The Turkish currency is the lira. The lira is equal to 100 kuru? and is used in both Turkey and Northern Cyprus. The international code for the currency is TRY.
Turkish banknotes come in the following denominations: 5, 10, 20, 50, 100 and 200 lira. There is also a one lira coin and coins to the value of 1, 5, 10, 25 and 50 kuru?. All Turkish coins and notes display a portrait of Mustafa Kemal Atatürk on the obverse side. The currency underwent a major re-evaluation in 2005, when it was devalued and new banknotes with smaller denominations were issued.
According to Lonely Planet, Turkey has historically had high inflation rates, reaching up to 77.5 percent during the 1990s. After 2008 the currency stabilized, with an inflation rate in 2014 of around 9 percent.