The Turkish lira is the official currency of Turkey. It is abbreviated as TRY and is symbolized by ₺. The lira has undergone several changes since its introduction, including a significant revaluation in 2005 when the new lira replaced the old lira at a rate of 1,000,000 to 1. The value of the Turkish lira can fluctuate due to various economic factors, including inflation and political stability. It is used for everyday transactions in Turkey and is an important part of the country's economy, influencing trade and investment.