The New Turkish Lira (TL) is no longer "new". In order to make it easier to handle Turkish money, the government has introduced new Turkish currency since January 2005.
There have been 6 zeros taken away from the amount, so it became smaller sums to calculate. This simply means instead of handling 1.000.000,0 TL, you now have 1,0 TL.
The exchange rate is always going up and down, so you should always ask for the actual rate. Banks (opening hours are from Monday to Friday 08.30 until 12.00, 13.30 until 17.00) and hotels change Euro banknotes and Euro travellers cheques. You usually get a slightly worse exchange rate when changing in a hotel. Most of the hotels, shops and restaurants accept most well-known credit cards. As well as about 750 000 shops, petrol stations and other outlets which accept credit cards, there are about 11.000 cash dispensers in Turkey.
There are 6 different coins and 6 different bank notes available.