As the final days of 2024 approach, claims about the printing of new banknotes are back on the agenda.

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As purchasing power continues to decline due to high inflation towards the end of 2024, the dominance of the largest banknote in the market is also decreasing. The appreciation of the dollar, euro, and gold against the Turkish lira has reignited discussions about the introduction of new banknotes. Following the Central Bank's decision to print a new 5 TL banknote, the 500 TL banknotes are once again on the agenda.

IN ADDITION TO 500 TL, NEW 1000 TL BANKNOTES ARE ALSO ON THE AGENDA

Experts state that with the potential price increases in the new year, the value of the currency will further decrease, and purchasing power will decline even more. They suggest that a new and larger denomination banknote could be beneficial to prevent this. With the new price increases, it is commented that the significance of smaller banknotes such as 5 TL and 10 TL will diminish on their own. While all these situations occasionally bring new banknote claims to the forefront, it is claimed that the economic management is determined to take action this time. There are even claims that the visuals of the new banknotes have been prepared, and only the printing and market release processes remain.

CENTRAL BANK ANNOUNCED: NEW BANKNOTES HAVE BEEN RELEASED TO THE MARKET

The Central Bank announced that the E9 Emission Group VIII. series 50 TL and 5 TL banknotes have been put into circulation as of November 19.

The announcement from the Central Bank of the Republic of Turkey was published in the Official Gazette. Accordingly, the new series 50 TL and 5 TL banknotes have been released to the market. The changes made to the signatures on the banknotes were disclosed in the Central Bank's announcement.

In the VIII. series 50 TL and VII. series 5 TL banknotes, adjustments were made to include the signature of the President of the Central Bank of the Republic of Turkey, Dr. Fatih Karahan, along with the signature of the Vice President of the Central Bank of the Republic of Turkey, Dr. Osman Cevdet Akçay, on the 50 TL banknotes, and the signature of the Vice President of the Central Bank of the Republic of Turkey, Prof. Dr. Hatice Karahan, on the 5 TL banknotes.

The statement from the Central Bank is as follows:

"From the Central Bank of the Republic of Turkey:

ANNOUNCEMENT REGARDING THE RELEASE OF E9 EMISSION GROUP VIII. SERIES 50 TL AND VII. SERIES 5 TL BANKNOTES TO CIRCULATION

Based on the authority granted to our Bank by Law No. 1211, E9 Emission Group VIII. series 50 TL and VII. series 5 TL banknotes will be put into circulation as of November 19, 2024.

Compared to the previous series banknotes currently in circulation, the signatures on the VIII. series 50 TL and VII. series 5 TL banknotes are arranged as follows, along with President Dr. Fatih Karahan;

• On the 50 TL banknotes, the signature of Vice President Dr. Osman Cevdet Akçay,

• On the 5 TL banknotes, the signature of Vice President Prof. Dr. Hatice Karahan.

The mentioned banknotes are completely identical to the previous series in terms of size, front and back composition, and overall characteristics and appearance, except for the signatures. The new series banknotes will be in circulation alongside the previous series banknotes.

It is announced."