Currency Rates for Turkish Lira
Currency Exchange Rates for Turkish Lira- Currency Information on TRY for Turkey - ₺. The foreign exchange currency code for TRY represents the Turkish Lira exchange rate.
The Turkish lira subdivides into 100 kurus and was first introduced in 1923, in 1995, the lira was the world’s least valuable currency, and it was revalued in 2005, removing 6 zeros and creating a new currency.
Send Money Transfer to Turkey. Coins are available in values of 1, 5, 10, 25 and 50 kurus, though the 1kr coins are not frequently used. There is also a 1 lira coin.
Banknotes in denominations of 5, 10, 20, 50, 100 and 200 liras are currently is circulation.
GBP to TRY
Turkish Lira, abbreviated as TL, is the official currency of the Turkish Republic of Northern Cyprus and Turkey. The Turkish Lira is subdivided into 100 kurus. In addition, the currency has a banknotes' denomination starting with 5, 10, 20, 50, 100 as well as 200 liras. When comes to coins, they are present in values of 1, 5, 10, 25 and 50 kurus. However, some coins, such as 1kr, are not commonly used. 1 lira coin is also available. In 1995, the Turkish Lira was regarded as the least valuable currency across the globe. To regain its lost value, in 2005, the Turkish Lira was revalued by deleting six zeros and generating a fresh currency.
It is worth noting that lira together with other related currencies of the Middle East and Europe have their roots in the Ancient Roman weights unit called libra, which means a Try pound of silver. Many nations across the Europe and near east embraced libra, making it spread fast. Conversely, in 1844, the Ottoman lira was introduced, but it did not last long, as, in 1923, the First Turkish lira was introduced and adopted. This was an indication to an end of the era for the other currencies, which were fully eliminated from the circulation in 1927.
The Turkish Lira was able to peg the French franc and the British pound, where a peg of 2.8 Turkish Lira was equivalent to 1 U.S. dollar in 1946. The Turkish Lira was able to maintain its value until 1960 when it started to depreciate at an alarming rate. In 1966, 9 Turkish Lira was equivalent to 1 U.S. dollar, and in 2001, 1,650,000 Turkish Lira was equal to 1 U.S. dollar.
The depreciating level of Turkish Lira necessitated an immediate evaluation, which was done in 2005. The Grand National Assembly of Turkey permitted the re-denomination by eliminating six zeros from the Turkish Lira. A new currency was introduced on 1 January 2005, known as Yeni TÃ¼rk LirasÄ± or the New Turkish lira and was abbreviated as YTL. The government came out with two banknotes, namely TRY100 and TRY50. However, in January 2009, Yeni TÃ¼rk LirasÄ± was rebranded to its original name, Turkish lira, abbreviated as TL. Currently, 1 U.S dollar is trading at 3.62 Turkish Lira.
Bank Exchange Rates for Turkish Lira. The foreign exchange rates for Turkey also known as the ISO code TRY. Send money transfer online with us with the cheapest options.