January 1, 2005 marked the introduction of the New Turkish Lira (Türk Lirasi, TL), with six less zeros than the old Turkish Lira (TL) currency.
The Turkish Lira is equivalent to one million (old) Turkish Liras (TL). In other words, six zeros were dropped from the old TL to make the TL.
The Turkish Lira is divided into 100 Kurus (Kurus, yeh-NEE koo-roosh).
TL notes (bills) are in denominations of TL 1, 5, 10, 20, 50 and 100.
TL coins are in denominations of KRS 1, 5, 10, 25 and 50 (Kurus) and TL 1.