The Central Bank of the Republic of Turkey (CBRT) organized a Competition for the Turkish Lira Sign to further enhance the prestige and to raise worldwide recognition of the Turkish lira. Following some revisions made to the winning design, which was selected from applications received by the CBRT within a stipulated timeframe, a unique symbol (₺) has been determined to represent the Turkish currency. The symbol, which is both easily recognizable and aesthetically pleasing, is at the same time eye-catching and can easily be reproduced by hand.
While selecting the Turkish lira currency sign, two marked features of the Turkish lira and the Turkish economy were highlighted in accordance with the principles set forth by the Board. These are; "confidence" and "steadily rising value". The anchor-like sign emphasizes that the Turkish lira has become a "safe haven". The upward pointing parallel lines symbolize the "steadily rising value" of the Turkish lira and the Turkish economy.