How the 200 TL banknote melted away
As purchasing power declines, the money in citizens' pockets is rapidly losing value.
When our largest banknote was first introduced in 2009, it could buy approximately 3 quarter gold coins. Now, 8,888 liras are needed for 3 quarter gold coins, meaning 44 of the 200 TL banknotes are required.
Inflation has effectively decimated the purchasing power of our largest banknote, the 200 lira. When it first entered our wallets on January 1, 2009, we could buy 3 quarter gold coins, 131 dollars, 94 euros, or 63.5 liters of gasoline with 200 TL. 14 years have passed, and today our largest banknote is still 200 TL. Today, 200 liras barely cover nearly 1/15th of a quarter gold coin. To buy 3 quarter gold coins, exactly 44 of the 200 TL notes are needed.
By the quarter gold coin calculation: With 200 liras at that time, one could buy approximately 3 quarter gold coins at 69 liras each. Today, 8,888 liras are required to buy 3 quarter gold coins, which have risen to 2,962 liras each.
News Source: 12punto
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