The Turkish Lira has a rich history, dating back to the Ottoman Empire when it was first introduced in 1844. However, one of the most noteworthy moments in its history was the extreme revaluation that occurred in 2005. Prior to that, hyperinflation had led to astronomical figures, with a single banknote worth one million lira at the peak of this period. In a bold move, the Turkish government removed six zeros from the currency, creating the New Turkish Lira (TRY), which radically altered the nation’s economic landscape.

Fascinatingly, Turkey is a country straddling two continents: Europe and Asia. This unique geographical position is mirrored in its currency, where symbols of both Western and Eastern cultures can be found. The lira also displays significant milestones from Turkish history, such as the portraits of Mustafa Kemal Atatürk, the founder of the Republic of Turkey, serving not only as a medium of exchange but also as a tribute to the nation’s rich heritage.