Türkiye may introduce 500-lira banknote

The decline in the purchasing power of the Turkish lira may lead to the Central Bank of Türkiye issuing a 500-lira banknote soon.

Currently, the 200-lira note remains the highest denomination in circulation in Türkiye. However, inflation and declining purchasing power have made the introduction of a new 500-lira banknote relevant.

According to Turkish observers, the country's Central Bank, has already prepared a new banknote for circulation. It was previously reported that 500 lira could be issued in early 2025.

Let us recall that the 200-lira banknote, introduced in 2009, is equivalent to $5.7 now.