Currency of Turkey ? Best Exchange Rates & Places
Currency of Turkey
When planning your trip to Turkey, it’s crucial to understand the local currency and where to get the best exchange rates. This guide provides essential information to help you navigate currency exchange in Turkey efficiently.
We will share important information about currency of Turkey and Where to get the best exchange rates in Turkey.
You can also read about our “Entrance Form to Turkey” & “How to Get HES Code for Turkey” and “How to Match it with Istanbul card” posts to be fully prepared for your travel to Turkey.
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Understanding Currency Exchange in Turkey: Get the Best Rates
Bank Notes of Turkish Lira
Currency of Turkey is Turkish Lira or shortly Lira.
Banknotes are 5, 10, 20, 50, 100 and 200
Exchange Rates in Turkey
You can pay with your credit or debit card almost in all areas in turkey. But there are still a couple of places that might want to ask cash payment.
In this kind of cases you will need some cash in your wallet.
But besides that,paying cash will give you a lot of bargaining power If you are planning to shop in touristic parts of Turkey.
Knowing the currency and the exchange rate is coming in handy at this point, when you travel to Turkey.
Current Exchange Rates (As of August 2024)
- 1 Euro = 35.90 Turkish Liras (TRL)
- 1 US Dollar = 33 TRL
Here you can find daily updated Foreign currency rates in Turkey
Where to Exchange Currency in Turkey
Exchange Office( Doviz Bürosu ) / Bank / ATM
Exchange Offices
- Exchange offices in Turkey charge zero commission for currency exchanges. However, there is a difference between the buying rate (Alış) and the selling rate. Pay attention to the buying rate when exchanging money.
- The best exchange rates are usually found in exchange offices, particularly in popular areas such as:
- Grand Bazaar
- Beyazit area
- Taksim Square
- Eminonu area
Airports
- Exchange offices at airports typically offer lower rates than those in the city.
Banks
- Banks generally have the lowest exchange rates, so it’s often better to exchange currency elsewhere.
For the latest rates, you can check the central bank’s (merkez bankası) website ;
Payment Methods in Turkey
You can pay with your credit or debit card in almost all areas of Turkey. However, some places may still prefer cash payments. Having some cash on hand can be particularly useful for small purchases or in case of emergencies.
Benefits of Using Cash
Using cash can give you significant bargaining power, especially when shopping in touristic parts of Turkey. Knowing the currency and the exchange rate is essential when you travel to Turkey.
Additional Tips
- Exchange Small Amounts First: When you first arrive, exchange a small amount of money to cover immediate expenses, then look for better rates in the city.
- Use ATMs: ATMs are widely available and can be a convenient way to withdraw cash. However, be aware of potential fees and exchange rates applied by your bank.
- Avoid Exchange Scams: Be cautious of street vendors offering currency exchange services as they may offer poor rates or counterfeit currency.
By understanding the currency exchange landscape in Turkey, you can make informed decisions and ensure you get the best rates for your money. Enjoy your trip to Turkey and make the most of your travel budget!
