Wanderlust World Wanderlust World The official currency of Turkey is the Turkish lira (TRY), which is subdivided into 100 kuruş. First introduced in 1844 to replace the Ottoman kuruş, the lira was initially pegged to the French franc. That peg ended in 1914, and the currency has undergone several devaluations since, with the most recent significant drop occurring in 2018.
Today, the Turkish lira circulates in both coins and banknotes, and its value fluctuates against major global currencies. Understanding the lira's history helps contextualize Turkey's modern economic landscape.