The Turkish Lira (symbol: ₺; currency code: TRY) is the official currency of Turkey and the Turkish Republic of Northern Cyprus. It is subdivided into 100 kuruş. Coins in circulation include 1, 5, 10, 25, and 50 kuruş, as well as 1 lira; banknotes are issued in denominations of 5, 10, 20, 50, 100, and 200 lira. Introduced in 2005, the New Turkish Lira replaced the old lira at a rate of 1 new lira = 1,000,000 old lira, as part of economic reforms to combat hyperinflation. In 2009, the "new" designation was dropped, and the currency is now simply known as the Turkish Lira. Today, travelers often monitor the AUD→TRY rate when planning visits to places like Istanbul, Cappadocia, or the Turkish Riviera—and balance cash and digital payments for local experiences.