In a move that will sit well with the start of formal accession negotiations with the EU in a new era of low inflation, Turkey will start 2005 with a slimmed down New Turkish lira.
After 30 years of hyper-inflation, now tamed, the Turkish lira has in recent times been notorious as the world’s most zero-laden currency. One US dollar, for example, was worth about TL1.5 million at the end of October and a pound sterling was fetching more than TL2.7
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