What is the currency of Turkey?

The currency of Turkey is the Turkish lira.

The Turkish lira uses the symbol ₺ and the international code TRY. It is issued by the Central Bank of the Republic of Turkey, and each lira is divided into 100 kuruş. Common banknote denominations include 5, 10, 20, 50, 100, and 200 lira.

The modern currency is the second Turkish lira. It replaced the first Turkish lira in 2005 after severe inflation made the earlier denominations unwieldy; six zeros were removed during the redenomination. The first Turkish lira had itself replaced the Ottoman lira after the establishment of the Republic of Turkey.

The lira is sometimes confused with the British pound because both names descend from the Latin libra, an ancient unit of weight. Turkey’s lira is a separate currency, however, and its symbol was introduced in 2012. The lira is also legal tender in Northern Cyprus, whose political status is disputed internationally.