Turkish Lira is the currency of Turkey and one lira is equal to 100 kuruş. The
international code is TRY, and also abbreviated as TL. The Turkish Lira was issued in 1923 and was the successor of the
Ottoman Lira, the official currency of the Ottoman Empire.
Every currency has an exchange rate against another currency which specifies how many units of one is equivalent to the
other, in any given day and time. For example when I was writing this paragraph the exchange ratio between the American dollar
and the Turkish Lira was 1:3.85, which means that every 1 USD can be exchanged for 3.85 TL.
The Turkish currency has banknotes and coins. There are 1, 5, 10, 25, 50 and 100 kuruş coins, where the last effectively is 1 Lira coin.
Also, there are 5, 10, 20, 50, 100, and 200 TL banknotes. For more information visit the
Turkish Lira Wkipedia Page
When you say Turkish currency an important note is that any amount is used as "singular", for example:
1 TL - Bir lira - One Lira, is like one dollar
2 TL - Iki lira - Two Lira, is like two dollars
1 krş - Bir kuruş - One Kuruş, is like one penny
10 krş - On kuruş - Ten Kuruş, is like ten pennies
8,12 TL (note the comma, not period) - Sekiz lira, on iki kuruş - Eight Lira, twelve kuruş, is like $8.12
Banking industry is the largest sector in the financial industry in Turkey and covers
almost 90% of it. Some of the top banks are Ziraat Bankası, Türkiye İş Bankası, and Garanti Bank. Banks have similar to ours financial
instruments such as checking accounts, savings accounts, CD's etc. The Borsa İstanbul (abbreviated as BIST) is the sole exchange entity of Turkey.
It consolidated several other exchange institutions and is owned 49% by the Turkish government.