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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.
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.
Banknotes, referred to by the Central Bank as the "E-8 Emission Group", were introduced in 2005 in denominations of 1, 5, 10, 20, 50, and 100 new lira. Whilst the lower four denominations replaced older notes and used very similar designs, the 50 and 100 new lira notes did not have equivalents in the old currency.
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.
A big fall in Turkey's lira is hardly rare these days, but the currency's precipitous 20% plunge over the last week is ramping up risks of a balance of payments crisis unless authorities can ...
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.
The collapse of the Turkish lira spreads its toxic influence on the European and EM financial markets. The Turkish lira has lost 11% to 7.11 per dollar since the start of trading on Monday but ...
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