Corresponding the other day with a Turkish attorney on a trademark law matter, he informed me: “In the meanwhile, Turkish currency has undergone some change. Six figures of zeros have been dropped for TRL1,000,000 to have the value of YTL1.00 in order to render the transactions practical.”
A news item about this reports “Turkey launched a new currency Saturday by dropping six zeros from the old one, in a sign of progress in its decades-long struggle with inflation.”
Wow, chopping zeroes off of your currency which were added by government money supply inflation is a sign of progress in the “struggle” with inflation!
