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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.
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 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 ...
In the Ottoman Empire, the word piastre was a colloquial European name of Kuruş. 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.
The Kararname of 1296 [1] (Turkish: Meskûkât-ı Osmaniye Kararnamesi [2]), was a decree concerning monetary systems of the Ottoman Empire. This kararname established a bimetallic currency system based on gold and silver in the year 1296 AH (1880 AD). [3]
The akçe or akça (also spelled akche, akcheh; Ottoman Turkish: آقچه; Turkish pronunciation:, , in Europe known as asper or aspre) was a silver coin which was the chief monetary unit of the Ottoman Empire and was once used by Aq Qoyunlu in the early period. [1]
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 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.