Why is the new currency called New Turkish Lira?
While determining our new currency unit, the expression of Lira has been preserved, which is the unique currency unit traditionally used throughout the Republican period and identified in the international markets with Turkey. Besides, other countries that have dropped zeros from their currencies introduced the title new before the name of their national currencies in general. On the other hand, countries, which had to remove zeros many times due to hyperinflation, have preferred to introduce different names in order to avoid any confusion between old and new currency units. However; under the assumption that there will be no further need to drop zeros in the long run thanks to the sustained economic stability, the expression New has been deemed appropriate to precede the name of the national currency for a temporary period of time.
