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Topic: Turkish lira


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In the News (Mon 30 Nov 09)

  
 Lira
The Italian lira (plural lire) was the official unit of currency in Italy until January 1, 1999, when it was replaced by the euro (euro coins and notes were not introduced until 2002).
Before the lira, the monetary unit used by the Ottoman Empire was first the Akçe, later to be replaced by the Kurus (Piastre), with the Para as a subunit.
The Maltese Lira, known in the Maltese language as the Lira Malti, is the currency of Malta.
www.knowledgefun.com /book/l/li/lira.html   (940 words)

  
 New Turkish Lira law - All About Turkey
The Council of Ministers is empowered to remove the expression of "New" used in the "New Turkish Lira" and the "New Kurus" and to establish the principles on its application.
Provisional Article 1- The Turkish Lira banknotes and coins that are currently in circulation shall be circulated along with the New Turkish Lira banknotes as well as the new coins to be issued between 1 January 2005 and 31 December 2005.
The centesimal subdivision of the New Turkish Lira (NTL) is the New Kurus (NKr), and one New Turkish Lira corresponds to a hundred New Kurus.
www.allaboutturkey.com /ytllaw.htm   (1271 words)

  
 Investing: June interest rate rise bolsters Turkish lira - Marketplace by Bloomberg - International Herald Tribune
LONDON The Turkish lira, the world's best-performing currency in the past three months, is benefiting from the Central Bank of Turkey's drive to curb inflation.
Foreign investors owned 24.6 billion liras, or $16.1 billion, of local-currency government bonds, or 7.1 percent of the total, at the end of August, up from 19 billion liras in June, the bank regulator said this month.
Turkish domestic bonds returned 14 percent in dollar terms so far this quarter after a loss of 13 percent in the second quarter, according to J.P. Morgan Chase indexes.
www.iht.com /articles/2006/09/24/bloomberg/bxinvest.php   (772 words)

  
 Northern Cyprus Currency | Cash | Central Bank | Lira | Pound | Dollar
Today it is referred to as old Turkish Lira and it ceased its validity on 31st December 2005.
The New Turkish Lira (YTL - Yeni Türk Lirasi) that came out of old Turkish Lira with clearing away the zeros has been the current legal tender of the TRNC and Turkey since its issue on January 1st 2005.
Turkish Lira is not recommended to bring since the exchange rates are much better in Northern Cyprus.
www.unwinestates.com /currency.php   (422 words)

  
 CNN.com - Political fears rock Turkish lira - July 9, 2002
ISTANBUL, Turkey -- The Turkish lira has plunged to an all-time low against the dollar amid fears that a $16 billion IMF rescue may be sidelined by elections.
Battered by political turmoil, the lira, which halved in value amid last year's financial crisis, sunk to a low of 1,706,000 versus the dollar in early trading on Tuesday.
Turkish stocks dived at the start of trading, falling more than 4 percent after losing 4.7 percent on Monday on concerns the IMF's rescue plan could be derailed.
archives.cnn.com /2002/WORLD/europe/07/09/turkey.lira/index.html   (482 words)

  
 Turkey tries to protect its flagging currency through a 'use lira' campaign - Turkish Daily News Sep 02, 2001
It sounds somewhat naive to think that using Turkish lira in shopping, wage and rent contracts would restore our national pride, when businesses inevitably continue to price their goods on the basis of exchange rates, as the Turkish manufacturing industry imports half of its inputs.
The campaign was rolled out on slogans such as "national currency is the pride of a nation," and "happy is he who uses the Turkish lira," and got an immediate response from organizations representing wide masses.
Commenting on the lira spree, Sabah columnist Gulay Gokturk stated that the Turkish lira is trying to be saved through nationalistic aggression and Friday prayers, criticizing the authorities for being uninformed about the economic theory.
www.turkishdailynews.com.tr /archives.php?id=24843   (1040 words)

  
 New Turkish Lira - All About Turkey
While determining the name of the new currency unit, the expression of "Lira", which is the unique currency unit traditionally used throughout the Republican period after the War of Independence and identified with Turkey in international markets, has been preserved.
In sum, changeover to New Turkish Lira was necessary both for the prospective positive effects on the currency's reputation and for technical reasons.
The New Turkish Lira is also symbol and evidence of Turkey's determination to drive down inflation.
www.allaboutturkey.com /ytl.htm   (648 words)

  
 New Turkish Lira - Search Results - MSN Encarta   (Site not responding. Last check: 2007-10-18)
The New Turkish lira consists of 100 New kurus.
The monetary unit of the Greek sector of Cyprus is the Cyprus pound of 100 cents (0.48 pounds equalled US$1; early 2006).
The monetary unit of Turkey is the New Turkish lira of 100 kuruş (1.34 lire equalled US$1; early 2006), which replaced the Turkish lira from January...
uk.encarta.msn.com /New_Turkish_Lira.html   (108 words)

  
 Welcome to FreshPlaza
Playing down fears of a new slump in the Turkish Lira, the Governor blamed external factors in the loss of 20% of the value of the Lira in recent months.
He reminded bankers that there has been an increase in he credibility of the Turkish Lira in the past five years and that there were no signs of people rushing to buy hard currency.
Turkish Cypriot President Mehmet Ali Talat recently argued that a switch over to the Euro will bring greater price stability to Northern Cyprus but the issue has not moved forward due to fears of upsetting Ankara.
www.freshplaza.com /2006/29jun/ec_tr_cypruseuro.htm   (354 words)

  
 Turkish Lira, Turkey, TRY, Information on the Currency of Turkey   (Site not responding. Last check: 2007-10-18)
The new Turkish lira is the currency of Turkey and the Turkish Republic of Northern Cyprus.
The currency was introduced in January of 2005, and is equivalent to 100,000 of the old Turkish lira.
In the end of 2004, the Turkish government passed a law that removed the last six zeros from the currency, and in the process created the new Turkish lira.
www.gocurrency.com /countries/turkey.htm   (819 words)

  
 New Turkish Lira - NewLira.com
The symbol for New Turkish Lira is YTL and for New Kurus, YKr.
The new lira has notes of 100, 50, 20, 10, 5 and 1 lira and coins of 1 lira, 50, 20, 10, 5 and 1 kurus.
The new lira rate is simply 1/millionth or 6 zeros less than the old lira, whereas the Euro countries had complex exchange rate conversions.
newlira.com   (673 words)

  
 Cyprus :: Turkish lira retreats after EU comments on Cyprus
ISTANBUL, June 29 (Reuters) - The Turkish lira inched lower on Thursday, slipping to 1.6185 against the dollar after the European Union's enlargement chief said the EU may suspend membership negotiations with Turkey.
The current Turkish policies serve nobody apart from the Turkish army, and the Turkish Islamist fundamentalists.
I hope the Turkish politicians can understand the consequences on their economy and the chain reaction that would have on their whole country if they insist on choosing illegality and crimes in Cyprus over adjusting themselves to the EU principles and start respecting all 25 EU countries.
www.cyprus-forum.com /cyprus6489.html   (1003 words)

  
 New Turkish Lira - NewLira.com: The New Turkish Lira Note and Coin Designs
For their equivalent values, the new Turkish lira note and coin designs are very similar to the old lira designs.
Ataturk, the founder of the Turkish Republic, is still featured on the front of all the coins and notes and the pictures on the back remain the same.
The picture on the 50 New Turkish Lira is from Cappadocia, central Turkey.
newlira.com /2004/11/new-turkish-lira-note-and-coin-designs.html   (399 words)

  
 Redenomination of Turkish Lira
The redenomination of the Turkish Lira will be effective as of January 1st 2005, beginning of the new fiscal year, in order to avoid a dual-record system, and also not to cause an extra burden of preparing interim financial statements for those real persons and legal entities that are obliged to keep books.
At the second stage, similar to many country practices, after a few years, the expression of "Yeni" (New) before the "Turkish Lira" will be removed, and the use of of the expression of "TL" will be resumed.
To facilitate the recognition of banknotes and to prevent confusion in the transition to YTL, denominations with the same purchasing power will be issued in similar colours and designs for both TL and YTL.
www.turkishbanknotes.info /8emis.htm   (256 words)

  
 Turkish lira steady after rate hike -DAWN - Business; June 27, 2006
ANKARA, June 26: The Turkish lira stemmed recent sharp losses on Monday after the central bank raised its key interest rate for the second time in a month and auctioned off dollars to shore up the currency, which has been hit by inflation worries.
As the lira weakened later in the day, the central bank first held an auction of dollars worth $500 million, then sold dollars on the foreign exchange market.
The volume of the transaction was not immediately known but market analysts estimated the central bank had sold between $500 to $800 million (400 to 640 million euros) from its reserves.
www.dawn.com /2006/06/27/ebr13.htm   (345 words)

  
 Turkish New Lira Exchange Rates - Affordable Reliable Hospitals in Turkey - Turkish Currency Exchange
As of January 2005, Turkey omitted six zeros from their currency and is now called Turkish New Lira.
There is no limit on the amount of foreign currency that may be brought into Turkey, but not more than $5,000 worth of Turkish currency may be brought into or taken out of the country.
The exchange slips for the conversion of foreign currency into Turkish lira should be kept, since you may be required to show these when reconverting your Turkish lira back into foreign currency, and when taking souvenirs out of the country, to prove that they have been purchased with legally exchanged foreign currency.
www.medsolution.com /travelguide_turkey-currency.asp   (223 words)

  
 New Turkish Lira
The old name of Turkish money was "Turkish Lira" (In turkish "turk lirasi" or TL) and now it was changed to "New Turkish Lira" YTL (In turkish "yeni turk lirasi" or YTL).
The new bills have the picture of Mustafa Kemal Ataturk (the founder of the Turkish republic) at one side and at its verse the pictures of : Ishak Pasa Palace near Dogubayazit, Cappadocia, Ephesus, Pire Reis Map, Ataturk mausoleum and Ataturk Dam at Sanliurfa.
There are plans that Turkish people will meet "plastic (polymer) bills" instead of paper bills or in some paper bills after the year 2006.
www.business-with-turkey.com /tourist-guide/new_turkish_lira.shtml   (601 words)

  
 Turkey launches new currency - International Business - MSNBC.com
Turkish Prime Minister Tayyip Erdogan displays a new 20 Turkish lira banknote outside an ATM in the Black Sea town of Safranbolu on Saturday.
Introducing a new currency has been a Turkish goal for years, but the government was only able to move forward now that inflation is projected to run about 8 percent this year.
Turkish governments must avoid the type of excessive spending that was partly responsible for the inflation.
www.msnbc.msn.com /id/6776071   (673 words)

  
 Turkish Property Help
The Turkish Lira has devalued by approximately 10% over the last 2 weeks so those with major currency investments in the lira, or anyone in the process of arranging a currency exchange to buy their Turkish property in Turkish lira, is well advised to think carefully before acting.
Most Turkish people will tell you from their experiences of quakes that they are terrifying, whereas most overseas buyers can't really comprehend how frightening it is. We would love to hear from people who can offer practical advice on being prepared - please e-mail us if you can help.
Remember that (officially, at least) all Turkish agents must have passed the government approved scheme for real estate brokers (more in a later article) so if your agent is, for example, a 'wholly British owned and run', you should check that somebody at the agency is qualified to work as an agent.
propertyinturkey.blogspot.com   (4843 words)

  
 GarantiBank >> Conversion to the New Turkish Lira   (Site not responding. Last check: 2007-10-18)
The re-denomination of Turkish Lira by dropping six digits, which will be effective as of 1st of January 2005, indicates the beginning of a new era for the financial markets just like for the rest of Turkish Economy.
The currency unit of the Republic of Turkey will be the New Turkish L ira (abbreviated as YTL in Turkish) as of January 1, 2005.
Denominations of the New Turkish Lira banknotes will be 10, 20, 50 and 100 YTL; and the coins will be 1, 5, 10, 25, 50 New Kurus and 1 New Turkish Lira.
www.garantibank.com /custody_clearing/ytl.html   (2062 words)

  
 EurasiaNet Business & Economics - Strong Turkish Currency Raises Fears of Economic Setbacks
The Turkish lira trades at high exchange rates to major world currencies, but Turkey’s economy has not grown appreciably, and its Finance Ministry is carrying out a major banking reform that may sap consumer confidence.
By the end of the summer, the same amount of lira was worth less than thirty cents.
In a late April speech at the World Turkish Businessmen’s Convention in Istanbul, Sabanci lambasted the government over the scope of its debts to the IMF and other international lenders.
www.eurasianet.org /departments/business/articles/eav050202.shtml   (1003 words)

  
 Yeni Turk Lirasi: the New Turkish Lira
The New Turkish Lira (Yeni Türk Lirasi, YTL or TRY), introduced on January 1, 2005, is how the bill for your Istanbul hotel, your rental car, a nargile (water pipe) or just a glass of Turkish tea will be denominated.
Old Turkish liras were withdrawn from circulation during 2005.
The New Turkish Lira (usually called yeh-teh-leh or yeni lira) is equivalent to one million (old) Turkish Liras (TL).
www.turkeytravelplanner.com /details/Money/yeni_lira.html   (325 words)

  
 CNN.com - Turkey encourages joy of lira - August 27, 2001
The Turkish lira has fallen so far it is now worth about 1.5 million to the U.S. dollar after a financial crisis sparked by a row between Ecevit and the country’s president, Ahmet Necdet Sezer.
The lira was traded at 70 to the dollar in 1980, and has fallen 50 percent against the U.S. unit since it was set free to float amid crisis in late February.
Research by Morgan Stanley Dean Witter says the share of foreign currency deposits rose to 48.2 percent of total deposits at the end of May from 39.2 percent at the end of last year.
edition.cnn.com /2001/WORLD/meast/08/27/turkey.lira/index.html   (434 words)

  
 Turkish culture shock
Turkish culture shock for foreigners that come to visit or to live in Turkey:
Money in Turkey is called "Turkish Lira" and it has a lot of zeros...
In some turkish religious neighborhoods you can see women all dressed in fl.
www.business-with-turkey.com /tourist-guide/turkish_culture_shock.shtml   (725 words)

  
 New Turkish Lira
The Turkish Lira (TL) banknotes and coins were in circulation between 1st January 2005 and 31st December 2005, along with the New Turkish Lira (YTL) banknotes as well as the new coins.
From 1 st January 2006 TL (old) banknotes can be converted into the New Turkish Lira for a period of 10 years by the Central Bank of the Republic of Turkey.
From 1 st January 2006 TL (old) coins can be converted into the New Turkish Lira coins for a period of 1 year by the Central Bank of the Republic of Turkey and Ziraat Bank (T.C. Ziraat Bankasi).
www.turkisheconomy.org.uk /ytl.html   (236 words)

  
 Politics fuel jitters as Turkish lira falls - Business - International Herald Tribune
ISTANBUL "The ghosts of 2001 are hovering over Turkey," Ergun Hicyilmaz said, referring to the economic meltdown that shook the country to the depths of the Bosphorus and marked its worst crisis since Mustafa Kemal Ataturk founded the republic out of the ashes of the Ottoman Empire in 1923.
It also is bringing back bad memories of the last financial shock when the lira plunged, interest rates shot up overnight to 4,000 percent, and store shelves across the country remained full as cash- strapped consumers kept away.
The sell-off helped wipe away a fifth of the value of the Turkish lira against the dollar from April to June and pushed inflation to 10 percent from 8 percent a year.
www.iht.com /articles/2006/07/02/news/turkecon.php   (1181 words)

  
 Turkey currency regulation new turkish lira | Marmaris land
Since the beginning of 2005 Turkey delete six zero from the old Turkish lira TL, that become the new Turkish Lira YTL.
Start of January 01, 2005 one million Turkish Lira (1.000.000 TRL) is equivalent to one New Turkish Lira (1 YTL).
One New Turkish Lira (YTL) is equivalent to 100 New Kuru‏; (100 YKR).
www.marmarisland.com /Formalities/Turkey-currency-regulation.htm   (215 words)

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