Lira


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Lira

A term for a currency. It derives its name from "libra," which is the Latin word for a Troy pound of refined silver. It formerly was the name of the currencies in a number of states on the Italian peninsula, including Italy, San Marino and the Vatican. It continues to be the name for currencies in Jordan, Lebanon, Syria and Turkey.
References in periodicals archive ?
This has steadied the lira on occasions but the respite has been short-lived each time and the currency has lurched down further.
Economy Minister Zafer Caglayan, a vocal supporter of low interest rates and champion of Turkish exporters, who benefit from a weak lira, said the central bank did not need to intervene to support the currency, saying the 2 to the dollar level it breached on Tuesday was only a psychological barrier.
I am excited to be a part of their expansion and this is directly in line with my passion and desire to see Africa rise and shine on the global stage," said Lira.
The transition to the New Turkish Lira is a historic turning point in restoring the prestige of our currency and our country in the international arena,' central bank chief Sureyya Serdengecti told reporters earlier this year.
The lira is now floating, and Turkey should be encouraged to accept the market-determined rate or adopt another economically stable currency, such as the euro.
True, sources like Marin Mersenne's Harmonie universelle (1636) continued to include the lira well into the seventeenth-century, but in reality the instrument was falling out of favor well before the end of the previous-century, and the great majority of depictions, in fact, date from the first half of the sixteenth-century.
The lira has plunged to record lows on multiple occasions this year.
Already hammered this year by expectations that the Fed would begin to stem a flood of dollars that has boosted global emerging markets, the bank has sold dollars regularly to prop up the lira and stop domestic inflation from getting out of hand.
The lira weakness has triggered forex losses for firms including Turkish Airlines and Turk Telekom.
We will strongly defend the value of the Turkish lira.
The Turkish Lira has dropped close to record lows, hovering at TRY2 to a dollar, despite the best efforts of the country's central bank to stem the fall.
Turkey's central bank moved on Friday to cool down red-hot loan growth by raising banks' lira reserve requirements, a day after it slashed overnight borrowing rates to deter speculators betting on currency appreciation.