What Currency Do They Use in Turkey? A Guide to the Turkish Lira

Turkey, located at the crossroads of Europe and Asia, is a popular travel destination known for its rich history, stunning landscapes, and mouthwatering cuisine. If you’re planning a trip to this fascinating country, one of the first things you’ll need to figure out is what currency to take.

The official currency of Turkey is the Turkish lira (TRY or ₺). The lira has a long and turbulent history, undergoing many changes and revaluations over the years Here is a quick overview of the Turkish lira and some tips on using money in Turkey

A Brief History of the Turkish Lira

• The Turkish lira was introduced as the currency of Turkey in 1923 after the fall of the Ottoman Empire. It replaced the Ottoman lira.

• The lira remained relatively stable until the 1970s when high inflation started rapidly devaluing it.

• In 2005, Turkey dropped six zeros from the currency and introduced the “new” Turkish lira due to hyperinflation. 1 new lira = 1,000,000 old lira.

• The currency code was changed from TL to YTL (Yeni Türk Lirası).

• In 2009, the word “Yeni” (new) was dropped and the currency was renamed back to just the Turkish lira (TRY).

Turkish Banknotes and Coins

Turkish lira banknotes come in denominations of 5, 10, 20, 50, 100 and 200 liras. The coins are 1, 5, 10, 25, and 50 kuruş.

• The banknotes feature Mustafa Kemal Atatürk, founder of modern Turkey, on the front.

• Each banknote has a different prominent Turkish figure on the back.

• The 5 lira and 50 lira banknotes look very similar, so take care not to mix them up!

Can You Use USD or Euros in Turkey?

While euros and USD are accepted in some tourist areas, it’s best to pay with Turkish lira to get the best exchange rates. Prices in foreign currencies are often inflated.

Always have some cash lira on hand as many local shops, markets, transportation, etc. only accept lira.

How to Get Turkish Liras

There are several options:

• Withdraw lira from a Turkish ATM using your debit card. Choose to be charged in liras, not your home currency.

• Exchange foreign cash at currency exchanges (döviz bürosu) in Turkey. Avoid airport exchanges as rates are worse.

• Order lira online before your trip for home delivery or airport pickup.

• Use a prepaid travel money card which you can load with lira and use like a debit card.

Tips for Saving Money in Turkey

• Visit during shoulder season to avoid peak summer rates.

• Stay in budget accommodation like hostels or self-catering apartments.

• Take buses and public transport instead of taxis or rental cars.

• Eat street food and where locals eat. Avoid touristy restaurants.

• Shop at markets and bazaars and haggle for deals.

• Buy a Museum Pass for entry to hundreds of sites.

• Drink Turkish coffee or tea instead of overpriced imported drinks.

Using Cards and Getting Cash

• Credit/debit cards are widely accepted in cities and tourist areas. Inform your bank of travel plans.

• ATMs are everywhere, but check for withdrawal fees.

• Have cash as backup for rural areas or small shops that don’t accept cards.

• Bargaining is common at bazaars and markets – cash is best.

• Taxi scams are common – demand metered fares and know routes.

• 10% tipping is typical in restaurants and taxis. Look for service charges.

Current Exchange Rate

As of February 2023, the exchange rate is approximately:

• 1 USD = 17.25 TRY
• 1 EUR = 18.85 TRY

Rates fluctuate regularly so check for updates. Use a currency converter before your trip.

Fun Facts About the Turkish Lira

• The lira sign ₺ was selected via a public contest organized by the Turkish central bank.

• Turkey has over 200,000 ATMs, more per capita than any other country.

• The lira was listed in the Guinness Book of Records as the least valued currency in the 1990s.