028205341/https://investigativejournal.org/wp-content/uploads/2019/11/REPORT_v1.4.pdf |url-status=dead }}</ref>

The Turkish lira partially recovered in early 2021 with the government's increase in interest rates. However, the currency began to crash due to [[inflation]] and [[Currency appreciation and depreciation|depreciation]] starting on 21 March 2021, after the sacking of Central Bank chief [[Naci Ağbal]]. The Turkish lira reached a then-all-time-low of ₺8.8 to the dollar on 4 June.<ref>{{cite web|title=Turkish lira remains volatile after surprise dip in inflation data|url=https://www.al-monitor.com/originals/2021/06/turkish-lira-remains-volatile-after-surprise-dip-inflation-data|website=Al-Monitor: The Pulse of the Middle East|date=3 June 2021 }}</ref><ref>{{cite web|title=Turkey's lira hits new low as investors lose faith|url=https://www.aljazeera.com/economy/2021/6/3/turkeys-lira-hits-new-low-as-investors-lose-faith|website=www.aljazeera.com}}</ref><ref>{{cite news |url=https://www.bloomberg.com/news/articles/2021-06-01/turkish-lira-weakens-past-8-77-to-fresh-record-versus-dollar |title=Erdogan Renews Rate-Cut Demands as Economy Erodes Support|website=[[Bloomberg News]]|date=June 2021}}</ref><ref>{{cite web|last=Turak|first=Natasha|date=2 June 2021|title=Turkish lira hits record low after Erdogan renews call for interest rate cuts|url=https://www.cnbc.com/2021/06/02/turkish-lira-hits-record-low-after-erdogan-renews-call-for-rate-cuts.html|publisher=[[CNBC]]}}</ref> The Turkish lira became one of the quickest [[Economic collapse|collapsing]] currencies of 2021.<ref>{{cite news|title=Turkey bulls are wrong footed after central bank hawks ouster|url=https://www.bloomberg.com/news/articles/2021-03-21/turkey-bulls-are-wrong-footed-after-central-bank-hawk-s-ouster|website=Bloomberg News|date=21 March 2021}}</ref><ref>{{cite web|title=Turkish lira plummets after Erdoğan fires hawkish central bank chief|url=https://ahvalnews.com/turkish-lira/turkish-lira-plummets-after-erdogan-fires-hawkish-central-bank-chief|website=Ahval}}</ref><ref>{{Cite web|url=https://ca.finance.yahoo.com/news/turkey-bulls-wrong-footed-central-135744218.html|title=Turkish Markets Slide as Agbal's Exit Stokes Lira Turmoil|website=ca.finance.yahoo.com}}</ref><ref>{{cite news|last=Cole|first=Wayne|title=Asia stocks mostly steady, weather Turkish lira squall|url=https://www.reuters.com/article/us-global-markets-idUSKBN2BD0UK|publisher=Reuters|date=22 March 2021}}</ref> The Turkish lira reached a new low of ₺8.9 to the dollar in September 2021.<ref>{{cite news |last1=Devranoglu|first1=Nevzat|last2=Kucukgocmen|first2=Ali|title=Lira hits record lows as rate cut sets Turkey on uncertain path |url=https://www.reuters.com/world/middle-east/lira-nears-record-low-after-rate-cut-sets-turkey-uncertain-path-2021-09-24/ |publisher=Reuters |date=24 September 2021}}</ref><ref>{{cite web |last=Koc |first=Cagan |date=September 27, 2021|title=Only Economist to Call Turkey Cut Sees Lower Rates, Weaker Lira|website=Bloomberg News|url=https://www.bloomberg.com/news/articles/2021-09-27/only-economist-to-call-turkey-cut-sees-lower-rates-weaker-lira}}</ref><ref>{{cite news|last1=Yackley|first1=Ayla Jean|last2=Stubbington|first2=Tommy|date=23 September 2021|title=Turkey cuts interest rate to send lira tumbling as inflation soars|newspaper=Financial Times |url=https://www.ft.com/content/ad0f061a-7494-4ff3-be30-c5e8436cfaa9}}</ref><ref>{{cite news|last=Ewing|first=Jack|date=23 September 2021|title=Turkey's currency hits a new low after a surprise interest rate cut.|newspaper=The New York Times |url=https://www.nytimes.com/2021/09/23/business/turkish-lira-today.html}}</ref> In late 2021, the Turkish lira began collapsing rapidly, with the exchange rate falling 9% against the US dollar, reaching an all-time low of ₺12.5 to the dollar.<ref>{{cite news|last=Hirtenstein|first=Jared Malsin and Anna|date=25 November 2021|title=Turks Abandon the Lira for Dollars as Currency Crisis Deepens|newspaper=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/turks-switch-savings-to-u-s-dollars-as-local-currency-collapses-11637859160}}</ref><ref>{{cite news|last1=Tuncay|first1=Ebru|last2=Gumrukcu|first2=Tuvan|date=25 November 2021|title=Turkish central bank, banks discuss rates after lira tumble|publisher=Reuters |url=https://www.reuters.com/markets/currencies/turkish-lira-rebounds-after-hitting-record-lows-2021-11-25/}}</ref><ref>{{cite web|author=Julia Horowitz, Isil Sariyuce and Jomana Karadsheh |title=Turkey is going its own way on inflation. The lira is crashing|date=24 November 2021 |url=https://www.cnn.com/2021/11/24/investing/turkish-lira-crash/index.html|publisher=CNN}}</ref><ref>{{cite web|title=Erdogan's credibility plunges along with lira – Al-Monitor: The Pulse of the Middle East|url=https://www.al-monitor.com/originals/2021/11/erdogans-credibility-plunges-along-lira|website=www.al-monitor.com|date=24 November 2021 }}</ref><ref>{{cite news|last=McNamara|first=Paul|date=24 November 2021|title=Turkey's lira plunge is a reminder of risks facing emerging markets|newspaper=Financial Times |url=https://www.ft.com/content/887232bf-ba46-47df-b5e4-05f05bdbc2e0}}</ref><ref>{{cite news |url=https://www.bloomberg.com/news/articles/2021-11-24/turkish-lira-gains-5-breaks-longest-losing-streak-in-20-years |title = Turkish Lira Takes Breather from Worst Losing Streak in 20 Years|website=Bloomberg News|date=24 November 2021}}</ref> The Turkish lira continued to collapse in December, with the [[inflation rate]] reaching unseen levels, collapsing to ₺14.5 to the US Dollar, losing nearly all of its original [[Value (economics)|value]].<ref>{{cite news|last=Gall|first=Carlotta|date=5 November 2021|title=As Turkey Chafes at Erdogan, He Gets Spikier Abroad|newspaper=The New York Times |url=https://www.nytimes.com/2021/11/05/world/middleeast/erdogan-turkey-cop26.html}}</ref><ref>{{cite news |url=https://www.bloomberg.com/news/articles/2021-12-01/ergogan-s-lira-desperation-shows-the-big-gamble-is-backfiring |title = Erdogan's Plan Backfires with 'Desperation' in Turkish Lira|website=Bloomberg News|date = December 2021}}</ref><ref>{{cite news|date=2 December 2021|title=Turkey risks further damage by using up 'borrowed' lira reserves – S&P Global|publisher=Reuters |url=https://www.reuters.com/world/middle-east/turkey-risks-further-damage-by-using-up-borrowed-lira-reserves-sp-global-2021-12-02/}}</ref><ref>{{cite web|last=Ng|first=Abigail|date=18 November 2021|title=Turkish lira hits all-time low before country's central bank meeting|url=https://www.cnbc.com/2021/11/18/currencies-turkish-lira-falls-central-bank-meeting.html|publisher=CNBC}}</ref><ref>{{cite news|title=Turkish Lira's Abrupt Fall Hits Turkmen Labor Migrants|url=https://www.rferl.org/a/turkish-lira-turkmen-migrants/31586767.html|newspaper=Radio Free Europe/Radio Liberty|date=30 November 2021 }}</ref> On 17 December, the lira fell by 8.5%, raising the [[exchange rate]] to ₺16.5 to the US dollar. Despite the [[currency collapse]], Erdoğan lowered interest rates down to 14% from 15%, causing the lira to lose half of its value since the start of 2021.<ref>{{cite web|url=https://www.theguardian.com/world/2021/dec/16/erdogan-intervenes-after-turkish-lira-sinks-to-lowest-level-against-dollar|title=Erdoğan intervenes after Turkish lira sinks to lowest level against dollar|date=16 December 2021|website=The Guardian}}</ref><ref>{{cite web|url=https://www.cnbc.com/2021/12/16/turkish-central-bank-cuts-rates-sending-lira-to-record-low.html|title=Turkish central bank cuts rates, sending lira to record low|first=Natasha|last=Turak|date=16 December 2021|publisher=CNBC}}</ref><ref>{{cite web|url=https://www.aljazeera.com/economy/2021/12/16/turkey-raises-minimum-wage-as-lira-crash-inflation-sow-hardship|title=Turkey raises minimum wage as lira crash, inflation sow hardship|first=Umar|last=Farooq|website=www.aljazeera.com}}</ref><ref>{{cite news|url=https://www.nytimes.com/2021/12/16/world/middleeast/turkish-lira-currency-erdogan-turkey.html |archive-url=https://ghostarchive.org/archive/20211228/https://www.nytimes.com/2021/12/16/world/middleeast/turkish-lira-currency-erdogan-turkey.html |archive-date=2021-12-28 |url-access=limited|title=Turkish Currency Hits a New Low, Again|first=Carlotta|last=Gall|newspaper=The New York Times |date=16 December 2021}}{{cbignore}}</ref><ref>{{cite news|url=https://www.reuters.com/markets/rates-bonds/turkish-lira-trades-near-record-low-after-rate-cut-fuels-slide-2021-12-17/|title=Turkey's currency crisis deepens after Erdogan's latest rate cut|first1=Daren|last1=Butler|first2=Nevzat|last2=Devranoglu|publisher=Reuters |date=17 December 2021}}</ref> The Turkish Lira continued to decline throughout 2022. The [[Central Bank of the Republic of Turkey|central bank]] governor [[Şahap Kavcıoğlu]] lowered interest rates by [[Basis point|150 basis points]], from 12% to 10.5%, down from the 2021 low of 15%.<ref>{{Cite web|url=https://www.cnbc.com/2022/10/20/turkey-slashes-interest-rates-by-150-basis-points-despite-inflation-at-83percent.html|title=Turkey slashes interest rates by 150 basis points despite inflation at 83%|first=Natasha|last=Turak|website=CNBC|date=20 October 2022 }}</ref><ref>{{cite journal |last1=Hadi |first1=Dlawar Mahdi |last2=Karim |first2=Sitara |last3=Naeem |first3=Muhammad Abubakr |last4=Lucey |first4=Brian M. |title=Turkish Lira crisis and its impact on sector returns |journal=Finance Research Letters |date=March 2023 |volume=52 |article-number=103479 |doi=10.1016/j.frl.2022.103479 |s2cid=253433507 }}</ref> The [[Inflation targeting|official inflation]] rate of the Lira through 2022 reached 83%, but [[Monetary policy|independent reviews]] of the Turkish lira put the inflation rate even higher.<ref>{{Cite web|url=https://apnews.com/article/inflation-middle-east-prices-164083d3fab438f044dec178c678489c|title=Turkey's annual inflation passes 80% after interest rate cut|date=September 5, 2022|via=Associated Press}}</ref><ref>{{Cite news|url=https://www.reuters.com/world/middle-east/turkish-lira-flat-after-shock-rate-cut-weakening-2022-08-19/|title=Turkish lira slips toward record low in post-rate-cut selloff|first1=Ezgi|last1=Erkoyun|first2=Nevzat|last2=Devranoglu|newspaper=Reuters |date=19 August 2022|via=www.reuters.com}}</ref> 

In 2023, Erdoğan began to follow orthodox banking methods. Under the guidance of [[Mehmet Şimşek]] and [[Hafize Gaye Erkan]], the central bank began to rapidly increase interest rates. By the end of the year, the interest rate stood at 42.5%,<ref>{{Cite web|url=https://www.tcmb.gov.tr/wps/wcm/connect/en/tcmb+en/main+menu/announcements/press+releases/2023/ano2023-51|title=Press Release on Interest Rates (2023-51)|date=21 December 2023|via=Central Bank of the Republic of Türkiye}}</ref> and the annual inflation rate decreased to 53.86%, down from 83% in 2022.<ref>{{Cite web|url=https://www.macrotrends.net/global-metrics/countries/tur/turkey/inflation-rate-cpi|title=Turkey Inflation Rate 1960-2024|via=Macrotrends}}</ref> The central bank increased the interest rate to 50% in March 2024 under [[Fatih Karahan]], the new governor, and has kept it as such as for eight consecutive months.<ref>{{Cite web|url=https://www.euronews.com/business/2024/11/21/central-bank-of-turkey-keeps-key-interest-rate-unchanged|title=Central Bank of Turkey keeps key interest rate unchanged|via=Euronews|first=Indrabati|last=Lahiri |date=21 November 2024 }}</ref> This has resulted in the lira gaining value since May, when inflation peaked at 75.45%, but has decreased to 47.09% in November.<ref>{{Cite web|url=https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Statistics/Inflation+Data/Consumer+Prices|title=Consumer Prices|via=Central Bank of the Republic of Türkiye}}</ref> Many investors have regained trust in the [[Central Bank of the Republic of Turkey]].<ref>{{cite web|url=https://www.reuters.com/world/middle-east/turkish-annual-inflation-falls-more-than-expected-4438-2025-01-03/|title=Turkish inflation falls more than expected|website=reuters.com}}</ref><ref>{{Cite web|url=https://www.asktraders.com/analysis/turkeys-central-bank-cuts-rates-lira-outlook-improves-with-inflation/|title=Turkey's Central Bank Cuts Rates - Lira Outlook Improves With Inflation|first=Asktraders News|last=Team|date=26 December 2024}}</ref> Following the arrest of the mayor of Istanbul, [[Ekrem Imamoglu]], in March 2025, [[MarketWatch|Marketwatch]] reported that the Turkish lira reached a record low.<ref>{{Cite web |last=Chisholm |first=Jamie |date=2025-03-19 |title=Turkish president's main rival is arrested. The lira is crashing. |url=https://www.marketwatch.com/story/turkish-presidents-main-rival-is-arrested-the-lira-is-crashing-1b9ec08c |access-date=2025-03-19 |website=MarketWatch |language=EN-US}}</ref>

==Coins==
{{Main|Coins of Turkey}}

From 1 January 2009, the prefix "new" was removed from the second Turkish lira, its official name in Turkey becoming "Turkish lira" again;<ref>{{cite web |url=http://www.tcmb.gov.tr/yeni/announce/2007/ANO2007-10.htm |title=Public Announcement As to the Removal of the Prefix "New" From The New Turkish Lira |url-status=dead |archive-url=https://web.archive.org/web/20080325014508/http://www.tcmb.gov.tr/yeni/announce/2007/ANO2007-10.htm |archive-date=25 March 2008 |df=dmy-all }}</ref> new coins without the word "''yeni''" were introduced in denominations of 1kr., 5kr., 10kr., 25kr., 50kr. and ₺1. Also, the center and ring alloys of the 50kr. and ₺1 coins were reversed.

{|class="wikitable" style="font-size: 90%; width: 100%"
!colspan="14"|Current Turkish lira coins [http://www.darphane.gov.tr/en/products_new.php?parent_id=853&content_id=1354]
|-
!colspan="2"| Image !!rowspan="2"| Value<br />(''kuruş'')!!colspan="4"| Technical parameters !!colspan="4"| Description !!colspan="2"| Date of
|-
! Obverse !! Reverse !! Diameter<br />(mm)!! Thickness<br />(mm)!! Mass<br />(g) !! Composition !! Edge !!colspan="2"| Obverse !! Reverse !! first minting !! issue
|- style="text-align:center;"
| style="background:#000;"| [[File:1kr obverse.png|42px]]
| style="background:#000;"| [[File:1kr reverse.png|42px]]
|1kr.
|16.5
|1.35
|2.2
|70% [[Copper|Cu]], 30% [[Zinc|Zn]]
|rowspan="3"|Plain
| rowspan="7" |Value, [[Star and crescent|Crescent-star]], year of minting
|[[Galanthus|Snowdrop]]
| rowspan="7" |{{lang|tr|"TÜRKİYE CUMHURİYETİ"}},<br /> ''[[Mustafa Kemal Atatürk]]''
|rowspan="6"|2008
|rowspan="6"|1 January 2009
|- style="text-align:center;"
| style="background:#000;"| [[File:5kr obverse.png|45px]]
| style="background:#000;"| [[File:5kr reverse.png|45px]]
|5kr.
|17.5
|rowspan="3"|1.65
|2.9
|rowspan="3"|65% [[Copper|Cu]], 18% [[Nickel|Ni]], 17% [[Zinc|Zn]]
|[[Tree of life#Turkic|Tree of life]]
|- style="text-align:center;"
| style="background:#000;"| [[File:10kr obverse.png|47px]]
| style="background:#000;"| [[File:10kr reverse.png|47px]]
|10kr.
|18.5
|3.15
|[[Rumi]] motif
|- style="text-align:center;"
| style="background:#000;"| [[File:25kr obverse.png|51px]]
| style="background:#000;"| [[File:25kr reverse.png|51px]]
|25kr.
|20.5
|4
|Reeded
|[[Kufic|Kufic calligraphic]]
|- style="text-align:center;"
| style="background:#000;"| [[File:50kr obverse.png|60px]]
| style="background:#000;"| [[File:50kr reverse.png|60px]]
|50kr.
|23.85
|rowspan="3"|1.9
|6.8
|Ring: 65% [[Copper|Cu]], 18% [[Nickel|Ni]], 17% [[Zinc|Zn]]<br />Center: 79% [[Copper|Cu]], 17% [[Zinc|Zn]], 4% [[Nickel|Ni]]
|Large reeded
|[[Bosphorus Bridge]] and [[Istanbul]] [[silhouette]]
|- style="text-align:center;"
| style="background:#000;"| [[File:1TL obverse.png|65px]]
| style="background:#000;"| [[File:1TL reverse.png|65px]]
|₺1
|26.15
|8.2
|Ring: 79% [[Copper|Cu]], 17% [[Zinc|Zn]], 4% [[Nickel|Ni]]<br />Center: 65% [[Copper|Cu]], 18% [[Nickel|Ni]], 17% [[Zinc|Zn]]
|inscribed, T.C. letters and [[tulip]] figure
|[[Rumi]] motif
|- style="text-align:center;"
| style="background:#000;"| [[File:5 TL 2023 ön.png|70px]]
| style="background:#000;"| [[File:5 TL 2023 arka.png|70px]]
|₺5
|28.15
|8.25
|Ring: 64% [[Copper|Cu]], 32% [[Zinc|Zn]], 4% [[Nickel|Ni]]<br />Center: 64% [[Copper|Cu]], 27% [[Nickel|Ni]], 9% [[Zinc|Zn]]
|Large reeded
|[[Seljuk star]], Türkiye Centenary logo
|2023
|29 October 2023
|-
|colspan="14"|{{Standard coin table notice|standard_scale=Y|BrE=Y}}
|}

===Circulating commemorative coins===
Since 2012, the Turkish State Mint has introduced ten commemorative coins in circulation.

<gallery mode="packed">
File:1TL Sayıştay 150th reverse.png|150th anniversary of [[Court of Accounts (Turkey)|Court of Accounts]] (2012)
File:1TL Turkish Olympics reverse.png|10th [[International Turkish Olympiad]]<ref>{{cite web|access-date=1 January 2021|archive-date=24 December 2017|archive-url=https://web.archive.org/web/20171224022022/http://www.diken.com.tr/darphane-acikladi-piyasada-1-milyon-adet-turkce-olimpiyatlari-parasi-var/|date=21 December 2017|language=en-US|title=Darphane açıkladı: Piyasada 1 milyon adet 'Türkçe Olimpiyatları' parası var|url=http://www.diken.com.tr/darphane-acikladi-piyasada-1-milyon-adet-turkce-olimpiyatlari-parasi-var/|work=Diken}}<!-- auto-translated by Module:CS1 translator --></ref> (2012)
File:1TL July 15 reverse.png|Commemorative coin for martyrs and veterans of [[2016 Turkish coup d'état attempt|July 15th]] (2016)
File:1TL Hagia Sophia reverse.png|Commemoration of [[Hagia Sophia]]'s reversion to mosque (2020)
File:Gaziantep hatıra parası.png|100th year of honoring [[Gaziantep|Antep province]] with the [[Ghazi (warrior)|ghazi]] title<ref>{{cite web|access-date=27 March 2021|archive-date=3 April 2021|archive-url=https://web.archive.org/web/20210403161734/https://www.sabah.com.tr/yasam/2021/02/07/100-yil-hatirasi-olumsuzlestirildi|language=tr|title=100. yıl hatırası ölümsüzleştirildi!|url=https://www.sabah.com.tr/yasam/2021/02/07/100-yil-hatirasi-olumsuzlestirildi|url-status=live|work=Sabah}}<!-- auto-translated by Module:CS1 translator --></ref> (2021)
</gallery>

* 2018: Commemoration of inauguration ceremony of the [[President of Turkey|President]] [[Recep Tayyip Erdoğan]]
* 2020: 100th anniversary of [[Grand National Assembly of Turkey]]
* 2022: Commemoration of the opening ceremony of [[1915 Çanakkale Bridge]]
* 2022: 100th anniversary of the [[Great Offensive]]
* 2023: [[100th Anniversary of the Republic of Turkey|100th years of the republic]] (5 lira)

==Banknotes==
{{Main|Banknotes of Turkey}}

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 "Turkish lira" rather than "new Turkish lira" and include a new ₺200 denomination.<ref>{{cite web |url=http://www.tcmb.gov.tr/yeni/announce/2007/ANO2007-10.htm |title=Public Announcement As to the Removal of the Prefix "New" From The New Turkish Lira |access-date=5 January 2008 |author=Türkiye Cumhuriyet Merkez Bankasi (Central Bank of the Republic of Turkey) |date=8 May 2007 |work=Official Gazette |number=26516 |page=103 |publisher=TCMB |url-status=dead |archive-url=https://web.archive.org/web/20080325014508/http://www.tcmb.gov.tr/yeni/announce/2007/ANO2007-10.htm |archive-date=25 March 2008 |df=dmy-all}}</ref> The new banknotes have different sizes to prevent forgery.<ref>{{cite web| work=Turkish Daily News | date=15 September 2006 | url=http://www.turkishdailynews.com.tr/article.php?enewsid=54176 | title=TL banknotes to be in circulation in 2009 | access-date=28 September 2006 | archive-url=https://web.archive.org/web/20070930170901/http://www.turkishdailynews.com.tr/article.php?enewsid=54176 | archive-date=30 September 2007}}</ref> 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.<ref>{{cite news|url=http://www.ntvmsnbc.com/news/461129.asp|access-date=22 March 2012|title=Türk Lirası'nda yeni yüzler|work=[[NTV-MSNBC]]|language=tr|date=3 October 2008|agency=[[Anadolu Agency]]}}</ref> The dominant color of the 5-Turkish-lira banknote has been determined as "purple" on the second series of the current banknotes.<ref>{{cite web |url=http://www.tcmb.gov.tr/yeni/announce/2013/ANO2013-15.htm |title=Press Release on the Issue of E-9 Emission Group II. Series Turkish Lira Banknotes |access-date=4 September 2013 |author=Türkiye Cumhuriyet Merkez Bankasi (Central Bank of the Republic of Turkey) |date=2 April 2013 |publisher=TCMB |url-status=dead |archive-url=https://web.archive.org/web/20130929031542/http://www.tcmb.gov.tr/yeni/announce/2013/ANO2013-15.htm |archive-date=29 September 2013 |df=dmy-all}}</ref>

{|class="wikitable" style="font-size: 90%; width: 100%"
|-
! colspan="13" style="text-align: center" | Current Turkish lira banknotes [https://web.archive.org/web/20121123055745/http://www.tcmb.gov.tr/yeni/banknote/E9/INDEX9.php 9. Emission Group]
|- style="text-align: center"
!colspan="2"| Image !!rowspan="2"| Value<br />(₺)!!rowspan="2"| Dimensions<br />(mm)!!rowspan="2" colspan="2"| Main Colour !!colspan="3"| Description !!rowspan="2"| Date of issue
|-
! Obverse !! Reverse !! Obverse !! Reverse !! Watermark
|- style="text-align:center;"
| style="background:#000;"| [[File:5 Türk Lirası front.jpg|91px]]
| style="background:#000;"| [[File:5 Türk Lirası reverse.jpg|91px]]
|rowspan="2"|5
|rowspan="2"|130 × 64
| style="background:#964b00;"|
|Brown
|rowspan="7"|[[Mustafa Kemal Atatürk]]
|rowspan="2"|[[Aydın Sayılı]]:<br />solar system, atom, left-handed [[Z-DNA]] helix.
|rowspan="7"|[[Mustafa Kemal Atatürk]], value
|1 January 2009
|- style="text-align:center;"
| style="background:#000;"| [[File:5-II Türk Lirası front.jpg|91px]]
| style="background:#000;"| [[File:5-II Türk Lirası reverse.jpg|91px]]
| style="background:#656182;"|
|Purple
|8 April 2013
|- style="text-align:center;"
| style="background:#000;"| [[File:10 Türk Lirası front.jpg|95px]]
| style="background:#000;"| [[File:10 Türk Lirası reverse.jpg|95px]]
|10
|136 × 64
| style="background:#de3163;"|
|Red
|[[Cahit Arf]]:<br />[[Arf invariant]], arithmetic series, abacus, [[Binary numeral system|binary]] sequence
|rowspan="5"|1 January 2009
|- style="text-align:center;"
| style="background:#000;"| [[File:20 Türk Lirası front.jpg|99px]]
| style="background:#000;"| [[File:20 Türk Lirası reverse.jpg|99px]]
|20
|142 × 68
| style="background:#009f6b;"|
|Green
|[[Mimar Kemaleddin]]:<br />[[Gazi University]] main building, aqueduct, circular motif and cube-globe-cylinder symbolizing architecture
|- style="text-align:center;"
| style="background:#000;"| [[File:50 Türk Lirası front.jpg|104px]]
| style="background:#000;"| [[File:50 Türk Lirası reverse.jpg|104px]]
|50
|148 × 68
| style="background:#ef9b0f;"|
|Orange
|[[Fatma Aliye Topuz]]:<br />flower and literary figures
|- style="text-align:center;"
| style="background:#000;"| [[File:100 Türk Lirası front.jpg|108px]]
| style="background:#000;"| [[File:100 Türk Lirası reverse.jpg|108px]]
|100
|154 × 72
| style="background:#27a;"|
|Blue
|[[Buhurizade Itri]]:<br />musical notes, instruments and [[Mevlevi Order|Mevlevi]] figure
|- style="text-align:center;"
| style="background:#000;"| [[File:200 Türk Lirası front.jpg|112px]]
| style="background:#000;"| [[File:200 Türk Lirası reverse.jpg|112px]]
|200
|160 × 72
| style="background:#8000a3;"|
|Pink
|[[Yunus Emre]]:<br />Yunus's mausoleum, rose, pigeon and the line "''Sevelim, sevilelim''" (Let us love, let us be loved)
|-
|colspan="13"|{{Standard banknote table notice|standard_scale=Y|BrE=Y}}
|}

==Currency sign==
{{Main|Turkish lira sign}}
{{multiple image|total_width=250
|image1=Turkish lira symbol black.svg|caption1=Turkish lira sign
|image2=Turkish Lira Construction.svg|caption2=Design limits<ref>{{cite web|url=http://www.tcmb.gov.tr/yeni/iletisimgm/TLSimge/TLSimge_teknik.jpg|title=TLSimge|publisher=Central Bank of the Republic of Turkey|access-date=31 January 2013|url-status=dead|archive-url=https://web.archive.org/web/20130224033113/http://www.tcmb.gov.tr/yeni/iletisimgm/TLSimge/TLSimge_teknik.jpg|archive-date=24 February 2013|df=dmy-all}}</ref>
}}

The lira was originally symbolised as '''TL''', inverting the characters of the Ottoman lira's sign, '''LT''', which stood for "{{lang|fr|Livre Turque}}" in [[French language|French]]. Historically English language sources used "£T"<ref>{{Cite EB1911|wstitle= Pound |volume= 22 | pages = 221–222; see page 221|quote= Pound.— |short= 1}}</ref><ref>{{cite web | url=https://books.google.com/books?id=vzZ71Eh5QvMC&dq=%22Turkish+pound%22&pg=PR25  | title=Middle East Record Volume 2 | date=1961 | last1=Oron | first1=Yitzhak }}</ref> or "T£"<ref>{{cite web | url=https://archive.org/details/sim_insurance-law-journal_1952-12_359/page/846/mode/2up?q=T%C2%A3+turkish+lira | title=The Insurance Law Journal 1952-12: Iss 359 | date=December 1952 }}</ref> for the currency, but it is unknown whether this notation was ever used within Turkey.

The current currency sign of Turkish lira was created by the [[Central Bank of the Republic of Turkey]] in 2012. The new sign was selected after a country-wide contest.<ref name="SignContest2011">{{cite web |url=http://www.tcmb.gov.tr/yeni/duyuru/2011/TLsartname.pdf |title=TL SİMGE YARIŞMASI ŞARTNAMESİ |access-date=9 September 2011 |publisher=Türkiye Cumhuriyeti Merkez Bankası |language=tr |date=October 2011}}</ref> The new symbol is composed of the letter ''L'' shaped like a half anchor, and embedded double-striped letter ''T'' angled at 20 degrees.

The design, created by Tülay Lale, was endorsed after a country-wide competition. It was chosen as the winner from a shortlist of seven submissions to the board of the Central Bank, selected from a total of 8,362 entries. The symbol resembles the first letter of the Turkish monetary unit, ''L'', in the form of a half [[anchor]] with double stroke.<ref>{{cite web|url=http://www.tcmb.gov.tr/yeni/iletisimgm/Bulten25.php|title=TL Simgesi Açıklandı|newspaper=[[Central Bank of the Republic of Turkey]]|date= March 2012 |volume=25|access-date=2012-03-01|archive-url=https://web.archive.org/web/20120417164438/http://www.tcmb.gov.tr/yeni/iletisimgm/Bulten25.php|archive-date=2012-04-17|url-status=dead|language=tr}}, page 6.</ref><ref>{{cite news|url=http://www.tcmb.gov.tr/yeni/duyuru/2012/Baskan_simge.php|title=Başkan Başçı'nın TL Simge Yarışması Basın Toplantısında Yaptığı Konuşma|access-date=2012-03-01|archive-url=https://web.archive.org/web/20120303212406/http://www.tcmb.gov.tr/yeni/duyuru/2012/Baskan_simge.php|archive-date=2012-03-03|url-status=dead|publisher=Türkiye Cumhuriyet Merkez Bankası|language=tr}}</ref><ref>{{cite news|url=http://www.haber7.com/haber/20120301/Turk-Lirasinin-yeni-simgesi-aciklandi.php|title=Türk lirasının yeni simgesi açıklandı|newspaper=Haber 7|access-date=2012-03-04|language=tr}}</ref><ref>{{cite news|url=http://www.hurriyetdailynews.com/brand-new-turkish-lira-sign-revealed---.aspx?pageID=238&nID=15000&NewsCatID=346|title=Brand new Turkish Lira sign revealed|date=2012-03-01|newspaper=[[Hürriyet Daily News]]|access-date=2012-03-04}}</ref><ref name="h2">{{cite news|url=http://www.hurriyet.com.tr/ekonomi/20039341.asp|title=Dünyada TL kullanımı 3'e katlandı, 'çıpa'lı simge 'güvenli liman' mesajı oldu|date=2012-03-02|newspaper=[[Hürriyet]]|access-date=2012-03-04|language=tr}}</ref>

Prime Minister [[Recep Tayyip Erdoğan]] announced the new symbol on 1 March 2012.<ref>[http://www.todayszaman.com/news-273024-pm-erdogan-announces-symbol-for-turkish-lira.html "PM Erdoğan announces symbol for Turkish lira"], TodaysZaman.com, 1 March 2012</ref> At its unveiling, Erdoğan explained the design as "the anchor shape hopes to convey that the currency is a 'safe harbour' while the upward-facing lines represent its rising prestige".<ref>[http://www.todayszaman.com/news-272940-.html "Turkey unveils symbol for national currency"] {{Webarchive|url=https://web.archive.org/web/20121127092907/http://www.todayszaman.com/news-272940-.html |date=27 November 2012 }}, TodaysZaman.com, 1 March 2012</ref>

Faik Öztrak, vice chairman of the main opposition party [[Republican People's Party|CHP]], alleged that the new sign resembles the initials ''TE'' of then-prime minister Tayyip Erdoğan in a reference to the [[tughra]] of [[Ottoman Empire|Ottoman]] sultans.<ref>{{cite news|url=http://www.hurriyet.com.tr/ekonomi/20035186.asp|title=CHP'den, TL simgesi için ilginç iddia|date=2012-03-01|newspaper=[[Hürriyet]]|access-date=2012-03-04|language=tr}}</ref> The new Turkish lira sign was also criticized for allegedly showing a similarity with an upside-down [[Armenian dram sign]].<ref name="h2"/><ref>{{cite news|url=http://www.hurriyet.com.tr/ekonomi/20038979.asp|title=Paramızın artık haysiyeti var faizlerin daha da inmesi lazım|date=2012-03-02|newspaper=[[Hürriyet]]|access-date=2012-03-04|language=tr}}</ref>

In May 2012, the [[Unicode Technical Committee]] accepted the encoding of a new character {{unichar|20BA|Turkish lira sign}} for the currency sign,<ref>{{cite web|url=https://www.unicode.org/mail-arch/unicode-ml/y2012-m05/0076.html |title=Unicode 6.2 to Support the Turkish Lira Sign from announcements_at_unicode.org on 15 May 2012 (Unicode Mail List Archive) |publisher=Unicode.org |date=15 May 2012 |access-date=31 January 2013}}</ref> which was included in Unicode 6.2 released in September 2012.<ref>{{cite web|url=https://www.unicode.org/versions/Unicode6.2.0/ | publisher=The Unicode Consortium|date=23 October 2012 | title=Unicode 6.2.0 }}</ref> On [[Microsoft Windows]] [[operating system]]s, when using [[QWERTY#Turkish|Turkish-Q]] or [[Keyboard layout#Turkish (F-keyboard)|Turkish-F]] [[keyboard layout]]s, it can be typed with the combination {{keypress|[[AltGr key|AltGr]]|T}}.<ref>{{Cite web |date=2024-10-24 |title=Turkish Q Keyboard |url=https://learn.microsoft.com/en-us/globalization/keyboards/kbdtuq |access-date=2025-08-16 |website=Microsoft}}</ref>

==Circulation==
{{Most traded currencies}}

==Current exchange rates==
{{Exchange Rate|TRY|AZN|NZD|RUB}}

== See also ==
{{Portal bar|Asia|Europe|Money|Numismatics|Turkey}}
* [[Banknotes of Turkey]]
* [[Coins of Turkey]]
* [[Economy of Turkey]]
* [[Economy of Northern Cyprus]]
* [[Ottoman lira]]

== Notes ==
<references group="lower-alpha" />
== References ==
{{Reflist}}

== Further reading ==
* {{Numis cite SCWC |date=1991}}
* {{Numis cite SCWPM |date=1994}}
* {{Cite book |author=Sevket Pamuk |year=2000 |title=A Monetary History of the Ottoman Empire |publisher=Cambridge University Press |isbn=0-521-44197-8 }}

== External links ==
{{Commons category}}
* [http://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Banknotes/Banknotes+in+Circulation+and+Their+Security+Features/3-Series-Turkish-Lira/5+Turkish+Lira/ Turkish Central Bank (Banknote Museum page)]
* [https://web.archive.org/web/20171126113659/http://www.tcmb.gov.tr/wps/wcm/connect/TCMB+TR/TCMB+TR/Bottom+Menu/Diger+Faaliyetler/TL+Simgesi TL Simge]—Turkish lira sign page of the Central Bank of the Republic of Turkey website
* [https://web.archive.org/web/20111218154514/http://www.tcmb.gov.tr/tlkampanya/download/tl_profesyonel_specimen.pdf Detailed information on the Turkish lira banknotes and coins in circulation since 2009]
* [http://www.turknumismatik.org.tr/ Turk Numismatics]
* [http://www.turkishliratoday.com/ Turkish Lira Today]
* [http://banknoter.com/s/turkey Turkey Banknotes Catalog | Turkish Lira since 1923]
* [http://www.bis-ans-ende-der-welt.net/Tuerkei-B-En.htm Historical and current banknotes of Turkey] {{in lang|en|de|fr}}

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{{Northern Cyprus topics}}
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[[Category:Economy of Northern Cyprus]]
[[Category:Economy of the Ottoman Empire]]
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[[Category:Circulating currencies]]
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[[Category:Pound (currency)]]