Currency

Official currency of Turkey is Turkish Lira (code TRY; symbol TL), divided into 100 kurus (kr). Notes are available in the following denominations: TL200, TL100, TL50, TL20, TL10, TL5 and TL1. Coins are in denominations of TL1 and 50, 25, 10, 5 and 1 kurus.

US dollars and euros are often accepted at shops, hotels and restaurants in tourist areas. The exchange rates set by those merchants vary and may be worse than at money exchange offices.

Foreign Currency Exchange

Foreign currency can be exchanged at banks or money exchange offices (döviz bürosu) as well as some post offices and hotels. Banks are usually less convenient and they charge commission. The exchange offices are plentiful in all cities most towns. Best currencies to change are US dollars and euros; pounds sterling, Japanese Yen, Swiss Franc and Saudi Riyals are also exchangeable. Other currencies than the above mentioned can be difficult to change.

ATMs

Automated Teller Machines (ATMs) are widely available in Turkey and they work on international networks allowing foreign travelers to withdraw money from their debit card or get a cash advance on a credit card. Most popular cards are Visa, MasterCard, Cirrus and Maestro. Most ATMs will only dispense cash in lira.

Credit Cards

Visa and MasterCard are widely accepted by hotels, restaurants, shops, bars in areas frequented by tourists. Smaller establishments usually prefer payment by cash.

Traveler's Checks

Travelers's checks are not widely accepted in Turkey and can only be exchanged at some banks. Best rates are offered for checks in US dollars and euros, but generally they are not a convenient way to obtain local currency in Turkey.

Banking Hours

Typically banks are open from 8:30am to 5:00pm (closing for lunch 12:00am - 1:30pm), Monday to Friday. Some banks in tourist areas and larger cities are open on weekends.

Taxes

The value-added tax of 18% or 23% is included in prices of most items. A tax refund can be claimed for non-Turkish residents when leaving the country. The purchase must be made in a 'tax-free' marked store that has to prepare all the paperwork.

Current Turkish Lira Rates

For other currencies or conversion amounts go to Currency Converter