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Exchange Money in Turkey- Kalkan Villas Guide
26 February 2024
Kalkan Villas

Exchange Money in Turkey- Kalkan Villas Guide

Turkey is a beautiful country to visit for various reasons, including stunning scenery, rich history, beautiful architecture, friendly locals, and some of the best shopping in Europe. Getting used to "foreign money" and the best way to exchange it can be perplexing in any country. Turkey is no exception; all visitors have questions about how to exchange money in Turkey. Although we live in a technologically advanced world where making payments can be simple, the term “cash is king” can still apply to many situations, particularly abroad. Whether you're going to haggle for traditional wares in the markets, visit a fish shack off the coastline or take a trip in a hot air balloon, you'll need some cash. Once you get it, it will be up to you to determine how to use your Turkish lira, but this article will offer you a guide on how to exchange money in Turkey and use foreign currency in Turkey.

Turkish Currency Overview

Characteristics of the Turkish Lira (TRY)

  • Lira Symbols: TRY, TL, ₺
  • 1 TRY: Each lira is divided into 100 kuruş.
  • TRY coins: The coins you find in circulation are 5, 10, 25, 50 kuruş, and 1 lira. There are also smaller one kuruş coins, but they aren’t used. If a store doesn’t have enough small coins to give you all your change, you might be offered a few sweets to make up the difference.
  • TRY banknotes: Banknotes are issued in denominations of 5, 10, 20, 50, 100 and 200 lira. The notes and the coins have images of Mustafa Kemal Atatürk on them.

If you are planning to exchange money in Turkey, the daily currency rates provided by the Turkish Republic Central Bank are available here.

Is it better to Exchange Money in Turkey?

In short, the answer is yes. You'll get more for your money if you purchase your lira in Turkey, as long as you stay away from exchange providers at airports or big brand hotels that charge hefty fees. If you're concerned about arriving without cash, exchange a modest amount at home and look for the best offers to exchange money in Turkey once you arrive. Don't exchange your currency at banks in Turkey because, despite expectations, they have the lowest possible rates and high fees. You head to a Turkish bank with your passport, take a ticket, and wait for ages to be seen. When you finally get your currency, you realise it is nowhere near the mid-market rate.

Instead, opt to visit a ‘Doviz Burosu’ (exchange office) as the best way to exchange money in Turkey. These can be found in most cities and tourist hotspots. Bring your passport, and remember that these conversion rates fluctuate based on the market and that the exchange office will make money by either taking a tiny commission or offering a rate somewhat below the market rate. Generally speaking, a company's rate is lower than other companies if it advertises 0% commission on Turkish lira money. This is merely a marketing ploy.

Tip: Be sure any banknotes you bring to Turkey to exchange are in good condition. Torn and marked notes are generally not accepted.

What is the best Currency to use in Turkey?

The official currency of Turkey is the Turkish lira, the only universally accepted currency. However, as Turkey is a hotspot for tourism, many places are happy to accept payment in major currencies such as Euros, Dollars, and Sterling. If you pay in another currency, be mindful that you may get a better deal than you would by paying in Turkish lira. Always calculate quickly to ensure you are happy with the vendor’s rate for foreign currency payments.

Using Cards and ATMs in Turkey

Visa and Mastercard are widely accepted throughout Turkey, making it simpler to make cash withdrawals. Remember to inform your card company that you will be travelling abroad before you depart so they will refrain from flagging any unusual behaviour on your account. Even if you prefer to use a credit card to pay for goods and services, have some Turkish Lira on hand for little purchases and locations that don't accept credit cards, such as Turkish buses in your area.

In Turkey, ATMs are everywhere, including markets, tourist attractions, cities, airports, commercial locations, and even the smallest villages. In addition to the Turkish Lira, certain ATMs also issue Euros and Dollars. However, they do so with a service charge. You can select Turkish or English as your preferred language when making the withdrawal, and depending on which area of Turkey you are visiting, you may also get the option for French, German, or Spanish.

Where is the Best Place to Exchange Money in Turkey?

Doviz Burosu

Find these exchange bureaus in most cities, towns and tourist destinations by keeping an eye out for prominent signs that provide the current exchange rates for major currencies, including dollars, euros, and sterling.

Post Office (PTT)

Most post offices will exchange US dollars or Euros cash, and the bigger post office branches may also exchange other major currencies such as UK sterling (but no Scottish notes!)

Where can I Exchange Money in Kalkan?

As Kalkan is a more remote location, not a city, numerous businesses are willing to exchange foreign currency. You have a wide range of options at your disposal. Many establishments are happy to exchange your Sterling or Euros for Liras as long as they remain a stable currency. Places that will exchange money in Kalkan are easy to identify because they advertise on billboards outside their doors. As you go through the town, keep an eye out for these and check the prices so you can choose the location that will bring in the most money that day. Commonly used businesses in Kalkan for changing money include the Post Office in the Old Town, two exchange bureaus, one in the Old Town close to the post office, and one on the high street next to the Gratis shop. Many jewellers are also frequently used to exchange money in Kalkan.

Now you know where you can exchange money in Turkey and Kalkan, contact us at Kalkan Villas to book your next unforgettable holiday on the Turquoise Coast.