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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 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.
Gross (USD) Net (USD) Gross USD/TRY Net USD/TRY Gross/Net Ratio Gross (PPP, 2020 USD) Note 2025 26,005.50 22,104.67 738.82 628.00 35.19 35.19 0% Due to inflation, the conversion rate changes greatly. The current conversion rate, indicated in the table, is based on figures when the minimum wage was announced. 2024 20,002.50 17,002.12 678.68 576.88
For the Turkish lira, the Turkish lira sign (U+20BA ₺ TURKISH LIRA SIGN) is used. The Lebanese lira uses £L (before numerals) or L.L. (after numerals) in Latin and ل.ل. in Arabic. The Syrian lira uses £S (before numerals) or L.S. (after numerals) in Latin and ل.س in Arabic.
In the transitional period between 1 January 2005 and 31 December 2008, the second Turkish lira was officially called "new Turkish lira" (abbr: YTL) in Turkey. Banknotes, referred to by the Central Bank as the "E-8 Emission Group", were introduced in 2005 in denominations of YTL 1, YTL 5, YTL 10, YTL 20, YTL 50, and YTL 100.
On 15 August 2018, Qatar pledged to invest $15 billion in the Turkish economy making the lira rally by 6%. [122] [121] On 29 November 2018, the Turkish lira hit a 4-month high in value against the US Dollar. It recovered from 7.0738 against the dollar to 5.17 on 29 November, an increase of 36.8%.
Trump's sweeping U.S. presidential victory on Wednesday helped spark a rally of as much as 0.4% in Turkey's lira, to 34.2 to the dollar, its strongest level since mid-October.
The Central Bank of the Republic of Turkiye says on its website that counterfeiting methods used for Turkish lira banknotes are also used for foreign banknotes. The US dollar and the Euro are the ...
Turkey's Deputy Prime Minister Mehmet Simsek stated that the national currency's "depreciation has made the economy [more] competitive, and that "the worst for the Turkish Lira is now over." [ 5 ] Analysts warned of a "systemic risk" on account of the weakening of the Lira against the U.S. Dollar and the Euro , and the growing amount of ...