The right to issue banknotes has always been considered a privilege throughout history.
The resolution to issue banknotes is among the duties and responsibilities of the Grand National Assembly of Turkey according to Article 87 of the Constitution of the Republic of Turkey. The Grand National Assembly of Turkey has empowered the CBRT to issue banknotes, and this authorization is stated in the Law of the CBRT as well.
Until the Republic of Turkey issued the first banknotes in the E1 emission group, on 5 December 1927, the “Evrak-ı Nakdiye”, the currency inherited from the Ottoman Empire, was the legal tender. As the banknotes of the E1 emission group were printed before the Alphabet Revolution on 1 November 1928, their main texts were in Arabic letters. The second emission group (E2) banknotes, printed in the Latin alphabet, started circulating in 1937. Other groups from E3 to E9 followed this emission group.
E1 – E7 emission group banknotes were put into circulation as Turkish Lira, E8 emission group banknotes were put into circulation as New Turkish Lira following the removal of 6 zeros from our currency on 1 January 2005 and E9 emission group banknotes, with their renewed designs, modified sizes and advanced security features, were introduced as Turkish Lira on 1 January 2009.
Since 1958, our banknotes have been produced by the General Directorateof Banknote Printing Plant within the organizational structure of the CBRT. All kinds of designs, plate making and printing that require extensive experience have been undertaken by the Banknote Printing Plant, with its own professional staff and equipment.
All information about banknotes in circulation and those issued throughout the Republican period can be found in the “Banknotes” section.