Turkish lira against dollar and other currencies

Turkish lira is the official currency of Turkey since 1923. It is divided into one hundred kurushas. In the article you will find not only a description and a brief historical reference, but also the cost in the world market, in which the Turkish lira is evaluated against the dollar and other currencies at the rate for 2017.

Short story

The Turkish lira was put into circulation already in 1923, during the reign of the first Turkish president, Ataturk.

At the end of XX century. Turkey was experiencing a deep economic crisis, and therefore the national currency began to depreciate very quickly. The Turkish lira to the dollar had an incredibly low rate. The government of the country was forced to conduct various anti-inflationary measures, during which in 2005 the old currency was replaced by a new Turkish lira at the rate of one to one million.

For today in the country there are both paper banknotes, and metal coins. In the transition period from old currency to new currency was called "New Turkish Lira", and since January 2009 it was returned to its historical name, and now it is again called "Turkish Lira."

Coins and banknotes

To date, in Turkey in the course of coins with a face value of one, five, ten, twenty-five and fifty kurushas, there is also a coin worth one lira. On all coins there is a portrait image of the first head of the new republic Mustafa Kemal Ataturk.

Paper notes also show similar portraits of the first head of the Turkish Republic. In circulation there are paper denominations of between five and two hundred Turkish liras.

The rate of the Turkish lira against the dollar and other currencies

To date, the Turkish lira no longer depreciates as quickly as at the beginning of the twentieth century. Its rate is quite stable, but the cost is not too high. The approximate rate of the Turkish lira against the dollar today is about $ 0.28. In accordance with this exchange rate for one dollar is given approximately three and a half lira.

The ratio of the dollar to the Turkish lira is clear, but what about the other currencies? If you compare the Turkish monetary unit with the Russian ruble, then for one ruble you will receive about 0.06 ₺. For one lira give about sixteen rubles.

For one euro, you can get almost four Turkish lira or exchange lira for the euro at a rate of about 0.26 euros.

The rate of lira against the dollar is quite profitable and you can exchange money almost at any exchange office. Approximately the same situation is with the European currency, Russian rubles and British pounds. This is due to the fact that the largest flow of tourists to the country is sent precisely from these regions. The exchange fee is usually not too high. Outside Turkey, it is almost impossible to exchange the national currency for Turkish, because there are few companies working with this monetary unit.

The exchange rate is unstable, because the country uses a system of floating exchange rate, which is adjusted for fluctuations in prices in the world foreign exchange market. Therefore, the Turkish lira against the dollar and other currencies has a volatile course.

Conclusion

The Turkish economy, which experienced difficult times at the beginning of the zero, was able to cope with the crisis situation largely due to the fact that the denomination of the national currency was made. After that, the Turkish lira against the dollar began to cost much higher than during the protracted crisis.

To date, the Turkish government is doing everything to ensure that the situation with the devaluation of the state currency is no longer repeated. Partly due to this, the Turkish economy now demonstrates good indicators, while the welfare of the population is lower than in Europe, but the prosperity of people is quite high, especially in comparison with many other countries of the Near East, the Caucasus and other regions neighboring Turkey.