Turkey Currency & Money Guide

Turkey's currency is the Turkish Lira (code: TRY, symbol: ₺). It experienced significant depreciation in the early 2020s, making Turkey unusually affordable for foreign visitors — but also meaning exchange rates fluctuate more than in stable currencies.

Banknotes

₺5, ₺10, ₺20, ₺50, ₺100, ₺200

Coins

1 kuruş, 5 kuruş, 10 kuruş, 25 kuruş, 50 kuruş, ₺1 (100 kuruş = 1 lira)

Check today's rate: Use xe.com or Google "1 USD to TRY" for the live exchange rate before traveling. We don't quote fixed rates here because they change daily.

Pro tip: Withdraw ₺500-1000 at airport ATM (much better than exchange), then get serious cash at a city ATM or bazaar.

• Use bank-owned ATMs (Garanti, İşbank, Ziraat, Akbank, Yapı Kredi) — not standalone "cash machines" which charge 3-5% surcharge
• Select "English" from menu (available on all major bank ATMs)
• Choose "NO" if asked whether to convert to your home currency (Dynamic Currency Conversion is a ripoff — always 3-7% worse rate)
• Max withdrawal is typically ₺2000-₺5000 per transaction (varies by bank)
• Check with your home bank about foreign transaction fees before you go

Best travel cards: Wise (formerly TransferWise), Revolut, Charles Schwab (no foreign fees). These save 2-5% vs typical bank cards.

Use CARDS at:

• Hotels (all but budget ones)
• Mid-range and fine-dining restaurants
• Major shopping (Istanbul's designer boutiques, malls)
• Supermarket chains (Migros, Carrefour)
• Licensed taxis (use BiTaksi app)

Use CASH at:

• Small local restaurants & street food (döner, kumpir)
• Tea houses & tea gardens
• Grand Bazaar & Spice Bazaar (bargaining favored with cash)
• Public transport — load Istanbulkart with cash at kiosks
• Tips
• Small shops in tourist areas

Visa and Mastercard are nearly universal. American Express is accepted at hotels and upmarket restaurants but rejected at smaller places. Discover is rarely accepted.

Tipping is appreciated but not as mandatory as in the US. Guidelines:

Tips are generally given in cash, even if you paid by card. Large bills are fine — shops and cafes can usually break them.

In the Grand Bazaar, Spice Bazaar, and other tourist markets, bargaining is expected — but there's an etiquette to it:

• Show interest but don't seem desperate — the initial price is often 2-3x the target
• Counter at 30-40% of asking — meet somewhere around 50-60% of the initial price
• Walk away — if they let you go, you had the real price; if they chase after you, keep negotiating
• Cash beats card — sellers often give a 5-10% cash discount (they avoid card fees)
• Smile and be polite — bargaining is a conversation, not a battle. Enjoy the tea they offer.
• Don't bargain what you won't buy — it's rude to negotiate hard and walk away just to practice

In fixed-price shops (modern stores, malls, supermarkets) — no bargaining.