The now old New Turkish Lira, or YTL, banknotes are being withdrawn from circulation starting New Year’s Day and will be fully replaced by Turkish Liras, or TL, over the course of 2010.

Turkey switched to the YTL on Jan. 1, 2005 as part of a drive to reduce inflation. The currency dropped six zeros from its banknotes at the time.

The Central Bank put the TL into circulation at the beginning of 2009 to replace the YTL.

2009 was the transition year for the two currencies during which the YTL and TL were in circulation together.

YTL banknotes will be redeemable at Central Bank branches for 10 years, but as of Jan. 1, 2020 the YTL banknotes will be null and void.