site.btaTurkish Central Bank Plans No New Cash Denominations despite Soaring Inflation

The Central Bank of the Republic of Turkiye has no plans to issue banknotes with a higher denomination than the current one, despite inflation devaluing the currency, turkiyetoday.com reported on Monday. Turkiye has six Turkish lira (TRY) banknote denominations: TRY 5, TRY 10, TRY 20, TRY 50, TRY 100, and TRY 200, with the 200 being equivalent to USD 4.78.

The website writes: "The Turkish central bank's dismissal of new Turkish lira denominations comes amid the currency's steep deterioration in recent years, particularly since November 2019, when double-digit inflation began and has continued uninterrupted through September 2025."

The increased inconvenience of having to carry excessive amounts of cash for common purchases has forced many consumers to switch to debit and credit card payments. 

The bank told Turkiye Today that the issuance of any new banknote denomination is determined based on macroeconomic and financial analyses as well as technical evaluations. It added that changes in the composition of banknotes in circulation and developments in non-cash payment instruments and methods in Turkiye are being closely monitored within this framework.