The Turkish lira became the official currency of the Republic of Turkey in 1927 after replacing the Ottoman lira.
The Turkish Republic was founded in 1923, but the new national currency was issued several years later. The first Turkish lira banknotes appeared in 1927, replacing Ottoman notes and marking a monetary break with the former empire. The lira was subdivided into 100 kuruş.
Early Republican notes were printed in both Turkish and French because the Latin alphabet reform had not yet fully transformed official documents. Later issues reflected the language and symbols of the Republic under Mustafa Kemal Atatürk.
Turkey has redenominated the lira during periods of severe inflation. In 2005, six zeros were removed, creating the new Turkish lira. The word “new” was dropped from the currency’s official name in 2009, returning it to Turkish lira. Kuruş remains the subdivision, although inflation has reduced its practical use.