Statement Showing the Necessity of 500 TL Banknotes

Economist Şenol Babuşçu, in his study Requirement of 500 TL and 1000 TL banknotes On the other hand, he emphasized that 5 TL and 10 TL coins will also be required. The text of the description is as follows:

After the election, whether the current government continues or the opposition comes to power In the work to be done within 3 months Printing the 500 TL banknote and issuing the 5 TL coin is a priority.

Why 500 TL Banknote?

one- 500 TL banknote (as long as the emission remains the same) does not cause inflation. Inflation gives birth to the 500 TL banknote. The main objective of the Central Bank is price stability (fighting inflation) and maintaining the value of TL. These issues are clearly stated in the law. If the Central Bank had done its job and fought against inflation and preserved the value of TL, there would be no need for 500 TL banknotes. The need for 500 TL banknotes stemmed from the Central Bank’s failure to fulfill its duties.

2- Turkish lira, Your 200 TL banknote It has lost a lot of value since its release in January 2009. To give an example, in January 2009, 1 dollar = 1.53 TL and the largest banknote, 200 TL, was 131 dollars. Today, 1 dollar = 20 TL, and 200 TL can be purchased for 10 dollars.

To give another example, while in January 2009, 1 liter diesel was 2.37 TL and 84 liters diesel was bought with 200 TL, today 1 liter diesel is 22 TL and 9 liters diesel can be purchased with 200 TL.

3- International acceptance is the share of the largest denomination banknote in emissions. If it exceeds 50% indicates that a larger banknote should be issued. The largest banknote as of now The share of 200 TL in emissions has exceeded 59%.

Another acceptance is that if the share of the 2 largest banknotes in the emission exceeds 90%, a higher denomination banknote should be issued. In our country, the share of 200 TL and 100 denominations, which are the two biggest banknotes, in the emissions is 92%. In this case, the necessity of issuing the 500 TL banknote is obvious.

In conclusion after the election Within 3 months, the Central Bank will be asked to put the work of 500 TL banknote and 5 TL coin in front of the elected government and be asked to be issued.

In 2024, the issue of 1,000 TL banknotes and 10 TL coins will also emerge as a necessity.