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Use this coverter to find the exchange rates for any amount in any currency
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Information about finance
and money in Turkey
exchange rates for the turkish lira and help with understanding the money and where to change money in Kas
More currencies to Turkisk Lira (TRY)
Sterling, Euros and Dollars can be easily changed into Turkish Lira at all banks, post offices ( PTT ) and change offices. In many towns you can also get a good exchange rate at Jewellery shops. Many shops exchange money at a favourable rate and most will accept sterling. If buying furniture, curtains and white goods etc it is often possible to pay in Euros or Sterling and get a very favourable price. Bartering with Sterling gives you a very strong advantage. Avoid exchanging money at hotels.
When shopping in Turkey you will still find people referring to "millions", instead of Lira, when discussing prices. The currency changed on 1st January 2005 and any old banknotes and coins ceased to be legal tender from 1st January 2006. If you are offered any banknotes with 6 zeros on them ( i.e. 1,000,000 million lira ) in your change, refuse them as they are old and no longer valid. There is often a shortage of small coins available in shops so don't be surprised to be given a sweet or two as change.
The majority of the banks have ATMs and there are a huge number of free-standing ones at strategic points. They operate in the same way as those throughout the USA and Europe. There is an option on most to choose the language and in some cases to choose Turkish Lira, US Dollars or Euros. Also do make sure that you advise your bank of your planned travel to Turkey. If not the bank may freeze your card after one or two transactions.
Information Panel – Money in Turkey
Source: Trip Advisor
This is to do with the history of the Turkish economy. Visitors and those of us who used to live here before 2005 were used to rapid inflation and everything costing more than a million. In 1966 the exchange rate for lira to US dollar was 9tl = $1, but by 2004 it had reached 1,350,000tl = $1. So for many years bread was hundreds of lira, clothes were millions and cars and houses billions! People got so used to this that they mentally ignored to
In 2005 the government simply knocked six zeros of the currency and the exchange rate became 1tl = $1.35 and they reintroduced the Kuruş (which disappeared from view in the 80s).
Although this has made life simpler (and more expensive!) those of us who were used to ignoring the million and billion part of prices still add them when talking about money.
