Currency profile
Turkish Lira (TRY)
The Turkish lira (TRY) is the official currency of Türkiye, divided into 100 kuruş. It floats freely and has depreciated sharply over recent years; a 2005 redenomination removed six zeros from the old lira.
The Turkish Lira today
Mid-market · as of 6:11 PM GST
The lira floats freely, so its rate against the dollar and the dirham is set by the market and by Central Bank policy; it has depreciated heavily in recent years.
Exchange-rate regime
Free-floating. The lira has floated freely since February 2001, with its value set by the market. On 1 January 2005 a redenomination replaced the old lira at one new lira per one million old lira, removing six zeros.
The issuing central bank
The Central Bank of the Republic of Türkiye, established in 1930, issues the lira and sets monetary policy.
History
- 1930The Central Bank of the Republic of Türkiye was established as the issuing authority.
- 2001Türkiye moved to a free-floating lira in February 2001.
- 2005On 1 January 2005 a redenomination removed six zeros, replacing one million old lira with one new lira.
Coins and banknotes
One lira is divided into 100 kuruş. Coins: 1, 5, 10, 25 and 50 kuruş and 1 lira. Banknotes: 5, 10, 20, 50, 100 and 200 lira, issued by the Central Bank of the Republic of Türkiye.
Popular Turkish Lira pairs
What moves it
- The lira floats freely; Central Bank policy, inflation and market confidence set its rate.
- High inflation has driven heavy depreciation against the dollar and euro in recent years.
- Türkiye is a major trade and tourism partner for the Gulf, adding to currency demand.
Structural facts reviewed 8 August 2026 · reviewed quarterly. Sources: Central Bank of the Republic of Türkiye. Live rates are mid-market — see our Methodology and Editorial Policy.