Introduction of the New Turkish Lira

With this implementation, six zeros were removed from the currency, which had grown under the effect of long-standing high inflation, and banknotes and coins were put into circulation with new values. The reform aimed to provide ease of calculation and to give the currency a perception of stability. During the transition period, the old and new currencies were used together for a certain time; in subsequent years the word 'new' was dropped.

Source: Wikipedia