Parliamentary Adopts Draft Law On Omission Of Six Zeros From T.L.

ANKARA - The Parliamentary General Assembly approved on Wednesday draft law which foresees omission of six zeros from Turkish Lira (TL).
The draft law also foresees that name of monetary unit of Turkey will be ''New Turkish Lira''.
According to the draft law, one new TL will be equal to one million TL and new ''kurus'' will be sub-monetary unit of new TL. One new TL will be equal to one hundred kurus.
Draft law said that new and old TL would be in circulation simultaneously between January 1, 2005 and December 31, 2005.
(EÖ-BRC) 28.01.2004