The Turkish currency unit is known as the lira, which is a four-letter word. The lira has been the official currency of Turkey since 1923 and is divided into 100 kuruş. The lira is issued by the Central Bank of the Republic of Turkey and is available in both paper and coin form. The lira is also used in some other countries, such as Cyprus, Syria, and Lebanon. The current exchange rate for the lira is around 7.5 lira to 1 US dollar.