Republic of Turkey is a country located in Southwest Asia and Southeastern Europe. For political and historical reasons the country is often counted to Europe and for cultural and religious reasons to Asia. Republic of Turkey arose after the defeat of the central powers and the ensuing treaty of Sèvres. With this treaty, the remaining Ottoman territory would be divided among the Allies, while Greece and even Armenia demanded. Due to the war of independence, the sultanate was abolished and replaced by a parliamentary republic. Turkey has been a presidential republic since 2018. In 1939, the Republic of Hatay was added to the national borders.
The lira is the currency of Turkey. The Turkish Republic replaced the old Ottoman lira with the Turkish lira, a medium-sized silver coin. Banknotes were also added later. In contrast to the old Ottoman lira, the Turkish lira was less strong. The value of the currency also decreased compared to 1 dollar from 2 Turkish lira in 1933 to 1 410 000 Turkish lira in 2007. On 1 January 2005 the New Turkish lira was introduced. A new lira was worth as much as one million old lira. Since 1 January 2009 the prefix “new” has been omitted.