Turkish Lira melts away: 200 TL banknotes take over the market! Significant increase in usage rate

Due to the rise in inflation, the number of high-denomination banknotes in circulation has also increased. The usage rate of 200 TL banknotes has risen to 70 percent.

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Turkish Lira melts away: 200 TL banknotes take over the market! Significant increase in usage rate

High inflation, the cost of living, and the exchange rate breaking record after record have eroded the value of the Turkish Lira.

A significant increase has been detected in the use of 200 TL banknotes in the markets.

According to a report by the Ekonomi newspaper, the ratio of 200 TL banknotes, which were introduced to the market in January 2009, to the total emission volume was at the 16 percent level by the end of that year.

According to Central Bank data, the usage rate of 200 TL banknotes rose to 69.6 percent as of December 2023.

As of the end of 2023, the usage rate of 100 lira banknotes fell to 4.3 percent, while the usage rate of 50 lira banknotes dropped to 0.96 percent.

News Source: 12punto