200 TL has become the mandatory currency of the economic crisis: Half of the money in circulation...

The 200 TL banknote, which was put into circulation in 2009 as Turkey's largest denomination banknote primarily for interbank transactions, has become the 'essential' currency for daily use as a result of the economic crisis and high inflation.

The 200 TL banknote now accounts for nearly half of the banknotes in circulation.

According to data compiled by Cumhuriyet from the Central Bank,

The number of banknotes in circulation increased by 24 percent compared to September 2023 (year-on-year) and by 52.3 percent compared to September 2022 (two-year), rising to 5 billion 280 million 711 thousand 97 units.

2 billion 623 million 168 thousand 944 banknotes, which accounts for 49.7 percent of these, consist of 200 TL notes.

In terms of volume, the share of 200 TL banknotes in the total was 35.2 percent in September 2023, compared to 24.3 percent in September 2022.

The increase rate of 200 TL banknotes was 74.8 percent on an annual basis and 211.8 percent over the last two years.

The share of 200 TL banknotes in the total amount is naturally much larger. While the total value of banknotes in circulation has reached 656.9 billion liras, the share of the 200 TL note within this has risen to 79.9 percent.

This share was 66.4 percent in September 2023 and 52.6 percent in September 2022.