What Currency Does Turkey Use? A Complete Guide to Turkish Lira

The official currency of the Republic of Turkey is Turkish lira. The Turkish Lira is divided into subunits called kuruş. Read More. Do you need assistance creating your itinerary? Get in touch with us, and our local experts will help you unlock an incredible journey.

Turkey, a captivating country brimming with historical treasures, stunning landscapes, and vibrant culture, is a magnet for travelers worldwide. But before you embark on your Turkish adventure, it’s crucial to understand the local currency: the Turkish Lira (TRY).

This comprehensive guide will equip you with all the knowledge you need about the Turkish Lira, from its history and denominations to exchange rates and spending tips. So, let’s dive into the world of Turkish money!

Unveiling the Turkish Lira: A Journey Through History

The Turkish Lira, first introduced in 1844, boasts a rich history intertwined with the evolution of the Turkish Republic. Initially known as the “kuruş,” it replaced the Ottoman piastre and became the official currency of the Ottoman Empire.

In 2005, the Turkish Lira underwent a significant transformation with the introduction of the “New Turkish Lira,” replacing the old Lira at a rate of 1 million old Lira to 1 new Lira. This revaluation aimed to combat inflation and stabilize the currency.

Today the Turkish Lira exists in both banknotes and coins. Banknotes come in denominations of 5, 10, 20, 50 100, and 200 Lira, while coins are available in denominations of 1, 5, 10, 25, and 50 kuruş (1 Lira = 100 kuruş). Each banknote features the portrait of Mustafa Kemal Atatürk, the revered founder of modern Turkey.

Exchanging Your Currency: Making the Most of Your Lira

Getting your hands on Turkish Lira is a breeze. You can conveniently exchange your home currency at banks, exchange bureaus, airports, hotels, and even ATMs throughout Turkey. Remember, exchange rates fluctuate, so comparing rates before exchanging is always a wise move.

For the most favorable exchange rates consider pre-ordering your Turkish Lira online. Travelex, a leading currency exchange provider offers this convenient service, allowing you to collect your Lira at a designated store or receive it directly at your doorstep.

Alternatively, the Travelex Money Card provides a secure and flexible way to manage your holiday currency. Load the card with Turkish Lira and use it at ATMs or for contactless payments wherever Mastercard prepaid is accepted. If you happen to lose the card, you can easily freeze or cancel it, ensuring your funds remain safe.

Spending Your Lira: Navigating the Turkish Market

While exploring Turkey’s bustling markets and charming shops, you’ll find that most transactions require Turkish Lira. However, carrying a mix of cash and a card is often the most practical approach.

Cash comes in handy for smaller purchases at local markets, taxis, and buses. On the other hand, using a card is generally preferred for hotels and restaurants.

Interestingly, due to the Lira’s volatility, euros are often accepted in Turkey and may even be requested as the primary currency in some instances Therefore, carrying a combination of Lira and euros in both cash and the Travelex Money Card is a savvy strategy

The Travelex Money Card offers the flexibility to convert your pounds to Lira and euros effortlessly. Depending on the currency you use more frequently, you can conveniently top up your card with the desired currency while on the go.

And the best part? Any unspent funds can be converted back into pounds or other currencies for your next adventure or even into different currencies for your next trip!

Embracing Turkey’s Enchantments: Your Turkish Lira Awaits

Now that you’re armed with knowledge about the Turkish Lira, you’re ready to fully embrace the wonders of Turkey. From exploring ancient ruins to indulging in delectable cuisine, your Turkish adventure awaits.

Don’t forget to check out our comprehensive Turkey travel guide for more insights into this captivating country. It covers both the bustling cities and the serene holiday resorts, ensuring you have an unforgettable experience.

And for a deeper dive into currency exchange in Turkey, explore our dedicated resource page.

With Travelex, ordering your Turkish Lira is a simple and stress-free process. So, what are you waiting for? Get ready to experience the magic of Turkey with your Turkish Lira in hand!

Evaluation of Turkish Old Lira ” 3 stages “

Inspired? Start Planning Your Trip! Get in touch with our local experts for an unforgettable journey.

After World War II (WWII), in 1926, the official gazette released the official banknotes, which the Democratic Party later canceled. Until 1966, the Turkish Lira devalued to 9 Turkish lire = 1 U. S dollar. The sharp decrease in the value of the Turkish Lira persisted, eventually falling to one U.S. dollar. S. Before the 2005 revaluation, the value of the Turkish Lira was the lowest in the world, with one dollar being worth 2,650,000 Turkish Lira in 2001.

Turkish Lira and Money in Turkey

The New Turkish lira 2005 – 2008

Yeni Türk lirası, or the “New Turkish lira,” was the name of the newly declared currency, the second Turkish lira, which was divided into 100 new kuruş (Yeni kuruş). In 2009, the term “New” was dropped and the previously known New Turkish Lira was announced as the “Turkish lira,” abbreviated “TL,” dominating the banknote market and daily banking transactions. The banknotes got different sizes avoiding forgery. Coins were minted without the expression ‘Yeni’ in values of 1, 5, 10, 25, 50 kuruş.

The portrait of Mustafa Kemal Atatürk, the man who founded the modern Turkish Republic, is currently seen on the Turkish Lira banknote. During your Turkey travel package, you can easily exchange your local currency for the lira at Turkish local banks, international banks in Turkey, exchange offices at the airport, hotels, and ATMs scattered throughout the area for fast cash. Credit and debit cards, Visa, MasterCard, American Express and other payment options are accepted for cash withdrawal immediately. The exchange rate of Turkeys lira went through a long series of ups and downs. In 2019, the Turkey currency rates reached 1 TRY = 0. 17 USD and 1 TRY = 0. 16 EUR.

What money should you take to Turkey? Cash or Card


How much is $100 US in Turkey?

100 USD
3,227.45 TRY
500 USD
16,137.25 TRY
1,000 USD
32,274.51 TRY
5,000 USD
161,372.59 TRY

What is best currency to take to Turkey?

One thing to note is that due to the volatility of the Turkish Lira, euros is often accepted in Turkey and can even be requested as the main currency. It’s often a good idea to take a combination of Lira and euros in cash and currency on the Travelex Money Card.

Is the euro accepted in Turkey?

Euros may well be accepted by some stores, hotels and restaurants – although if you’re headed to the countryside, you’ll definitely need lira to pay your way. However, the rates won’t be great – and you’ll likely pay for the convenience.

How much is $1 lira in usd?

Conversion rates Turkish Lira / US Dollar
0.03084 USD
0.15421 USD
10 TRY
0.30842 USD
20 TRY
0.61684 USD

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