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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.
Successive currency reforms by debasing the Ottoman currency had reduced the value of the Ottoman piastre by the late 19th century so as to be worth about two pence (2d) sterling. Hence the name piastre referred to two distinct kinds of coins in two distinct parts of the world, both of which had descended from the Spanish pieces of eight.
The Ottoman kuruş was introduced in 1688. It was initially a large silver piece (similar to the European thalers issued by the Ottomans), approximately equal to the French écu, or, from other sources, to the Spanish dollar. It was worth 40 para. In 1844, following sustained debasement, the gold lira was introduced, worth 100 kuruş.
The best way to find currency exchange shops nearby is by using Google Maps to search for “currency exchange near me.” You can click and drag the map to move it around, zoom in on a specific ...
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 ...
The economic history of the Ottoman Empire covers the period 1299–1923. Trade, agriculture, transportation, and religion make up the Ottoman Empire 's economy. The Ottomans saw military expansion of currency, more emphasis on manufacturing and industry in the wealth-power-wealth equation, and moving towards capitalist economics comprising ...
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In the late Ottoman Empire (Ottoman Turkish: درهم), the standard dirham was 3.207 g; [1] 400 dirhem equal one oka. The Ottoman dirham was based on the Sasanian drachm (in Middle Persian: 𐭦𐭥𐭦𐭭 drahm), which was itself based on the Greek dram/drachma. [2] In Egypt in 1895, it was equivalent to 47.661 troy grains (3.088 g). [3]