Planning to go to Türkiye? Get fully informed about the Turkish currency, the Turkish lira, which you’ll use for all your purchases. Whether it’s about the form that Turkish money takes or payments, withdrawals, or exchanges, it’s important to properly educate yourself before you set off.
In this guide, you’ll learn everything you need to know about Turkish currency so that you can head off with peace of mind.
What is the official currency in Türkiye?
The official Turkish currency is the Turkish lira, which is issued by the Central Bank of the Republic of Türkiye:
- Its local name is: Türk lirası
- Its symbol is: “₺”,
- Its code is TRY,
- 1 euro is worth around 35 lira,
- Each lira can be divided into 100 kuruş, or piastres.
Check the latest euro-lira conversion rate.
While the Turkish lira is the historical currency of Türkiye, it was replaced from 2005 to 2009 by the New Turkish Lira (TRL or YTL in Turkish), which was created to fight inflation. That Turkish currency had an exchange rate of 1 to 1 million. Today, it is no longer accepted in the country as a means of payment.
What are the coins and banknotes in Turkish currency?
The currency in Türkiye consists of various coins and banknotes, ranging from 5 kuruş to 200 lira:
- Turkish coins: 1, 5, 10, 25 and 50 kuruş, and 1 lira,
- Turkish banknotes: 5, 10, 20, 50, 100 and 200 Turkish lira.
Send money to Türkiye with Western Union
With Western Union, you can send money to Türkiye in just a few clicks at a great rate.
How can you pay in Türkiye?
There are several ways to pay in Türkiye: cash, bank card, traveler’s check, or bank transfer. While cash is the most practical way to pay for purchases in Turkish currency, card payment is now the safest and recommended method for tourists.
Let’s go over the details of these different payment methods:
- Cash: like with Moroccan currency, cash remains the most common means of payment for transactions in Turkish currency. Turkish currency cash is mandatory for payment for taxis and public transport within the country. Furthermore, many hotels and restaurants offer discounts for cash payment.
- Bank card (credit or debit): Bank cards are the safest means of payment in Türkiye. Most businesses have a payment terminal. Prepaid cards are also on the rise in Türkiye, especially for e-commerce payments. However, you should always have Turkish money (cash) on you for small expenses or for places that do not accept cards.
- Traveler’s checks: A certain number of businesses in Türkiye accept traveler’s checks, including hotels. However, payment by traveler’s check is largely discouraged because cashing costs can be very high (up to 20% of the amount). In that case, try to use Turkish currency
Do you have to pay by card or cash?
For small expenses (in grocery stores, markets or public transport), you should use cash. Cards are rarely accepted. For other expenses (hotels, restaurants, stores), pay by card, which is the safest method. However, as payment is made in Turkish lira, pay attention to the conversion rate and bank charges applied.
Whatever your payment method, whether it be card or Turkish money, use your souvenir purchases to practice haggling, a pillar of Turkish shopping culture. You can negotiate the price, as long as you’re always calm and do it with a smile, in souks and bazaars. In stores where the price is clearly displayed, though, you won’t be able to haggle.
Can you pay in euro in Türkiye?
Yes, you can pay in euro in Türkiye. In particular, you can use euro as currency in Istanbul and in major tourist areas. However, change will be given in Turkish lira and you’ll definitely get an unfavorable conversion rate, which is at the discretion of the storekeeper. Ideally, use Turkish currency and keep your euro for emergencies.
Note that you can also pay in dollars under the same conditions as for euro.
Where can you change money in Türkiye?
You can change your money in Türkiye:
- At foreign exchange counters, which are very common in cities (especially for changing currency in Istanbul)
- At foreign exchange counters at railway stations or airports,
- At banks,
- At hotels,
- At some tourist locations.
To avoid losing money, don’t change your money at hotels or airports, which offer unfavorable rates. Foreign exchange counters are preferable, as they don’t generally charge commission. Wherever you change your money in Türkiye, pay attention to the rates being offered.
Change your money to Turkish currency with Western Union and enjoy the best exchange rate. Our foreign exchange counters are open all week and offer safe, fast exchanges.
Where can you withdraw money in Türkiye?
You can withdraw money in Türkiye at 1 of the 14,000 bank counters and ATMs in major cities and tourist areas, where the rates are often similar. Avoid withdrawing Turkish money at hotels or airports, as the rates are less favorable there.
When withdrawing money in Türkiye, you must pay attention:
- To the fees charged by your French bank before leaving, and additional charges applied,
- To dynamic currency conversion, which allows you to withdraw money and pay in euro or dollars (rather than in Turkish currency). With this option, the ATM applies an exchange rate different from that of your bank, which will usually be very poor.
You can also withdraw money at Western Union locations in major Turkish cities and enjoy the best exchange rate.
Remember to change your Turkish money into euro before leaving the country, as it will be very difficult for you to do so once you return to France.
FAQs
What is the Turkish lira exchange rate?
The Turkish lira exchange rate is approximately:
- 1 euro = 35.02 lira,
- 1 lira = 0.03 euro
Easily convert EUR to TRY with Western Union, whatever the amount.
How can I send money to Türkiye?
With Western Union, easily send money to Türkiye from France:
- Online in a few clicks via our website,
- With our mobile app,
- In person, by going to an agent location.
Your receiver can get the money in cash, in their account (via their Turkish IBAN) or in their mobile wallet.
