Ottoman lira issued in the form of 5 and 10 para stamps affixed to card. Ottoman lira The Ottoman lira was the currency of Ottoman Empire between 1844 and 29 October 1923 . It replaced the kuruş as the principal unit of currency, with the kuruş continuing to circulate as a subdivision of the lira, with 100 kuruş = 1 lira. The para also continued to be used, with 40 para = 1 kuruş. Until the 1930s, the Arabic script was used on Turkish coins and banknotes, with پاره for para, غروش for kuruş and ليرا for lira (تورك ليراسي for "Turkish
Central Bank of the Republic of Turkey prolonged indefinitely in 1994. In the Ottoman Empire, economic activities such as Treasury operations, money and credit transactions and trade in gold and foreign currencies were executed by various establishments such as the Treasury, the Mint, jewelers, moneylenders, foundations and guilds. In this organizational structure that prevailed until the second half of the 19th century, the Ottoman Empire minted gold coins on behalf of the Sultan. The Ottoman Empire put cash banknotes (Kaime-i nakdiye-i mutebere) into circulation in 1840. During the Crimean War, in 1854, the Ottoman Empire, which borrowed from other nations for the first time in history, needed