What is the smallest known unit of measurement in the world? The Italian lira.
Turkish lira was running 8068 per US dollar in 1992. Italian lira was 1300 per US dollar the following week. I suspect Turkish lira are worth even less than Italian lira today.
I haven't bothered to check exchange rates in a very long time. I visited Rome, Italy the first week of March 2005. The Euro was running around $1.30 per USD. It was an expensive visit.