What is the currency in Turkey?

Exploring the Turkish Lira: The Official Currency of Turkey

When traveling to any country, it’s essential to understand the local currency to make informed decisions during your stay. If you’re planning a trip to Turkey, you may wonder what currency is used in this historically rich and culturally diverse nation. In this blog post, we will explore the Turkish Lira, the official currency of Turkey, its history, banknotes, coins, and some useful tips for exchanging money during your visit. Experience Turkey’s rich culture and history with the diverse Turkey tour packages provided by One Nation Travel.

A Brief History of the Turkish Lira

The official currency of Turkey is the Turkish Lira (TRY), with the currency symbol ₺. The history of the Lira can be traced back to the Ottoman Empire, where it was first introduced in 1844. Following the establishment of the Republic of Turkey in 1923, the country continued to use the Lira as its official currency. Over the years, Turkey has undergone several currency reforms and devaluations, with the most recent being the introduction of the New Turkish Lira (YTL) in 2005. In 2009, the “New” was dropped, and it reverted to the Turkish Lira (TRY).

Banknotes and Coins

The Central Bank of the Republic of Turkey (TCMB) is responsible for issuing and regulating the country’s currency. Turkish Lira banknotes come in denominations of 5, 10, 20, 50, 100, and 200 Lira. The banknotes feature images of significant Turkish historical figures and cultural landmarks on both sides.

Coins, known as “kurus,” are available in denominations of 1, 5, 10, 25, and 50 kurus, with 100 kurus equaling one Lira. The 1 Lira coin also exists and is commonly used. The coins feature various national symbols and images that represent the country’s rich heritage.

Currency Exchange Tips

1. Plan ahead: Before traveling to Turkey, check the current exchange rates to get a general idea of the value of the Turkish Lira against your home currency. This will help you make informed decisions when exchanging money or making purchases.
2. Use reputable exchange offices: While you can exchange currency at airports, hotels, and banks, it’s best to use a reputable exchange office for the most competitive rates. Avoid street vendors or unauthorized exchange bureaus.
3. ATM withdrawals: ATMs are widely available in Turkey, and they often offer better exchange rates than exchange offices. However, be aware of any fees your bank may charge for international transactions.
4. Credit cards: Major credit cards like Visa, Mastercard, and American Express are widely accepted in Turkey, particularly in larger cities and tourist areas. However, always carry some cash for smaller establishments or rural areas that may not accept credit cards.
5. Keep the small change: Carry small denominations of Lira, particularly coins, to pay for small purchases or tips. This will help you avoid the hassle of finding change or paying more than necessary.

Top Experiences & Tours in Turkey

1. 4 Days Cappadocia, Pamukkale, and Antalya Tour from Istanbul: Explore the stunning landscapes of Cappadocia, the natural wonders of Pamukkale, and the beautiful coastal city of Antalya. This 4-day tour is perfect for those wanting to experience some of Turkey’s most iconic destinations. See Full Itinerary and Book
2. 5-Day Pamukkale, Ephesus, and Cappadocia Tour from Istanbul: Visit the ancient ruins of Ephesus, the unique travertines of Pamukkale, and the fairy-tale landscapes of Cappadocia on this immersive 5-day tour from Istanbul. See Full Itinerary and Book
3. 5 Days Konya, Cappadocia, Ephesus, and Pamukkale Tour from Istanbul: Experience the spiritual heart of Konya, the ancient sites of Ephesus, the otherworldly beauty of Cappadocia, and the thermal pools of Pamukkale in this comprehensive 5-day journey. See Full Itinerary and Book
4. 6-Day Istanbul, Pamukkale, Ephesus, and Cappadocia Tour: Combine the best of Istanbul with the historical and natural highlights of Pamukkale, Ephesus, and Cappadocia in this well-rounded 6-day tour. See Full Itinerary and Book
5. 7 Days Istanbul, Cappadocia, Pamukkale, and Ephesus Tour: Discover the diverse beauty of Turkey in a 7-day tour, from the bustling streets of Istanbul to the stunning landscapes of Cappadocia, the ancient ruins of Ephesus, and the thermal springs of Pamukkale. See Full Itinerary and Book
6. 8-Day Istanbul, Pamukkale, Ephesus, and Cappadocia Tour: Take an 8-day adventure through Turkey’s most iconic destinations, including the cultural capital of Istanbul, the ancient city of Ephesus, the natural wonders of Pamukkale, and the unique landscapes of Cappadocia. See Full Itinerary and Book
7. 9-Day Istanbul, Cappadocia, Antalya, Pamukkale, and Ephesus Tour: Experience the best of Turkey with a 9-day tour covering Istanbul, the fairy chimneys of Cappadocia, the beaches of Antalya, the travertines of Pamukkale, and the historic city of Ephesus. See Full Itinerary and Book
8. 10 Days Istanbul, Ephesus, Pamukkale, Antalya, and Cappadocia Tour: This 10-day tour offers an in-depth exploration of Turkey’s top attractions, from the vibrant city of Istanbul to the historical sites of Ephesus, the thermal springs of Pamukkale, and the stunning coastal and desert landscapes of Antalya and Cappadocia. See Full Itinerary and Book
9. 11-Day Istanbul, Cappadocia, Antalya, Pamukkale, Ephesus, Troy, and Gallipoli Tour: Embark on an 11-day journey through Turkey’s rich history and breathtaking landscapes, including the ancient cities of Troy and Ephesus, the battlefields of Gallipoli, and the unique terrains of Cappadocia and Pamukkale. See Full Itinerary and Book
10. 12-Day Istanbul, Konya, Cappadocia, Antalya, Pamukkale, and Ephesus Tour: Dive deep into Turkey’s cultural and natural wonders with a 12-day tour that includes the spiritual city of Konya, the captivating landscapes of Cappadocia, and the historic sites of Ephesus, Antalya, and Pamukkale. See Full Itinerary and Book
11. 13 Days Istanbul, Gallipoli, Troy, Pergamon, Ephesus, Pamukkale, Antalya, and Cappadocia Tour: Discover Turkey’s most significant historical and natural sites over 13 days, including the battlefields of Gallipoli, the ancient ruins of Troy and Pergamon, and the stunning landscapes of Cappadocia, Pamukkale, and Antalya. See Full Itinerary and Book

Conclusion

The Turkish Lira is the official currency of Turkey, with a rich history that dates back to the Ottoman Empire. When visiting the country, make sure to familiarize yourself with the banknotes and coins, and follow the currency exchange tips provided to ensure a smooth and enjoyable trip. By understanding the local currency, you’ll be better prepared to explore Turkey’s beautiful landscapes, historical sites, and vibrant culture.