New Turkish banknotes to be put into circulation: Central Bank
The head of Turkey's Central Bank said that new banknotes would have 10 security features.
The head of Turkey's Central Bank said on Tuesday that citizens should be informed well on the security features of the new banknotes to be put into circulation as of January 1, 2009.
Holding a news conference in capital Ankara on the upcoming transition process from New Turkish Lira (YTL) to Turkish Lira (TL), Central Bank Governor Durmus Yilmaz said that the new banknotes would have 10 security features and citizens should learn and check properly at least 3 of them.
Yilmaz said that the designs and dimensions of the new banknotes and coins were completely renewed.
Noting that the new banknotes had advanced security features, Yilmaz said a new type of hologram foil stripes would be used in TL banknotes for the first time in the world.
Yilmaz said the new TL banknotes and coins that would be released as of January 1, 2009 would be in circulation together with YTL banknotes and coins throughout 2009.
Upon the completion of the one-year circulation period, YTL banknotes and coins would be accepted and changed by Central Bank and the branch offices of Ziraat Bankasi for 10 years starting from January 1, 2010, Yilmaz also said.
Yilmaz said that citizens did not need to rush to change their YTL banknotes and coins into TL as a one-year period was envisaged for the transition process.
"We expect a major part of the money in circulation to be changed with TL banknotes and coins within the first half of 2009," he said.
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