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5 000 000 Lira
| Issuer | Türkiye Cumhuriyet Merkez Bankası (Central Bank of the Republic of Turkey) |
|---|---|
| Year | 1997 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | 162 × 76 mm |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | TÜRKİYE CUMHURİYET MERKEZ BANKASI 5000000 BEŞ MİLYON TÜRK LİRASI 14 OCAK 1970 TARİH VE 1211 SAYILI KANUNA GÖRE ÇIKARILMIŞTIR (Translation: Central Bank of the Republic of Turkey, Five Million Turkish Lira, Issued according to the law number 1211 of 14 January 1970) |
| Reverse description | Log in to see details |
| Reverse lettering | TÜRKİYE CUMHURİYET MERKEZ BANKASI BEŞ MİLYON TÜRK LİRASI ANITKABIR ANKARA (Translation: Central Bank of the Republic of Turkey, Five Million Turkish Lira, Anıtkabir Ankara) |
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| Comments |
By 1997, Turkish inflation had been running at triple-digit annual rates for the better part of a decade, forcing denominations that would have been unthinkable a generation earlier. The 5,000,000 Lira note is a direct product of that spiral — in 1970, a single U.S. dollar bought roughly 9 Lira; by the time this note was printed, the rate had collapsed past 100,000 Lira to the dollar.
Turkey's central bank eventually addressed the accumulated zeros through a redenomination in 2005, when one New Turkish Lira replaced one million old Lira, effectively erasing six zeros from the currency overnight.