Kurus
Encyclopedia
Kuruş is a Turkish
currency subunit. Since 2005, one new Turkish lira
is equal to 100 kuruş. The kuruş was also the standard unit of currency in the Ottoman Empire
until 1844, and from that date until the late 1970s was a subdivision of the former lira. It was subdivided into 40 para
(پاره), each of 3 akçe. In European languages, the kuruş was often referred to as the piastre
, derived from the Italian word piastra.
. However, during the 18th and early 19th centuries, debasement
reduced the kuruş to a billon
coin weighing less than 3 grams.
At the beginning of the 19th century, silver coins were in circulation for 1 akçe, 1, 5, 10 and 20 para, 1, 2 and 2½ kuruş, together with gold coins denominated in zeri mahbub and altin. As the silver coins were debased, other denominations appeared: 30 para, 1½, 3, 5 and 6 kuruş. The final coinage issued before the currency reform consisted of billon 1, 10 and 20 para, and silver 1½, 3 and 6 kuruş.
In 1844, the Turkish gold lira was introduced as the new standard denomination. It was divided into 100 kuruş and the kuruş continued to circulate until the 1970s.
Kuruş eventually became obsolete due to the chronic inflation in Turkey in the late 1970s. A currency reform on 1 January 2005, provided its return as the 1/100th of the new lira.
. It was called grosi (γρόσι, plural γρόσια, grosia) by the Greeks. When Cyprus passed to British
control, the Cyprus Pound (now replaced by the euro
) became the currency of the island divided into 20 shillings and each shilling into 9 kuruş / γρόσια / piastres. When later the pound was decimalized into 1000 mils
, the people of Cyprus continued calling the 5 mils coin γρόσι / kuruş.
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
currency subunit. Since 2005, one new Turkish lira
Turkish lira
The Turkish lira is the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus. The lira is subdivided into 100 kuruş...
is equal to 100 kuruş. The kuruş was also the standard unit of currency in the Ottoman Empire
Ottoman Empire
The Ottoman EmpireIt was usually referred to as the "Ottoman Empire", the "Turkish Empire", the "Ottoman Caliphate" or more commonly "Turkey" by its contemporaries...
until 1844, and from that date until the late 1970s was a subdivision of the former lira. It was subdivided into 40 para
Para (currency)
The para was a former currency of the Ottoman Empire, Turkey, Montenegro and Albania, and is the current subunit, although rarely used, of the Serbian dinar....
(پاره), each of 3 akçe. In European languages, the kuruş was often referred to as the piastre
Piastre
The piastre or piaster refers to a number of units of currency. The term originates from the Italian for 'thin metal plate'. The name was applied to Spanish and Latin American pieces of eight, or pesos, by Venetian traders in the Levant in the 16th century.These pesos, minted continually for...
, derived from the Italian word piastra.
Coinage
The kuruş was introduced in 1688. It was initially a large, silver coin, approximately equal to the French écu, or, from other sources, to the Spanish dollarSpanish dollar
The Spanish dollar is a silver coin, of approximately 38 mm diameter, worth eight reales, that was minted in the Spanish Empire after a Spanish currency reform in 1497. Its purpose was to correspond to the German thaler...
. However, during the 18th and early 19th centuries, debasement
Debasement
Debasement is the practice of lowering the value of currency. It is particularly used in connection with commodity money such as gold or silver coins...
reduced the kuruş to a billon
Billon (alloy)
Billon is an alloy of a precious metal with a majority base metal content . It is used chiefly for making coins, medals, and token coins.The word comes from the French bille....
coin weighing less than 3 grams.
At the beginning of the 19th century, silver coins were in circulation for 1 akçe, 1, 5, 10 and 20 para, 1, 2 and 2½ kuruş, together with gold coins denominated in zeri mahbub and altin. As the silver coins were debased, other denominations appeared: 30 para, 1½, 3, 5 and 6 kuruş. The final coinage issued before the currency reform consisted of billon 1, 10 and 20 para, and silver 1½, 3 and 6 kuruş.
In 1844, the Turkish gold lira was introduced as the new standard denomination. It was divided into 100 kuruş and the kuruş continued to circulate until the 1970s.
Kuruş eventually became obsolete due to the chronic inflation in Turkey in the late 1970s. A currency reform on 1 January 2005, provided its return as the 1/100th of the new lira.
Cyprus
The kuruş was also used in Cyprus when the latter was ruled by the Ottoman EmpireOttoman Empire
The Ottoman EmpireIt was usually referred to as the "Ottoman Empire", the "Turkish Empire", the "Ottoman Caliphate" or more commonly "Turkey" by its contemporaries...
. It was called grosi (γρόσι, plural γρόσια, grosia) by the Greeks. When Cyprus passed to British
British Empire
The British Empire comprised the dominions, colonies, protectorates, mandates and other territories ruled or administered by the United Kingdom. It originated with the overseas colonies and trading posts established by England in the late 16th and early 17th centuries. At its height, it was the...
control, the Cyprus Pound (now replaced by the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
) became the currency of the island divided into 20 shillings and each shilling into 9 kuruş / γρόσια / piastres. When later the pound was decimalized into 1000 mils
Mill (currency)
The mill or mille is a now-abstract unit of currency used sometimes in accounting. In the United States, it is a notional unit equivalent to of a United States dollar...
, the people of Cyprus continued calling the 5 mils coin γρόσι / kuruş.
External links
- http://www.osmanlimedeniyeti.com Articles about Ottoman coins
- http://www.osmanliparalari.com Everything about Ottoman coins /