What currency did Turkey introduce in 2005 after removing six zeros from the old lira?

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The currency Turkey introduced in 2005 after removing six zeros from the old lira was the new Turkish lira.

Turkey introduced the new Turkish lira on 1 January 2005 as part of a major redenomination. One new lira equaled 1,000,000 old Turkish lira. The change addressed the extremely large denominations created by decades of inflation and made prices and accounting easier to handle.

The new currency was divided into 100 kuruş. From 2005 to 2008, the official name was Yeni Türk lirası, meaning “new Turkish lira.” In 2009, the word “new” was dropped, and the currency became the Turkish lira again.

The lira’s symbol, ₺, was adopted in 2012. The modern lira should be distinguished from earlier Ottoman and Turkish monetary issues, because Turkey has used several versions of the lira over its history.

Source: Wikipedia · fact-checked Sept. 2026

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