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The Turkish lira, the French livre (until 1794), the Italian lira (until 2002), Lebanese pound and the pound unit of account in sterling (a translation of the Latin libra; the word "pound" as a unit of weight is still abbreviated as "lb.") are the modern descendants of the ancient currency.
The new Turkish lira (Turkish: Yeni Türk Lirası) was the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus between 1 January 2005 and 31 December 2008 which was a transition period for the removal of six zeroes from the currency. [1] The new lira was subdivided into 100 new kuruş (yeni kuruş).
In 1844, the Turkish gold lira was introduced as the new standard denomination. It was divided into 100 silver kuruş and the kuruş continued to circulate until the 1970s. Kuruş eventually became obsolete due to the chronic inflation in Turkey in the late 1970s. A currency reform on 1 January 2005 provided its return as 1 ⁄ 100 of the new lira.
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.
The lira pesante would have redenominated the currency at 1,000:1, removing 3 zeroes. However the project went dormant for several years before being revived in 1984. Ongoing heavy inflation saw the lira pesante pushed back until it was permanently abandoned in 1991 because of plans for a single European currency.
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.
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.
Carolingian pound (Latin: libra), a unit of weight and coinage, ancestor of German: Pfund, French: livre, Spanish: peso, Lira (Italian: lira, Turkish: lira) as well as the English word pound. Libra (weight), an ancient Roman unit of weight, basis for the Carolingian pound; Local exchange trading system: many British LETS use(d) the term "pound"