Turkish Lira
Türk Lirası
Currency Code
TRY
ISO 949
Symbol
TRY
Native: ₺
Decimal Digits
2
Rounding: 0
Countries
TR
Using this currency
Currency Units
Major Unit
Name: lira
Symbol: ₺
Minor Unit
Name: kuruş
Symbol: kr
Value: 0.01
Banknotes
Frequently Used
₺5₺10₺20₺50₺100₺200
Coins
Frequently Used
1 kr5 kr10 kr25 kr50 kr₺1
Plural Forms
English Plural
Turkish liras
Native Plural
Türk Lirası
Overview
The Turkish Lira is the currency of Turkey, managed by the Central Bank of the Republic of Turkey. It has experienced significant volatility in recent years due to economic and political challenges, making it one of the most watched emerging market currencies.
Economy
- Turkey is a member of NATO, G20, OECD, Council of Europe, OIC.
- Main industries include: Textiles, Food processing, Automobiles, Electronics, Mining, Steel, Petroleum, Construction, Lumber, Paper.
- Turkey is part of the World Trade Organization.
- Imports are machinery, chemicals, semi-finished goods, fuels, transport equipment.
- Major exports include apparel, foodstuffs, textiles, metal manufactures, transport equipment, machinery.
- GDP: $815.3 billion (2023 est.).
- GDP per capita: $9,539 (2023 est.).
- Unemployment rate: 10.4% (2023 est.).
- Inflation rate: 53.9% (2023 est.).
- Main trading partners: Germany, United Kingdom, Iraq, Italy, United States, Spain.
- Trade agreements: EU Customs Union, Various bilateral agreements.
History
- Previous currencies used: Ottoman Turkish lira, Old Turkish lira.
- The modern Turkish lira was introduced in 2005, replacing the old lira at 1,000,000:1. Turkey has had various currency reforms throughout its history, often related to inflation control.
- 1923: First Turkish lira introduced after Republic established
- 1946: Devaluation and IMF membership
- 1970s-1990s: High inflation periods
- 2005: New Turkish lira introduced (1,000,000:1)
- 2009: 'New' dropped from name
- 2018: Major currency crisis and depreciation
- 2021-2023: Unconventional monetary policy period
- Exchange rate peg: Free floating with heavy intervention.
General Information
- ISO 4217 Code: TRY
- Symbols: TRY/₺
- Currency Subunits: 100 kuruş
- Central Bank: Central Bank of the Republic of Turkey
- Monetary Policy: Unconventional monetary policy with low interest rates despite high inflation. Focus on supporting growth and employment over price stability.
- Bills: 5 TRY, 10 TRY, 20 TRY, 50 TRY, 100 TRY, 200 TRY
- Coins: 1 kuruş, 5 kuruş, 10 kuruş, 25 kuruş, 50 kuruş, 1 lira
- USD Exchange Rate: Variable (approximately 30-32 TRY per USD)
- Pegged To: None (Floating)
- Capital: Ankara
- Population: 85,372,377 (2023 est.)
- Area: 783,562 km²
- Languages: Turkish (official), Kurdish, Other minority languages
- Time Zones: UTC+3 (Turkey Time)
- Government Type: Presidential republic
- Head of Government: President (head of state and government)
- Independence: October 29, 1923 (Republic of Turkey established)
- Ethnic Groups: Turkish 70-75%, Kurdish 19%, Other minorities 7-12%
- Religions: Muslim 99.8% (mostly Sunni), Other 0.2%
- Literacy Rate: 96.7% (2019 est.)
- Transport: Istanbul Airport, extensive road network, high-speed rail, major ports (Istanbul, Izmir)
- Communications: Good telecommunications, 78% internet penetration, widespread mobile coverage
- Energy: Natural gas 37%, Coal 28%, Hydroelectric 26%, Wind 4%, Other renewables 5%
- Countries Using This Currency: Turkey
- Data Sources: Central Bank: Central Bank of the Republic of Turkey (tcmb.gov.tr), Economic Data: Turkish Statistical Institute, World Bank, IMF, Trade Data: Ministry of Trade Turkey, Demographic Data: Turkish Statistical Institute, Geographic Data: Turkish State Meteorological Service, Historical Data: Central Bank archives
- Last Updated: 2025