Kuruş

Overview

The kuruş (Turkish: Kuruş, Ottoman Turkish: Kurûş) is a subunit of currency in Turkey, equivalent to one-hundredth of the Turkish lira. It has a long history dating back to the Ottoman Empire, where it was used as a monetary unit from 1688 to 1843.

History

The kuruş originated as a silver coin in the 17th century, similar to European coins such as the groschen. Initially, it was divided into 40 para, but later reforms introduced new denominations and exchange rates. In 1688, during the reign of Sultan Suleiman II, the Ottoman piaster (kurûş) was introduced, containing silver equivalent to 6 French pounds or 120 akçe.

Subunits

The kuruş is still used as a subunit of the Turkish lira, with one lira divided into 100 kuruş. The name "kuruş" has been adopted in various forms across countries that were part of the Ottoman Empire, including:

* Qirsh (Arabic)
* Gersh (Ethiopia)
* Grosia (Greek area)

Evolution

Over time, the kuruş underwent changes in its value and exchange rates. In 1843, it was replaced by the Ottoman pound, but it continued to be used as a subunit of currency. With the introduction of the metric system in Turkey in 1955, the Cypriot pound was divided into 20 shillings, each containing 9 grosia (equivalent to kuruş).

Legacy

The name "kuruş" remains a testament to the Ottoman Empire's influence on monetary systems across its territories. Today, it continues to be used as a subunit of currency in Turkey, with its value tied to the Turkish lira.

See Also

* Economy of Turkey
* European currencies