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The lira was the currency of Italy from its unification until it was merged into the euro in 1999. [2] A unit of currency lira had previously been used in some of the states and possessions that became Italy but their values were not necessarily equivalent. (See Luccan lira, Papal lira, Parman lira, Sardinian lira and Tuscan lira.)
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 lira was introduced as the main unit of account in ...
It was introduced on 1 January 2005, replacing the previous lira (which remained valid in circulation until the end of 2005) at a rate of 1 new lira = 1,000,000 old lira. Following its introduction, the official name of the currency was the "New Turkish Lira", but according to the Central Bank, the word "new" (yeni) was only a "temporary ...
The lira is no stranger to volatility, but this month's 5% dive against the dollar stands out when compared to a 1.3% gain for MSCI's Emerging Markets Currency Index.
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The lira was the official unit of currency in Italy until 1 January 1999, when it was replaced by the euro (the lira was officially a national subunit of the euro until the rollout of euro coins and notes in 2002). Old lira denominated currency ceased to be legal tender on 28 February 2002. The conversion rate was Lit 1,936.27 to the euro. [13]
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 Turkish lira sign (symbol: ₺; image: ₺) is the currency symbol used for the Turkish lira, the official currency of Turkey and Northern Cyprus. It serves as a visual identifier for the lira in written and printed documents, as well as in digital communications. The design was presented to the public on March 1, 2012.