What Currency to Use in Turkey: A Guide for Travelers

Turkey is a fascinating country to visit with its rich history, vibrant culture and stunning natural landscapes. As you plan your trip, an important question arises what currency should you use while in Turkey? This comprehensive guide covers everything you need to know about spending money during your travels in this captivating nation.

The Turkish Lira is the Official Currency

The official currency of Turkey is the Turkish lira (TRY). The lira is divided into 100 kuruş. Banknotes come in denominations of 5, 10, 20, 50, 100 and 200 liras. Coins are available in 1, 5, 10, 25 and 50 kuruş.

The Turkish lira has gone through periods of instability and inflation over the decades. In 2005, Turkey dropped six zeros from the currency and introduced the “new” lira. When you exchange money, be sure to avoid old banknotes printed before 2005, as they are no longer valid.

When to Use Foreign Currencies

While the lira is the official currency, U.S. dollars and euros are sometimes accepted, especially in major tourist areas Prices may even be listed in dollars or euros at some shops and restaurants However, you’ll always get the best exchange rates when paying in lira.

Businesses that take foreign cash often apply poor exchange rates to compensate for the inconvenience. It’s wise to pay in lira whenever possible, and only use dollars or euros as a last resort. Carry a small amount of U.S. cash or euros for emergencies.

When paying in foreign currency, always confirm the exchange rate in advance Don’t accept offers to pay in your home currency on credit cards, as this often carries heavy fees.

Getting Turkish Lira Before Your Trip

Since it’s best to primarily use lira in Turkey, it’s wise to acquire some before your trip. Here are some options:

• Exchange currency at your local bank – Call ahead to check rates and fees. Exchanging a larger sum can reduce fees.

• Order lira online – Companies like US First Exchange ship currency directly to your home. Rates are usually better than local banks.

• Use an airport kiosk – Many airports have exchange kiosks after passing through security. The rates and fees vary significantly.

• Withdraw lira from an ATM – This is convenient, but Turkish ATMs often charge high fees. Check with your bank on international fees.

When exchanging money, avoid exchanging large sums at once. Only convert what you need for a few days to avoid unused currency if plans change.

Paying with Cash vs Cards in Turkey

Cash is widely used for small purchases at street stalls, cafes, taxis and local shops in Turkey. Always carry some small lira notes and coins for these transactions.

For hotels, organized tours and higher-end restaurants, credit cards are generally accepted. Visa and Mastercard have the best coverage. American Express and Discover are less commonly accepted.

To avoid credit card fraud, use chip/PIN cards rather than swipe/signature cards when possible. Inform your bank of your travel dates so your card isn’t blocked when used abroad.

Finding ATMs in Turkey

While it’s wise to bring some lira, having access to ATMs is handy for getting cash when needed. ATMs are widely available, but fees can be high.

When using ATMs:

• Opt for bank ATMs over stand-alone ones, which often have excessive fees

• Choose a machine affiliated with a major Turkish bank, like Ziraat Bank or VakıfBank

• Decline any offer to convert currency; choose to withdraw lira

• Withdraw larger amounts less frequently to reduce fees

• Notify your bank of travel plans to avoid account blocks

Ask your bank if they have partnerships with Turkish banks to reduce ATM fees. For example, Bank of America customers can use Akbank ATMs with no fee.

Tipping Etiquette with Turkish Lira

Tipping is an important custom in Turkey. Have small lira notes on hand for tipping waiters, tour guides, hotel staff and taxi drivers.

Some general tipping guidelines:

• Restaurants: 10% is standard, 15%+ for exceptional service
• Taxis: Round up the fare by a lira or two
• Porters: 3-5 lira per bag
• Tour guides: 20-25 lira per traveler for a full day

For food vendors, haircuts and other small services, tipping a lira or two is appreciated. Most locals tip in cash, so have lira ready.

Budgeting in Turkish Lira

While Turkey is relatively affordable for travelers, costs can add up. Creating a vacation budget in lira can help you monitor spending.

Here are some average costs in lira:

• Museum admission: 20-40 lira
• Souvenir t-shirt: 35-50 lira
• Coffee: 8-15 lira
• Full meal: 40-80 lira
• Hotel room: 200-400 lira/night

Adjust your per-day budget based on your travel style. Budget extra for activities like tours, entertainment and car rentals.

Track your spending to avoid overspending. Withdrawing limited funds from ATMs and keeping receipts helps control costs.

Exchanging Leftover Turkish Lira

Don’t be left holding large amounts of leftover lira after your trip. Before departing Turkey, spend down extra cash on souvenirs, meals or snacks for the airport.

If you still have lira, consider:

• Spending at the airport – Duty-free shops and restaurants may accept lira.

• Exchanging at the airport – Rates and fees are usually poor, but better than taking lira home.

• Giving as tips – Offer leftover loose change or small notes as tips.

• Donating – Leftover bills can be donated to charitable causes like orphanages.

• Keeping as souvenirs – Hold onto a few small lira notes or coins.

Turks are proud of their currency and rightfully so. By sticking to the local lira as much as possible, you’ll get the best deals and fully experience authentic Turkey. With this currency guide at your side, you can travel Turkey with confidence!