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18 April 2014, Friday
 
 
Today's Zaman
 
 
 
 

Turkey unveils symbol for national currency

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THE NEW SYMBOL OF THE TURKISH LIRA IS REFLECTED ON A SCREEN DURING A MEETING AT TURKEY'S CENTRAL BANK IN ANKARA ON MARCH 1, 2012. (PHOTO: AA)
1 March 2012, Thursday /TODAYSZAMAN.COM
The Central Bank of Turkey unveiled a currency sign for Turkish lira, reflecting the government's ambitions to further strengthen the lira as a global currency and to boost the country's standing as a major international actor.

The symbol is a double-crossed "L," shaped like an anchor. The anchor shape hopes to convey that the currency is a "safe harbor" while the upward facing lines represent its rising prestige, Prime Minister Recep Tayyip Erdoğan said at a ceremony at the Central Bank unveiling the symbol.

“The Turkish lira has a symbol now, just like the US dollar, the euro and the yen,” Erdoğan said, noting that the introduction of a symbol for the lira is not just a technical operation. “It signifies a renewed value and prestige for our national currency, the reawakening of a nation and its re-emergence as a global actor,” he said at the ceremony.

The symbol was endorsed after a contest, which Erdoğan said elicited about 8,000 submissions. The prime minister also said the introduction of the new sign was a new phase in a process of strengthening the lira. In 2005, Turkey created a new currency after removing six zeroes from the lira.

The redenominated lira, called the New Turkish Lira (YTL), was in circulation until Dec. 31, 2008. On Jan. 1, 2009, the word “new” was removed from the name of the second lira.

The lira, ranked by the Guinness Book of Records as the world's least valuable currency in 1995 and 1996 and again from 1999 to 2004, stabilized against the US dollar and the euro over the past several years.

“We did not pay attention to pessimistic and negative comments and completed the process of removing six zeros with almost no problem. Our people and institutions quickly adopted the new lira,” Erdoğan told the news conference.

 
 
COMMENTS
@DutchTurk - you sound a little fascist with your unquestioning devotion to the cult of Turkey. It really is troubling that you appear to have been brainwashed by the 'thought police' and had all reference to anything logical removed and replaced with Turkey is great at every second thought impulse...
Mark
I do admit (as a Turk) that it looks like the armenian currency's emblem turned upside down ... not cool guys
Murat
@Funny-Avery, Who cares about the Armenian Dram, who cares about Armenians either. Not everything in this world turns around the Armenian issues, get real!! Annoying people 24/7. This symbol represents the T of Turkish and the L of Lira combined into one symbol. The rising 2 lines represent the rise...
DutchTurk
The Lira symbol was copied from the symbol of the Armenian currency Dram: Armenian symbol predates this new Lira symbol by years. Lira symbol is upside down Dram symbol. Go figure.
Avery
Dave Rove, there's already a downloadable application which will configure the keyboard for the combination AltGr T to generate the symbol.
Baris
Me like it. T and L combined in one.
DutchTurk
This "symbol" represents nothing much at all. It is uninteresting and too much like the failing Euro symbol to be a powerful visual statement.
Expat
write it very quickly, is it a euro or Turkish Lira symbol. Also does this mean a new issue of currency is soon to be implemented carrying the new symbol.
stephen
The symbol hasn't been chosen with any thought given to how it would appear on computer screens on the World Wide Web. It's 2012 and they've failed to take account of the New Media! The two closely-spaced and tilted bars are just going to blur together when reduced to the standard web font-size bec...
Dave Rove
The more interesting thing is that it looks very much like the symbol for the Armenian Dram currency turned upside down.
gd
It could be confused with the symbol for Amnesty international, did AKP really think over the symbol or did they just take the first thing at hand.
Halis
It looks like the symbol of Armenian Dram upside down. Did turks run out of ideas?
Gary
Has Turkey adopted a communist version of its Byzantine heritage? What we have here is an Orthodox cross with the blade of the scyckle blade from the communist party symbol.
Karl Comenenius
lira as a global currency will never succeed, Turkey should unite it's currencey with other Muslim countries and establish the Islamic Dinar as a global currency
salah salah
Turkish trade is strong and deserves a new symbol. Even between Turkey and Israel trade rose by nearly 30 percent to $4.449 billion in 2011 from $3.440 billion in 2010. In the same period, Turkish imports from the Jewish state rose more than 50 percent. Trade and economy has its own rules... despite...
erol
Hmm looks vey familiar-the knights templars used a similiar emblem: lo and behold they also were the fist to establish banks in europe. The choice of using a similar symbol as the templars may be no accident; afterall the central banking systems, with a few exceptions, are essentially franchises of ...
suat
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