Note: You may exchange traveller’s checks at Post Offices in touristic places and at certain banks.
Turkish Lira is the currency of Turkey. New Turkish Lira banknotes and coins were put into circulation from 2005 until the end of the year 2009, according to the Law on the Currency Unit of the Republic of Turkey, numbered 5083 and published in the Official Gazette on January 31, 2004. The old Turkish Lira banknotes and coins were withdrawn from circulation by January 1, 2006.
The Turkish Lira banknotes and coins were put into circulation as of January 1,2009.
1 – What is the composition of denominations for the Turkish Lira banknotes and coins ?
Banknotes: 5, 10, 20, 50, 100 and 200 Turkish Lira (TL),
Coins: 1, 5, 10, 25, 50 Kurus (Kr) and 1 Turkish Lira (TL).
2 – What is the conversion rate between New Turkish Lira and Turkish Lira?
On January 1, 2009, only the prefix ‘New’ was removed from the ‘New Turkish Lira’. Therefore, there was no change in the value of the currency, only the name of the currency was changed.
3 – Which banknotes are frequently used in the circulation ? Will 200 TL banknotes be only used in the banking sector ?
When we look into the denominational breakdown in the economically stable countries, it can be seen that the most frequently used denominations are those that have medium purchasing power. In our country, 50 and 20 TL, respectively, are the most frequently used denominations as per amount. There is no restriction regarding with the use of 200 TL banknotes, but it is rather supposed to intensively be used in inter-bank transactions. It is an important point to use every denomination in a balanced manner in order to keep the quality of banknotes at a certain level and to prevent the lack of small denominations in markets.
4 – Will there be any adverse effect on inflation arising from the joint circulation of the E-9 Emission Group Turkish Lira banknotes and 200 TL denominations, which has a value one level higher than previous Group ?
It is known that the composition of denomination has no effect on inflation.
5 –What kinds of security features are incorporated into the Turkish Lira banknotes ?
The security features of the Turkish Lira banknotes declared to the public are divided into two groups: public-oriented and professionals-oriented features.
These security features are as follows:
I- Public-Oriented Security Features
1- Security Thread:
All banknotes include security thread embedded on the paper bearing the letters “TL” and the denomination numerals with UV feature.
On the observe side, to the blank space at the left-hand side of the banknote, the watermarks of the small version of the Atatürk’s portrait and denomination numerals are placed and can be seen from both sides when the banknote is held up to the light.
3- Holographic Stripe:
All banknotes include holographic strip foil placed on the observe side. The foil is made up of various motifs that are in harmony with the banknote’s design. When looking at a banknote from various angles, these motifs display colourful and shiny reflections.
4- Iridescent Stripe:
Located on the reverse side of the banknote, iridescent stripe gives different colour effects, shifting into a golden yellow. The denomination numerals and the letters “TL” can be seen when the banknote is tilted.
5- Intaglio Printing:
It is applied at various positions on the observe side of the banknote and can be felt with fingertips.
6- Latent Number:
When the banknote is tilted horizontally at the eye level, a latent denomination numerals can be seen in the heptagon design located at the lower right corner of the banknote’s observe side.
7- See Through:
When the banknote is held up to the light, on the upper left side, there is see-through register which front and back elements of the motif combine to form the denomination numerals of the banknote.
8- Difference in Dimensions:
All of the banknotes differ 6 mm in length whereas every successive group of 2 banknotes differ 4 mm in width.
5 TL : 64 x 130 mm
10TL : 64 x 136 mm
20 TL : 68 x 142 mm
50 TL : 68 x 148 mm
100 TL : 72 x 154 mm
200 TL : 72 x 160 mm
9- Tinted Banknote Paper:
Paper tinted with a lighter tone of the dominant colour of the denomination is used.
5 TL : Light brown.
10 TL : Light red.
20 TL : Light green.
50 TL : Light orange.
100 TL : Light blue.
200 TL : Light purple.
10- Security Feature For Visually Impaired :
On the observe side of the banknote, to the upper left corner of the watermark, “dots” using the Braille alphabet, are applied by intaglio printing which are different for each denomination and can be felt with fingertips.
II- Professionals-Oriented Security Features
Minilettering is applied at various positions on observe and reverse sides of the banknotes.
2- Features Visible Under UV Light:
On all of the banknotes under UV light;
• Fine fibres which are not normally visible, but embedded in the banknote paper can glow in blue and red colours under UV light.
• On Atatürk portrait, the denomination numerals an d the letters “TL” appear and glow in red.
• The security thread glows in blue, red or yellow depending on denomination.
• The serial and sequence numbers printed in “red” glow in “bright-and-shiny red” and those printed in “black” glow in a “yellowish green”.
• Banknote paper does not fluoresce under UV light.
Micro letters consisting of the number showing the denomination numerals and “TL” letters are placed within the crescent-star motive located on the observe side of the banknote.
6 – What are the security features applied to the TL banknotes in addition to those for the banknotes in the previous emission group ?
The most important security feature of the TL banknotes is the holographic stripe foil which is applied for the first time in the world in terms of its holographic features. Iridescent stripe located on the reverse side of the note and the intaglio printing of “dots” for visually impaired people are other innovative features that applied to the banknotes.
7– What are the first time applied features on the TL banknotes ?
With the new designs and dimensions, renewed Turkish Lira banknotes feature many firsts within. The firsts can be listed as follows:
• Series design concept,
• Systematic size variation between the denominations,
• Different Atatürk portraits,
• All security features applied in the same position and in the same manner on all denominations,
• Holographic stripe,
• Iridescent stripe,
• Tinted banknote paper,
• A security thread with the value numeral and the letters “TL” that becomes visible under UV light.
8 – What does “series design concept” refer to ?
1- The design in series includes a common base depending on the crescent star figure.
2- Three different portraits of Atatürk are applied while two of them are the same in consecutive denominations.
3- The security features are located in the same place in all denominations. So, all essential features included in all denomination s can be easily learned.
4- The security features are dispensed both to observe and reverse sides in a balanced manner.
5- Graphical and linear works are applied instead of photographic ones.
6- On the observe and reverse sides of each denomination, the motifs are used in connection.
7- Not only limited to the observe and reverse sides of each denomination, there are design connections and common features among the denominations. For example, there are two design setups; one is on 5, 20, 100 TL and the other is on 10, 50, 200 TL.
8- The digits in serial and sequence number are increased from 9 to 10 and are scaled down in conformity with the banknote dimensions as regards to the YTL.
9- There is a difference with 6 mm in length for each denomination and with 4 mm in width for each denomination group consisting of two banknotes as the denominational value of the banknote increases.
10- Tinted note paper is used for each denomination
11- Contrast pastel colours are used in consecutive banknotes.
9 – Which criteria were considered in determination of the portraits appearing in the denominations ?
The portraits appearing on the denominations were determined according to the following criteria;
• Being a scientist or an artist
• Grew up in our society, no discussion arising as to their native-born identity.
• Being a universal value, carrying out our society outwards or bring the universal values into our society.
• Not identified with a specific political view
• Not appeared in our banknotes or in any other foreign banknotes put into circulation before.
10 –Why are the digits of the serial number increased ?
In order to ensure not to encounter difficulties especially with the banknotes in medium values that may require to be issued at high amounts, the digits were increased from 2 to 3.
11 – What will be the international currency code of the Turkish Lira ?
The current international currency code, TRY 949 2, will not change.
12 – Which currency should be used for the declarations submitted after January 1, 2009 regarding the taxation period of the year 2008 ?
The declarations to be submitted after 1 January 20 09 (VAT, Withholding Tax, Provisional Tax, Income and Corporate Taxes) shall be prepared in Turkish Lira and Kurus even if they are related to 2008 taxation period.
13 – Which currency will be used for the accountancy records of the taxpayers as of 1 January 2009 ?
As of January 1, 2009, taxpayers with regular assessment periods should prepare their accountancy records over Turkish Lira and Kurus. For taxpayers who has particular account terms should prepare a trial balance as of December 31, 2008 and correct the currency in their balances as Turkish Lira and Kurus. As of January 1, 2009, they should make their accounting records over Turkish Lira and Kurus.
14 – After January 1, 2009, which banknotes will be used in ATMs ?
After January 1, 2009, during 1-year transition period, both the New Turkish Lira and the Turkish Lira banknotes may be put into ATMs. In the same way, both the New Turkish Lira and the Turkish Lira banknotes will be accepted in ATMs as cash deposits during 2009. However, as of January 1, 2010, only the Turkish Lira banknotes will be accepted. Cash deposits will be recorded in Turkish Lira as of January 1, 2009, even if the cash deposits are in New Turkish Lira.
15– What are the essentials of banknote use ?
In order to improve the note quality in circulation , it is required;
• to pay attention and care to prevent the rubbin off the banknotes, not to write over, crease, pierce or tear the banknotes,
• not to tape the torn banknotes in order to prevent the note to cause system failures,
• to gain the habit of carrying a wallet or purse,
• to change the mutilated or damaged banknotes under their possession via Central Bank branches or banking system.
16 – Where and how can we change the mutilated or damaged banknotes ?
Full banknotes whose values can be identified but a re soiled, washed, painted, burnt, torn or mutilated for any other reasons and banknotes whose surface deficiency is less than 50 % are exchanged at par. Banknotes with 50 % surface deficiency are exchanged with new ones at half face value. Banknotes with surface deficiencies more than 50 % are not exchanged.