TRY (₺)
Turkish lira
Current regime
Trading the TRY between market participants and across borders is unrestricted and the market price is primarily determined without central bank intervention.
The payment processing of this currency is considered to be highly standardised.
History
The Turkish lira has its roots in the ancient Roman unit of weight known as the libra which referred to the Troy pound of silver.
The TRY was introduced on 1 January 2005 to replace the old lira at the rate of one new lira for one million old lira.
The TRY has floated with occasional heavy intervention since it was introduced.
The TRY accounted for 1.1% of global FX turnover in April 2019.
