Last Updated: Fri Mar 02, 2012 08:23 am (KSA) 05:23 am (GMT)

From Today's Zaman: Turkey unveils symbol for national currency

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.

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