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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.
Turkish lira euro (unofficial) sterling (unofficial) ₺ € £ TRY. EUR GBP kuruş. cent penny. Cypriot pound South Ossetia Georgia: Russian ruble ₽ RUB kopeck: Soviet ruble Transnistria Moldova: Transnistrian ruble: руб PRB (unofficial) kopeck Soviet ruble
Cypriot lira/pound 1879–2007; merged into the euro, 2008; French livre 781–1794; became the French franc; Israeli lira/pound 1948–1980; replaced by the old shekel in 1980. Italian lira 1861–2002; merged into the euro, 1999 (notes and coins from 2002) Italian East African lira 1938–1941; supplanted by the East African shilling
Until the 1930s and the Turkish alphabet reform, the Arabic script was used on Turkish coins and banknotes, with پاره for para, قروش for kuruş and ليرا for lira (تورك ليراسي for 'Turkish lira'). In European languages, the kuruş was known as the piastre, whilst the lira was known as the livre in French and the pound in ...
At the time of the occupation in 1878, for the purpose of paying the troops the British government instructed that a Turkish lira was to be rated at 9 ⁄ 10 of a pound sterling. [5] There was a complication, however, in that although one lira was equal to 100 Turkish piastres , this rate differed in practice between different locations.
The pound, or lira (Greek: λίρα, plural λίρες, and Turkish: lira, Ottoman Turkish: لیره, from the Latin libra via the Italian lira; sign: £, sometimes £C [1] for distinction), was the currency of Cyprus, including the Sovereign Base Areas in Akrotiri and Dhekelia, [2] [3] from 1879 to 2007, when the Republic of Cyprus adopted the euro.
Because of the debased values of the piastres in the Middle East, these piastres became subsidiary units for the Turkish, Lebanese, Cypriot, and Egyptian pounds. [1] Meanwhile, in Indochina, the piastre continued into the 1950s and was subsequently renamed the riel, the kip, and the dong in Cambodia, Laos and Vietnam respectively.
Presently, the TRNC government has declared the Turkish lira to be its legal tender. The euro (along with other major currencies, such as the U.S. dollar and British pound) can be used to pay for goods and services in many shops associated with or situated near tourist hotspots, as well as some major supermarkets.