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The Ottoman lira replaced the piastre (Turkish: kuruş) as the principal unit of currency in the Ottoman Empire, with the piastre continuing to circulate as a subdivision of the lira, with 100 piastres = 1 lira. The para also continued to be used, with 40 para = 1 piastre.
kuruşlar) is a Turkish currency subunit, with one Turkish lira equal to 100 kuruş as of the 2005 revaluation of the lira. Until the 1844 subdivision of the former Ottoman gold lira, the kuruş was the standard unit of currency within the Ottoman Empire, and was subdivided into 40 para or 120 akçe.
The name akçe originally referred to a silver coin but later the meaning changed and it became a synonym for money. The mint in Novo Brdo , a fortified mining town in the Serbian Despotate rich with gold and silver mines, began to strike akçe in 1441 when it was captured by the Ottoman forces for the first time.
In a currency, there is usually a main unit (base) and a subunit that is a fraction of the main unit. In some countries, there are multiple levels of subunits. In the former Ottoman Empire, 1 lira = 100 [kuruş] = 4000 para = 12000 [akçe].
The para (Ottoman Turkish: پاره, romanized: pare, para, from Persian پاره, Sorani Kurdish: پارە pâre, 'piece'; [1] [2] Cyrillic: пара) was a former currency of the Ottoman Empire, Turkey, Egypt, Montenegro, Albania and Yugoslavia and is the current subunit, although rarely used, of the Serbian dinar.
The Venetian lira was one of the currencies in use in Italy and due to the economic power of the Venetian Republic a popular currency in the Eastern Mediterranean trade. During the 19th century, the Ottoman Empire and the Eyalet of Egypt adopted the lira as their national currency, equivalent to 100 piasters or kuruş. When the Ottoman Empire ...
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Historically English language sources used "£T" [65] [66] or "T£" [67] 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. [68]