What Is the Name for a Turkish Coin?


Quick Answer

A Turkish coin is called a lira. There have been two distinct versions of the lira. The first was introduced in 1824 and was the currency of Turkey until 2005. In 2005, the new lira was introduced.

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What Is the Name for a Turkish Coin?
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Full Answer

Chronic and massive inflation starting in the 1970s was the stimulus for the change. Six zeros were dropped from the old currency to the new currency effective Jan. 1, 2005. The exchange rate between the two was that of one new lira equalled one million old lira. In 1999, the Guinness Book of World Records gave the lira the title of the world's least valuable currency.

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