Turkish lira is the official currency of Turkey. It is also known as TL in the financial world and has been in circulation since 1923. There are a few synonyms for the Turkish lira that are used in different contexts. Some refer to it as the Turkish pound, while others refer to it as the Turkish currency. In some cases, it may also be referred to as the Ottoman lira or the Ottoman pound, harking back to the times when Turkey was known as the Ottoman Empire. Regardless of the synonym, the Turkish lira remains a vital aspect of Turkey's economy and is closely monitored and regulated by the country's monetary authorities.