Even though the Lira is the official currency of Turkey, tourists may be able to use Euros in certain places and instances. The answer cannot be a straightforward yes, so let’s talk about what a tourist needs to know about using Euros in Turkey.
What Instances Can I Use Euros In Turkey?
You might be able to pay for your hotel reservation or for things at the airport in Euros; certain fancy shopping malls may also accept Euros.
But there’s a disadvantage to using Euros in Turkey; when quoting prices in Euros, vendors will almost always quote a higher price, and you’ll end up forking out more than you have to.
To shop at Turkish street markets, you need to have the savvy of bargaining, but it’s difficult to bargain over values offered in Euros. So, our advice to you is to use the official currency, the Lira, for everything.
Official Currency Of Turkey
The official currency of Turkey is the Lira – this is also the official currency in Northern Cyprus.
As of now, the Turkish currency has two types of coins: Lira coins and Kurus coins. Kurus coins come in values of 1, 5, 10, 25, and 50.
One hundred Kurus are equivalent to the value of a Lira coin.
As for Lira banknotes, there are six denominations: 5, 10, 20, 50, 100, and 200.
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Exchanging Money In Turkey
It’s best to exchange your money in Turkey rather than in your home country; you’ll always get a better exchange rate in Turkey than what’s offered outside Turkey.
Therefore the best way to get Turkish currency is to use an ATM. You can also go to a currency exchange office or a bank; you may need to show your passport before obtaining money.
Exchanging money at airports isn’t the smart thing to do; you’ll aren’t likely to get a good exchange rate.
Can I Use Euros In Istanbul?
Some tourist places in Istanbul accept Euros, but it doesn’t benefit you in any way; you’ll end up paying more than you should. It’s the same with airport shops; you can use Euros, but you’ll get the worse possible exchange rate.
However, there are many currency exchange centres in Istanbul, so don’t worry; you can easily exchange your money for Lira.
Using Traveller’s Cheques And Credit Cards In Turkey
Try not to bring traveller’s cheques with you. They are considered old-fashioned, and not many places accept them. You can, however, use credit cards.
Needless to say, you cannot use credit cards at street markets, but they are accepted at almost every other place.
Inform your bank that you’ll be using your credit card in Turkey; there may be additional charges. Also, some vendors charge a commission on top of the purchase value if you pay with a credit card.
Availability Of PayPal In Turkey
Unfortunately, PayPal isn’t an option in Turkey. PayPal ceased its operations in Turkey in 2016 due to various regulatory complications, but there are alternatives.
Wise is one of the PayPal alternatives to transferring money to and from Turkey; this is a quick and easy way, and it’s cheap too.
Good To Know
- The Turkish Lira is the best currency to use in Turkey, so get your money exchanged at a bank or a currency exchange centre, or use an ATM; the easiest and the best way
- It’s always far better to get your money exchanged inside Turkey rather than outside Turkey.
- Visa and Mastercard are accepted almost everywhere, but American Express cardholders may run into issues, so withdraw money from an ATM and use cash whenever possible
- Don’t rely on one method of payment – have both your bankcards and cash ready
- Ditch the traveller’s cheques; they won’t be of any use to you in Turkey
- Exchange rates on Visa, Mastercard and American Express are usually better than what you get at banks and currency conversion centres
- Don’t accept the first price offered; haggling is expected when shopping at small shops and street markets
Budget For Your Vacation In Turkey
Turkey isn’t an expensive destination; you can get through your holiday without spending too much money.
- A budget traveller may need about USD 20 – 30 per day.
- For a mid-range traveller, USD 50 – 80 per day would be enough.
- If you need luxury, expect to spend upwards of USD 150 per day.
Always keep some emergency money with you; also, consider getting travel insurance.
Frequently Asked Questions
What’s The Best Currency To Use In Turkey?
The Turkish Lira is undoubtedly the best currency to use in Turkey.
Can You Spend British Pounds In Turkey?
You might be able to use British Pounds at airports and in major tourist areas. But the exchange rate will be determined by the vendors, and as such, you are in for a rip-off.
Does Turkey Use The US Dollar?
Just like with Euros, airport shops and vendors operating in major tourist areas may accept US dollars in Turkey, but it’s best to use the local currency.