The Turkish Lira is the currency of the Republic of Turkey and the Turkish Republic of Northern Cyprus. From 2005 to the end of 2008 it was officially called Turkish Lira (yeni türk lirası); this was unit replaced by a currency conversion to 1. The Turkish Lira was introduced on 31 January 2005, with one Million Turkish lira converted into a new Turkish Lira. The currency had its lowest value against the Euro so far on 6 December 2007.
The times of the Ottoman Empire common currency, the Akçe, which was later replaced by the Kuruş (pennies). The Associated subunit was the Para, which formed the fortieth part of a Kuruş. The Imperial Ottoman Bank issued money in units between five and 5,000 Kuruş.
In the mid-1870s, the Lira was introduced as a new upper unit, which corresponded to 100 Kuruş. At the end of the First world war the gold standard was abolished – until then, the Lira was pegged to Gold (Goldlira) and the Kuruş in silver (Silberkuruş). The post-war paper lira corresponded in value to about a ninth of the gold lira.
Banknotes are in denominations of 5, 10, 20, 50, 100 and 200 lira, coins in denominations of 5, 10, 25 and 50 Kuruş and 1 lira. Just as before the currency reform 100 Kuruş correspond to a new Lira.
On the front of the banknotes and on the back of the coins are portraits of the Turkish founder Mustafa Kemal Ataturk. These images are not all the same, but come from different stages of his life. Cultural and natural monuments are depicted on the back of the banknotes.
The new Turkish 1-Lira coin, introduced in 2005, is similar to the European 2-Euro coin, with its golden core and silver edge, but the value of the 1-Lira coin is only around a quarter of the value of the 2-Euro coin. The same applies to the new 50 Kuruş coin introduced in 2005, which can be confused with the 1 Euro coin. For the coins introduced in 2009 (the same values as before, i.e. 1, 5, 10, 25, 50 Kuruş and 1 Lira), the colours of the two largest values were exchanged. The 50-Kuruş coin is now inside the Gold – and silver exterior colors, the 1-Lira coin is now inside silver and the outside is Golden.
Currency exchange and money transfers
The most common credit cards are Eurocard, Diners Club, Visa and Master Card. Currency exchange can be done at the airport at the Bank, currency exchange offices or in Hotels.
In Turkey, you can use your foreign credit card at almost all ATMs and exchange money or withdraw money directly. In the case of all ATMs, you can find your language.