The newly issued 5 and 50 TL banknotes have sparked a debate about waste.

While discussions continue about printing 100 TL and even 5,000 TL, the Central Bank's move regarding 5 TL and 50 TL has become a topic of debate. According to the announcement published in the Official Gazette dated November 19, 2024, the 8th series 50 TL and the 7th series 5 TL banknotes of the E9 Emission Group have entered circulation.

OFFICIAL GAZETTE CENTRAL BANK ANNOUNCEMENT PUBLISHED

The announcement included the following statement:

"Based on the authority granted to our Bank by Law No. 1211, the 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 of the E9 Emission Group currently in circulation, the signatures on the VIII. series 50 TL and VII. series 5 TL banknotes have been rearranged to include President Dr. Fatih Karahan, along with; the signature of Vice President Dr. Osman Cevdet Akçay on the 50 TL banknotes, and the signature of Vice President Prof. Dr. Hatice Karahan on the 5 TL banknotes. These banknotes are completely identical to the previous series in terms of size, front and back compositions, and general characteristics and appearances, except for the signatures on them. The new series banknotes will be circulated together with the previous series banknotes."

IS THE NEW 5 TL A WASTE?

According to the decision, one of the newly printed banknotes is 5 TL and the other is 50 TL. Many social media users, noting that even bread costs 10 TL and that the 5 TL has lost its purchasing power in the market, argued that the reprinting of the 5 TL coin recently released into circulation is wasteful. In contrast, some users claimed that if the 5 TL were not reprinted, products and services priced at 15, 25, 35 TL with 5 TL fractions would be rounded up by opportunists to 20, 30, and 40 TL, which would create new inflation.