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Speaking of Turkey

6/2/2010

The Turkish Lira was once a difficult currency to deal with, as you needed millions of them to do simple things like have a cup of coffee. But in an attempt to stop the spiralling inflation, and to make everyday life easier, the Turks removed six zeroes from their notes, at the same time as reining in their financial policies. This took place on the 1st of January 2005.

Turkey has been fairly successful with their financial policies and inflation. On the 1st of January 2005 one Lira (TRY) cost SEK 5.28. It was once down to 4.80 but due to the well-known worries concerning the Euro it’s back to 5.27.

Notes can be found in denominations of 5, 10, 20, 50, 100 and the recently introduced 200 Lira. 1 Lira is a coin. The division of the Lira is called Kuru and can be found in 1, 5, 10, 25 and 50 coins. 


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