Catalog
1 000 000 Lira
| Issuer | Türkiye Cumhuriyet Merkez Bankası (Central Bank of the Republic of Turkey) |
|---|---|
| Year | 1995-1996 |
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| Value | Log in to see details |
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| In circulation to | Log in to see details |
| Reference(s) | P#209 |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | TÜRKİYE CUMHURİYET MERKEZ BANKASI 1000000 TÜRK LİRASI BİR MİLYON 1000000 ATATÜRK BARAJI – ŞANLIURFA (Translation: Central Bank of the Republic of Turkey, One Million Turkish Lira, Atatürk Dam – Şanlıurfa) |
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| Protection type | Log in to see details |
| Protection description | Portrait of Kemal Atatürk watermark visible when held to light; embedded security thread visible when held to light |
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| Comments |
Turkey's inflation problem by the mid-1990s had become structurally embedded — annual rates were running above 70 to 80 percent through much of the decade, and the lira was losing ground continuously against hard currencies. The one-million denomination, unthinkable a generation earlier, was by 1995 roughly equivalent to a few US dollars at the official rate.
The Banknot Matbaası in Ankara had been printing Turkish notes since 1955, giving the central bank full domestic control over production — a practical advantage when high inflation demands rapid, large-volume reissues. This series was superseded when Turkey redenominated in 2005, removing six zeroes to create the New Turkish Lira at 1:1,000,000.