1 TL warning from the Dutch Central Bank
The Dutch Central Bank (DNB) has warned consumers that 1 Turkish lira, which is very similar to 2 euros, has recently been used to commit fraud.
According to the Central Bank, in some businesses, instead of 2 euros, a coin with a value of less than 5 cents is given as 1 TL.
According to BBC Turkey’s Yusuf Özkan, the bank’s statement noted that people who received “a foreign currency very similar to the euro” in exchange after making purchases had recently complained.
LESS VALUE THAN 1 TL
DNB emphasized that the “confusing foreign currency” is the 1 lira coin, which is very similar to the 2 euro coin. The bank posted a photo showing the similarity of both coins.
According to the bank, both the 2 euro and 1 lira bills have the same contrasting colors and are roughly the same size.
However, according to the Dutch Central Bank, the value of the two currencies is very different. 1 Turkish lira coin is worth less than 5 euro cents.
In the bank statement, “Our recommendation; Always be careful when buying change when paying with cash. Because if you buy 1 lira, you only have 5 cents, not 2 euros.
THE MINISTRY HAS REDUCED TO 6.6 GRAMS
1 Turkish lira, minted in 2005 as “YTL” as it was known then, sparked many complaints in Europe.
Due to its similarity to the euro, it was determined that 1 lira was used instead of 2 euros in many cigarette, food and drink vending machines, and gaming machines in European countries at the time.
Therefore, many companies made changes to the vending machines and prohibited the use of currencies other than euros.
The name YTL was changed to 1 TL effective January 1, 2009. This year, due to high costs, the Mint reduced the weight of the 1 TL from 8.1 grams to 6.6 grams.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
