The currency of the Republic of Turkey is the Turkish lira (TRY). The lira has undergone several changes throughout its history, with the current version being introduced in 2005 after a period of hyperinflation. The Turkish lira is subdivided into kuruş, with one lira equal to 100 kuruş. The lira's value can fluctuate based on various factors, including economic policy, inflation rates, and global market conditions. As Turkey is a significant economy located at a crossroads of Europe and Asia, the lira plays a crucial role in both regional and international trade and finance.