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Due to inflation experienced in Turkey from the 1970s through to the 1990s, the Turkish Lira experienced severe depreciation in value. From an average of 9 Lira per US Dollar in the late 1960s, the currency came to trade at approximately 1,650,000 per US Dollar in late 2001.
Although it has since recovered somewhat, the Turkish ParliamentAlternative meanings: Parliamentary system, Parliament (band), Parliament (cigarette). A parliament is a legislative body, especially in those countries whose system of government is based on the Westminster system derived from that of the United Kingdom. passed a law in late JanuaryJanuary is the first month of the year in the Gregorian Calendar, and has 31 days. It is named for Janus, the Roman god of doors and gateways. The original Roman calendar consisted of 10 months (304 days). The Romans originally considered winter a monthle 20042004 is a leap year starting on Thursday (the link is to a full 2004 calendar), and has also been designated the: International Year of Rice International Year to Commemorate the Struggle against Slavery and its Abolition Elections are to be held in 73 co which allows for the removal of six zeroes from the currency, and the creation of the New Turkish Lira.