Currency - Turkish Lira (TRY)

Making International Money Transfers in Turkish Lira

FTT Global offers a competitive exchange rate that is better than your bank’s rate. Plus, we offer a simple, speedy online service and our expert, friendly support team is here for you 24/7 should you need any help. Register with FTT today and convert or transfer your money immediately.

Code TRY

Do you need to make or receive Turkish Lira payments or transfer Turkish Lira between accounts? We can help, and save you money.

About the Turkish Lira

The Turkish Lira was born in 1844 as a gold coin, which was them subdivided into 100 Kurus. It is the official currency of Turkey and the Turkish Republic of Northern Cyprus.

The Lira was introduced in 1844 and soon began issuing paper money by the Imperial Ottoman Bank with denominations ranging from 5 to 5000 Kurus. In the mid 1870’s the Lira took over the Kurus which had denominations ranging from 5 to 1000 Lira and later introduced a further 50,000 Lira banknote.

By the First World War, Turkey had abandoned the gold standard and by the early 1920’s the gold Lira was equal to about nine Lira’s in paper money. In the 1970’s, the Turkish currency experienced chronic inflation. This combined with recessions in 1994 and 1999 and a banking crisis in 2001, resulted in the old Turkish Lira depreciating heavily against other currencies. Inflation of the Lira was so devastating that new notes with bigger denominations were introduced almost every two years from 1981 to match prices.

The Turkish Government responded to the inflation problem by putting a plan in place a plan to tackle inflation by 2008. The plan involved putting more controls into the banking sector and a decision to reissue currency. In 2005 the new Turkish Lira was introduced.

  • Coins are issued in denominations of 1, 5, 10, 25, 50 and 1. The banknotes are issued in denominations of 5, 10, 20, 50, 100 and 200.
  • The most popular Turkish Lira exchange rate is the TRY to EUR rate.

Our most popular TRY Money Transfers

At FTT Global we accommodate international money transfers in over 30 different foreign currencies. The Turkish Lira is one of our most popular currency exchanges with the following transfers accounting for many of these trades.

Currency Markets