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    Out with the old, in with the new

    Hürriyet Haber
    01 Ocak 2006 - 14:11Son Güncelleme : 01 Ocak 2006 - 14:12

    As the transition stage from TL to YTL comes to an end, we will begin to use solely the New Turkish Lira. As of today, TL banknotes and coins will no longer be in use. All pricing will be in YTL. Companies will not be obliged to show both the TL and YTL in their prices. All banknotes and coins in the old TL currency will be phased out as of today. However, the ‘New’ in New Turkish Lira (or Yeni), will be taken out at a later date, which the Board of Ministers will determine.

    Time period for exchange

    While it will be possible to exchange TL banknotes at Ziraat and Central banks, for a further 10 years, they will only exchange coins for a period of 1 year.

    Trouble finding change

    The transition period, during which citizens and shop-owners alike got accustomed to the YTL, the introduction of the 50YTL and 100YTL banknotes has meant an increasing struggle in finding enough change. Dolmus and taxi drivers are amongst the most troubled by this phenomenon; these are their evaluations: “It makes no difference to us whether it is TL or YTL. All we want is for the customer to pay with coins. Customers do not have any change on them when they are taking a cab, paying for a 5 million ride with a 50YTL or 100YTL banknote.”

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