New Turkish notes spark spike in printing costs
The Central Bank of Turkey saw the cost of printing banknotes leap 55% in 2009, its Annual Report, published on Thursday, showed.
The cost of printing banknotes leapt to TL39.3m ($26.1m), compared to TL25.3m in 2008. The central bank explained that this was due in part to a 23% increase in the number of banknotes printed. The increase in cost also reflected the fact that Turkish lira notes are more expensive to manufacture than the older New Turkish lira notes, as they contain more security
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