Are 500 lira banknotes being issued into circulation?

Considering that the only banknote currently in circulation in Turkey is the 200 lira banknote, the expectations for the new 500 lira banknotes have increased for both banks and citizens. When will the long-awaited 500 lira banknotes be released?

Due to the years of high inflation in the country, small coins have already been phased out from everyday use by citizens.

Banks no longer accept banknotes smaller than 50 lira in ATMs.

IT'S LIKE VENEZUELA

When a worker receives their salary, just like in Venezuela, they walk around with a stack of money, but cannot even get through the first five days of the month with that money.

ATMS CAN'T MEET DEMAND

As ATMs struggle to respond to high cash withdrawal demands, preparations by the Central Bank of Turkey for issuing new banknotes remain a hot topic.

"PREPARATIONS FOR 500 LIRA BANKNOTES ARE COMPLETE"

Economic expert and former deputy general manager of Ziraat Bankası, Prof. Dr. Şenol Babuşcu, in his statement said: "The year 2024 was the year when the 200 lira banknote was used the most. In 2025, new, larger banknotes are coming. The Central Bank has completed its preparations," confirming that the 500 lira banknotes will soon be released.

BANKERS SAY 500 LIRA BANKNOTES ARE INEVITABLE

Rising living costs and the devaluation of the Turkish Lira are affecting both individuals and the banking sector. In particular, the increased demand for cash and the pressure of exchange rates are raising expectations that the 500 lira banknote could bring some economic relief. However, the Central Bank of Turkey has not yet made an official statement on this matter.

NECESSARY FOR ECONOMIC REVIVAL

The issuance of the 500 lira banknotes could help people make their daily expenses more easily, despite the devaluation of the Turkish Lira and rising costs. However, in order to provide a clear assessment of the impact of this step on the economy, official statements from the Central Bank of Turkey are awaited.