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Kuruş (/kəˈruːʃ/kə-ROOSH;[1]Turkish pronunciation:[kuˈɾuʃ]), alsogurush,ersh,gersh,grush,grosha, andgrosi,[2] are all names for currency denominations in and around the territories formerly part of theOttoman Empire. The variation in the name stems from the different languages it is used in (Arabic,Amharic,Turkish andGreek) and the different transcriptions into theLatin alphabet. In European languages, the kuruş was known as thepiastre.[2]
Today the kuruş (pl. kuruşlar) is a Turkish currency subunit, with oneTurkish lira equal to 100 kuruş as of the2005 revaluation of the lira. Until the 1844 subdivision of the formerOttoman gold lira, the kuruş was the standard unit of currency within theOttoman Empire, and was subdivided into 40para or 120akçe.
TheTurkish wordkuruş (Ottoman Turkish:قروش,kurûş);Greek:γρόσι,grosi; pluralγρόσια,grosia) is derived from theFrenchgros ("heavy"), which itself is derived from theLatingrossus ("thick").[citation needed] It is cognate with theGermanGroschen andHungariangaras.
The Ottomankuruş was introduced in 1688. It was initially a largesilver piece (similar to the Europeanthalers issued by the Ottomans), approximately equal to theFrench écu, or, from other sources, to theSpanish dollar. It was worth 40para. In 1844, following sustaineddebasement, thegoldlira was introduced, worth 100 kuruş. During the late 18th to early 19th centuries it was further reduced to abillon coin weighing less than 3 grams.
As the Ottoman Empire broke up, several successor states retained the kuruş as a denomination. These includedEgypt,Saudi Arabia,Syria,Lebanon andTurkey itself. Others, includingJordan andSudan, adopted the kuruş as a denomination when they established their own currencies.
At the beginning of the 19th century, silver coins were in circulation for 1 akçe, 1, 5, 10 and 20 para, 1, 2 and2+1⁄2 kuruş, together with gold coins denominated inzeri mahbub (3,5 kurush) andaltin. As the silver coins were debased, other denominations appeared: 30 para,1+1⁄2, 3, 5 and 6 kuruş. The final coinage issued before the currency reform consisted of billon 1, 10 and 20 para, and silver1+1⁄2, 3 and 6 kuruş.
In 1844, the Turkish gold lira was introduced as the new standard denomination. It was divided into 100 silver kuruş and the kuruş continued to circulate until the 1970s.
Kuruş eventually became obsolete due to thechronic inflation in Turkey in the late 1970s. A currency reform on 1 January 2005 provided its return as1⁄100 of the new lira.
