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5 Turkey Lira
The Turkish Lira (Turkish: Türk lirası; sign: ₺; code: TRY; numeric code: 949; usually abbreviated as TL) is the official currency of Turkey and Northern Cyprus. One Turkish lira is subdivided into one hundred kuruş. The lira, along with the related currencies of Europe and the Middle East, has its roots in the ancient Roman unit of weight known as the libra which referred to the Troy pound of silver. The Roman libra adoption of the currency spread it throughout Europe and the Near East, where it continued to be used into medieval times. The Turkish lira, the French livre (until 1794), the Italian lira (until 2002), Syrian Pound, Lebanese Pound and the British pound are the modern descendants of the ancient currency.
First Turkish lira (1923–2005) – Both Livre Turque (in French) and تورك لیراسی (in Ottoman Turkish) phrases used on first-issue banknotes. Historical banknotes from the second, third and fourth issues have portraits of İsmet İnönü on the obverse side. This change was done according to the 12 January 1926 issue of the official gazette and cancelled by the Democrat Party after World War II.
Second Turkish lira (2005–present) – In December 2003, the Grand National Assembly of Turkey passed a law that allowed for redenomination by the removal of six zeros from the Turkish lira, and the creation of a new currency. It was introduced on 1 January 2005, replacing the previous Turkish lira (which remained valid in circulation until the end of 2005) at a rate of ₺1 new lira (ISO 4217 code “TRY”) = T₤1,000,000 old lira (ISO 4217 code “TRL”). With the revaluation of the Turkish lira, the Romanian leu (also revalued in July 2005) briefly became the world’s least valued currency unit. At the same time, the Government introduced two new banknotes with the denominations of ₺50 and ₺100.
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