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CBRT

The preparations to establish the Central Bank of the Republic of Turkey (CBRT) began in 1926.

The bank opened officially in 1932, and had, originally, a privilege of issuing banknotes for a period of 30 years. In 1955, this privilege was extended until 1999. Finally it was prolonged indefinitely in 1994.

The Bank was to support economic development of the country. In order to fulfill this aim, the Bank was given several duties: setting rediscount ratios and to regulate money markets, executing Treasury operations, taking, jointly with the Government, all measures to protect the value of Turkish currency – the Turkish Lira.

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