|Turkish Lira symbol|
Old Liras, New Liras
From 2005 through 2008, the Turkish currency was called th New Turkish Lira (Yeni Türk Lirası, YTL or TRY).
As of December 31, 2009, the 2005 New Turkish Lira (YTL) notes are no longer accepted for payment, but may be exchanged for the newer 2009-series Turkish Lira notes at any branch of the Central Bank of the Republic of Turkey (TC Merkez Bankası), or TC Ziraat Bankası.
The current Turkish Lira is equivalent to one million (old, pre-2005) Turkish Liras (TL). In other words, six zeros were dropped from the old TL in 2005 to make the YTL, which is now—again—called simply “TL.”
Old pre-2005 Turkish Liras
The YTL replaced the old pre-2005 Türk Lirası (TL, TRL). Old Turkish liras were withdrawn from circulationduring 2005.
Note that you should not accept pre-2005 Turkish Lira notes —the ones with lots of zeros—any more. They are no longer legal for payment. That old 1 million TL note won’t even buy you a cup of Turkish coffee.
Old TL notes may now be exchanged for 2009 TLs only at Turkish Central Bank (TC Merkez Bankası) offices or, in the absence of a Central Bank office, at a TC Ziraat Bankası office, until December 31, 2016.
After December 31, 2016, old TL notes and coins will no longer be legal tender (ie, official currency). In other words, they will be worthless except for their curiosity or collectors’ value.
Besides out-of-date Turkish lira notes, you may encounter counterfeit Turkish lira notes, as well as fake US dollar and euro notes. Here’s how to recognize. them. More…
|Turkish Central Bank|