What Does TRY (Turkish New Lira) Mean?
Investopedia explains TRY (Turkish New Lira) The Turkish new lira was first introduced at the beginning of 2005 at an amount equivalent to 1 million Turkish old lira by passing a law that removed the last six zeros from the currency. The new lira was introduced after periods of high inflation devalued the old currency. For example, in the late 1960s, 9 liras was approximately equal to 1 U.S. dollar. In 2001, this exchange rate was 1.6 million:1.
