Turkish currency: history, modernity and exchange rate

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Turkey's currency is the Turkish lira. However, for the most part, few tourists saw her live. This is due to the fact that in the areas designated for recreation (including foreign citizens) many currencies are simultaneously distributed, the number of which is most often equal to the number of representatives of vacationing countries. So, in the same store you can easily pay in rubles, dollars, euros or the same Turkish lira.

History of Appearance

Back in 1923, the Turkish reformer Ataturk decided to replace the Ottoman lira that existed at that time with a more modern version - the Turkish lira. This is far from the first replacement of the national currency in this country, since the replaced Ottoman lira lasted only 79 years (although it was in use for another 4 years, simultaneously with the Turkish one). In turn, even before this currency, there were kurush, which were also a means of payment and quitefor a long time successfully walked in the country on a par with other monetary units.

However, the government of the described country did not calm down, and very soon another currency was introduced. It should be noted that the Ottoman lira used until 1923 was quite a serious coin for a country like Turkey. The monetary unit, the exchange rate of which, as of 1902, was equal to more than 4.5 dollars, could not be different by definition, but it was very outdated and at that time did not meet the needs of the country in any way. And this despite the fact that it was the Ottoman lira that was the first currency in this country printed on paper.

New Turkish Lira

At the end of the twentieth - beginning of the twenty-first century, an economic crisis broke out in the country, as a result of which the currency of Turkey practically depreciated. However, quite effective reforms were undertaken by the government of the country, as a result of which a new currency appeared in 2005: the new Turkish lira. Since 2009, the prefix “new” has officially gone out of use, at the moment the Turkish currency is simply called the “Turkish lira”, without any prefixes. However, during the transition period (all three years, starting from 2005 and ending in 2008), this money was also officially called not the new Turkish lira, but simply the lira, which is why many are still confused in the names, although if you look, everything is not so difficult.

Turkish currency in modern times

CurrentlyAt the moment, the same currency still circulates in this country, while there are no prerequisites for the next replacement. The monetary unit of Turkey relates to the ruble at the rate of approximately 0.05. That is, for one hundred rubles (as of the date of this writing) you can buy about 5-6 Turkish liras. True, given the rarity of circulation of this currency anywhere except directly in Turkey, the chance to buy it in the CIS is rather small, which does not interfere with trying to look, especially since at this stage Russia and Turkey are starting to cooperate quite actively, and the likelihood that that the Turkish currency will appear on free sale is quite high.

It should be noted that banknotes with denominations from 5 to 200 lira are currently in circulation, as well as coins that are still called kurush (like kopeks in Russia) and whose ratio to the lira is 100 to 1. These coins are issued on metal and go in denominations from 1 to 50 kurush. An interesting fact is that, unlike many countries that print either presidents or monuments (historical or natural) on their banknotes, on the coins of Turkey, absolutely on all, the same portraits of Mustafa Kemal Ataturk himself are depicted. Among other things, there is another metal coin, worth 1 lira, made using bimetallic technology, with exactly the same portrait on it.

Appearance of paper liras

The banknote of 5 lira is made in brown color and has the smallest dimensions relative to other paper money of this country. In the same way as on coins, on the obverse isthe unchanging portrait of Ataturk, and on the back - a fragment of a DNA chain, a fragment of the solar system, a portrait of Professor Aydin Sayyly and the structure of the atom.

The second worthy banknote - 10 lira - is red in color, on the reverse side of which are depicted mathematical formulas and another professor - Cahita Arfa. On the obverse, as on all other banknotes, - Ataturk.

The 20 lira paper note boasts a greenish color and images of a cylinder, a cube, a ball, a university building in Gazi, an aqueduct and a portrait of Mimar Kemaleddin.

The subsequent denominations are made in orange, blue and lilac colors. They depict portraits of the famous Turkish writer, musician and poet. The portraits are accompanied by the appropriate tools: pens, paper, musical signs, and so on.

Where else is the Turkish lira in circulation?

Except directly in Turkey, this currency is in circulation in one and only country, recognized, in fact, only by the same Turkey. It is called the Turkish Republic of Northern Cyprus and is located on the northern part of the island of the same name.

Results

We found out what is the currency in Turkey. Officially - the Turkish lira, but you can buy anything for almost any other more or less common currency of different countries, including the ruble. However, given that the currency of Turkey, the exchange rate of which is 0.05 against the ruble, is rare on sale, much more profitable,it turns out to buy dollars or euros and go to this country already with them.

Don't worry about finding a place where you can change them, everything that will be available for sale, any tourist can buy for these currency options without losing anything on the exchange rate difference. An interesting fact is that only in 2012, the Turkish currency had its own sign, similar to the world-famous dollar or euro sign, however, it has not yet received wide distribution, despite the fact that it was included in the Unicode standard.