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New
Turkish Lira
(YTL-Yeni
Turk Lirasi) |
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The New Turkish Lira (YTL) and its sub-unit YKr
(New Kurush-Yeni Kuruŝ)
was put into circulation on 1st
January 2005 .
The New Turkish Lira is subdivided into 100 New Kurush (yeni kuruŝ). The symbol is YTL and the ISO 4217 code is TRY.
Denominations:
YTL banknotes: 1, 5,
10, 20, 50, and 100 YTL
Coins: 1, 5, 10, 25,
50 New Kurush and 1 New Lira
(YTL).
To facilitate the recognition of banknotes and to prevent confusion
in the transition to YTL, denominations with the same
purchasing power was issued in similar colours and designs
for both TL and YTL.
The Turkish Lira (TL) banknotes and coins were in circulation between
1st January 2005 and 31st
December 2005, along with the New Turkish Lira (YTL)
banknotes as well as the new coins.
TL (old) banknotes and coins were withdrawn from circulation at the end
of 2005.
From 1st January 2006 TL (old) banknotes
can be converted into the New Turkish Lira for a period
of 10 years by the Central Bank of
the Republic of Turkey. (T.C. Ziraat
Bankasi will carry out this task at cities where the
Central Bank does not have branches)
From 1st January 2006 TL (old) coins can
be converted into the New Turkish Lira coins for a period
of 1 year by the Central Bank of the
Republic of Turkey and Ziraat Bank (T.C. Ziraat
Bankasi).
When converting TL values to YTL, the conversion rate is
1.000.000 TL = 1 YTL. (Six zeros are deleted from
TL)
The "new" pre-fix will be removed on 1st January 2009.
A new series of banknotes will enter circulation on 1st January 2009. The new banknotes will refer to the currency as "Turkish Lira" rather than "New Turkish Lira".
The New Turkish Lira banknotes wŭill be in circulation between
1st January 2009 and 31st December 2009 (although still redeemable at branches of the Central Bank until 31st December 2019), along with the new banknotes (Turkish Lira).
FREQUENTLY ASKED QUESTIONS ON YTL
For further information on banknotes and coins
Daily indicative exchange rates
announced by the Central Bank of Turkey |
