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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.
It was introduced on 1 January 2005, replacing the previous lira (which remained valid in circulation until the end of 2005) at a rate of 1 new lira = 1,000,000 old lira. Following its introduction, the official name of the currency was the "New Turkish Lira", but according to the Central Bank, the word "new" (yeni) was only a "temporary ...
Printable version; In other projects ... Turkish lira – Turkey, ... This page was last edited on 28 December 2024, ...
From 1 January 2009, the "new" was removed from the second Turkish lira, its official name in Turkey becoming just "Turkish lira" again; new coins without the word "yeni" were introduced in denominations of 1kr., 5kr., 10kr., 25kr., 50kr. and TL 1. Also, the inner and outer alloys of the 50kr. and TL 1 coins were reversed.
The lira - by far the worst performer in emerging markets in 2021, as well as in the last few years - shed 44% of its value against the dollar over the year and 19% in the last week alone.
The Turkish currency was characterized by a plunging value of the Turkish lira, high inflation, rising borrowing costs and corresponding loan defaults. In 2018, the lira's exchange rate accelerated deterioration, reaching a level of US$4.5/TRY by mid-May.
Printable version; In other projects ... Turkish lira euro (unofficial) ... This page was last edited on 26 December 2024, ...
Charli XCX and 'Brat' as word of the year Collins Dictionary also chose a 2024 word of the year based on Charli XCX's album and the use of the word in association with Vice President Kamala Harris.