04/11/2021: Resignation of Central Bank Governor and Lira Volatility
Following the resignation of the Turkish Central Bank governor, the lira experiences significant volatility in the foreign exchange market.
31/12/2020: Digital Currency Pilot
Azerbaijan launched a pilot program to test the use of a digital currency, the digital manat, in an effort to modernize its financial system.
10/08/2018: Currency Crisis and Lira Depreciation
The Turkish lira suffers a severe depreciation due to escalating tensions with the United States and concerns over the Turkish economy.
20/12/2017: Second Devaluation
The manat faced another devaluation, this time by around 30%, due to economic challenges and a sharp drop in oil prices.
15/07/2016: Failed Coup Attempt and Lira Plunge
After a failed coup attempt, the value of the Turkish lira plunges as political instability increases.
20/12/2015: Devaluation
The manat was devalued by more than 30% against the US dollar in response to falling oil prices.
30/04/2008: Global Financial Crisis and Turkish Lira
The Turkish lira experiences a significant depreciation as a result of the global financial crisis.
20/02/2005: Pegged to US Dollar
The Azerbaijani manat was pegged to the US dollar at a rate of 1.6 manat per dollar.
01/01/2005: Introduction of New Turkish Lira (TRY)
Turkey introduces a new version of the Turkish lira, denoted as TRY, with a new currency symbol.
14/06/2001: Currency Reform
A currency reform was implemented, resulting in a new manat with a higher exchange rate.
31/12/1993: Hyperinflation
Azerbaijan experienced a period of hyperinflation, leading to the devaluation of the manat.
14/08/1992: Introduction of Manat
The Azerbaijani manat currency was introduced as the official currency of Azerbaijan, replacing the Soviet ruble.
29/10/1930: Adoption of the New Turkish Lira
The Turkish government introduces the New Turkish Lira (Yeni Türk Lirası) to replace the old currency.
29/10/1923: Founding of the Republic of Turkey
The Turkish lira is officially established as the currency of the newly founded Turkish Republic.