Turkey's currency is the Turkish lira. Sub-unit of currency used in Turkey and North Cyprus is a penny. The Central Bank of Turkey organized the TL Symbol Contest on 8 September 2011 in order to increase the reputation of the Turkish lira and increase its awareness in the world. The new symbol was determined as the result of the competition and announced by Prime Minister Recep Tayyip Erdoğan on 1 March 2012. Symbol of Turkish Lira: ₺ and code: TRY.
In order to reduce the number of zeros, on January 31, 2005, it was temporarily abolished and replaced with New Turkish Lira (YTL). Due to the completion of the transition from YTL to TL, it was re-introduced on 1 January 2009. There are no 6 zeros in the currency that entered into force in 2009.
Coins and Banknotes
Coins: 1 kuruş, 10 kuruş, 25 kuruş, 50 kuruş, 1₺
Banknotes: 5₺, 10₺, 20₺, 50₺, 100₺, 200₺
On the front of the Turkish lira so far, only Mustafa Kemal Ataturk (the founder of the Republic of Turkey) and Ismet Inonu (Turkey's first prime minister) images were found. İsmet İnönü's picture was only on the front of the Turkish lira during the period when he was the presidency (1938-1950). The reason for this is that it has been a tradition since the Ottoman period and is a method used by many non-Ottoman states to put the picture of the head of state at that time on the front of the money.
But this law was changed by the government headed by Adnan Menderes in 1952 and it was decided that above the Turkish lira, only Mustafa Kemal Ataturk's picture should be found, not the head of state at that time.