Turkish Lira

About The Turkish Lira: The Currency of Turkey

Quick Facts About the Turkish Lira Notes

Country of Origin	Turkey
Symbol	₺
Currency Code	TRY
Nick Names
Minor units	Kuruş
Denominations (Banknotes)	₺5, ₺10, ₺20, ₺50, ₺100 and ₺200
Motto
Identification Feature	The ₺200 notes feature the image of Yunus's mausoleum, rose, pigeon and the line "Sevelim, sevilelim".
Issuing Bank	Central Bank of the Republic of Turkey
In Circulation Since	January 1, 2005

In spite of the many times throughout history that it has been devalued, the Turkish lira continues to serve as the official currency of Turkey which is nestled on Anatolian Peninsula in Western Asia. The code of Turkish lira is TRY.

The rate of inflation in Turkey is relatively high when compared to that of its contemporaries. In order to combat the effects of inflation, multiple revaluations of the currency have been implemented. The Turkish lira symbol is ₺. Between the years 1861 and 2002, Italy's official currency was the Italian lira.

The current rate of lira is INR (0 🔄) . You can keep an eye on the live lira value.

Turkish Lira isn't readily available in the country. Due to this, exchanging INR for TRY can prove to be costly and an additional hassle. It is better to convert INR to USD and convert the US dollar to local currency during your travel. MakeMyTrip powered by Bookmyforex offers currency conversion at live rates along with other benefits. Click here to convert INR to USD.

History of the Turkish Lira

In 1844, Turkey became the first country in the world to use the lira as its official currency. Between the years 1844 and 1881, the value of one lira was determined by either pure gold or pure silver. However, beginning in 1881 and continuing until 1914, the value was determined only by gold. During the First World War, Turkey moved away from the gold standard, which led to a continued decline in the value of the lira until 1920.

In 1946, the lira was set to the US dollar at an exchange rate of TRL 2.80 = USD 1, a parity that was maintained until 1960, when the currency was depreciated to 9 liras to a dollar. This occurred after several periods of fixing the lira to the pound sterling and the French franc.

Because of Turkey's persistent inflation from the 1970s through the 1990s, the lira saw a significant devaluation during that time period. Although the ottoman nation's inflation rate was relatively high in comparison to those of other developing countries, it had not yet experienced hyperinflation. The Turkish lira has been able to maintain its stability and has even gained some value over the past several years when compared to the dollar or the euro.

After yet another depreciation of the Turkish lira in 2005, the New Turkish lira was introduced into circulation. This currency continued to be used until the first of January 2009, when it was once more dubbed the "Turkish lira." On January 1, 2009, a new series of banknotes known as the "E-9 Emission Group" went into circulation. In order to combat counterfeiting, the new banknotes come in a variety of sizes. This new series is distinguished from previous iterations primarily by the fact that each denomination portrays a well-known figure from Turkish history rather than geographic locations or architectural elements of Turkey.

Countries Accepting the Turkish Lira

Amount in the Turkish Lira You Should Carry for Your Trip

If you want an accurate estimate of how much money you will need to spend on your vacation in the bustling country of Turkey, you will need to have every detail of your itinerary planned out beforehand. The amount of money you have set aside for your vacation will be impacted by a variety of factors, including how you plan to get there, where you will stay, and what you will eat while you are there.

A visitor spending one day in Turkey should expect to spend close to TRY 300 if they are on a shoestring budget. It is not difficult to spend more than TRY 800 per day on a luxury vacation if you choose to opt for private transportation, dinners at five-star restaurants and stay at an opulent property. On the other hand, the cost of a weekend getaway for two people might range anywhere from TRY 800 to TRY 1,800.

The cost of a single night's stay in a Turkey hotel typically ranges anywhere from TRY 175 to TRY 350 per individual. Depending on whether you walk, use the bus, or hail a taxi, your daily transportation costs can range anywhere from TRY 65 to TRY 120 and even more.