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 Money in Turkey: YTL, $, €, £

 

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The unit of Turkish currency is the New Turkish Lira (YTL: Yeni Türk Lirasi; international symbol: TRY), put into circulation on January 1, 2005.

Here's the current exchange rate for the New Turkish Lira. It's best to wait until you get to Turkey to exchange money for New Turkish Liras. Exchange rates outside of Turkey are usually not as good as those inside Turkey.

The New Turkish Lira (YTL) is divided into 100 yeni kurus (New Kurush; that's yeh-NEE koo-ROOSH). Here's how the notes/bills look.

Although you can sometimes use foreign currencies (euros are best, US dollars are good, UK pounds sterling are accepted in some places) for larger transactions, and using non-Turkish currency is legal, you will want to use YTL most of the time.

The easiest way to get cash liras is to stick your home bank card or credit card into a Turkish ATM (bancomat/cashpoint, cash machine). Travelers' checks are a much less efficient way.

You can exchange foreign-currency cash at a Currency Exchange Office (Döviz Bürosu).

The best currencies to carry for changing to YTL are, again, euros, US dollars, and UK pounds.

Many people in Turkey will not accept large bills/notes for small payments, so it's good to juggle your YTL cash-on-hand so that you always have some smaller amounts. Get in the habit of paying with bills/notes that are about equal to twice the amount you're paying (so pay for a YTL23 meal with a YTL 50 note, which gives you YTL27 in change). If you give notes that are three times or more than the price, you're liable to get a dirty look and a request for smaller notes.

Old Turkish Lira notes and coins were withdrawn from circulation during 2005, but there may still be some floating around. YTL1.00 is equal to (old) TL1,000,000. In other words, a million old liras equals one new lira, but you should not accept old liras! More...

Though most people are honest, the few cheats may try to hand you an old TL note with lots of zeros on it. Don't accept it! Count your change and insist on New Turkish Liras only. Say Yeni lira istiyorum! (YEH-nee LEE-rah eess-tee-YOH-room, "I want New Liras [only]")

A century ago, one Ottoman Turkish lira was worth US$5 (and that $5 was worth about $100 in today's dollars).


What It Costs to Travel in Turkey

Currency Exchange Rates

Shopping in Turkey

Bargaining/Haggling

Turkish Bills/Notes

Turkish ATMs (Automated Teller Machines)

Credit Cards

Travelers Checks

Tipping

Travel Details

Turkey Travel Planner Homepage

 

A sample YTL1 note. (Bir means "one." More numbers.) "ÖRNEKTIR GEÇMEZ" means "Specimen. Not negotiable." (This is not printed on real YTL notes!)