Question: What currency is used in Turkey
Answer: The local currency used in Turkey is the Turkish Lira
If you are planning to travel to Turkey for your holiday or business trip then using the local Turkish currency Turkish Lira is always the best option. At present Turkey is not part of the European Union and therefore the Euro currency is the not the main local currency of Turkey. This also applies to Northern Cyprus which is part of the Turkish territory. In years gone by there have been talks about Turkey joining the European Union and the Euro currency, but at present this is still unchanged.
If you do have Euros with you whilst you are in Turkey then you will find that some places in tourist locations including Istanbul will accept Euros as payment, however, with anywhere else in the world the local currency always offers the best exchange rates and the same applies with the Turkish Lira exchange rates. This will ensure that you get the best value for whatever you are buying whether this is lunch out at a restaurant with the family or a purchase from a local tourist gift shop.
Turkey as a holiday destination has always been excellent value for money and in recent years the Turkish Lira was actually in the Guinness Book of World Records as being the least valuable currency in 1995 to 1996 and again from 1999 to 2004. Since then the Turkish Lira has been re-valued, however, when you compare GBP to Turkish Lira exchange rates you will find that you still get great currency comparisons and good value for your holiday money. The Turkish Lira comes in the following banknotes 5, 10, 20, 50, 100, 200 and the following coins 5KR, 10KR, 25KR, 50KR and 1 Turkish Lira coin.
Buying Turkish Lira in advance for your holiday is still one of the best ways to exchange your holiday money compared to airport exchange bureau’s and using your bank debit or credit card abroad. Making sure you have Turkish currency in advance for when you arrive will save time, hassle and money. Withdrawing foreign currency from cash machines is still quite expensive depending on what bank you are with and for information on the best debit card to use abroad or the best credit card to use abroad please see our related blog posts.
Using your debit or credit abroad several times can be costly in comparison to using local Turkish currency in Turkey. In most tourist locations in Turkey you will find cash machines, but please check with your bank or credit card provider before you travel to find out what their charges are as you will not only be charged a withdrawal fee but also most likely a poor GBP to Turkish Lira exchange rate.
Buying currency in advance will ensure that you have cash ready for small purchases and it will give you the option to find the best Turkish Lira currency exchange rate to ensure you get the most for your holiday money. If you would like to compare all the top UK currency suppliers for the Turkish Lira please use our currency comparison table to find the best deal for you. If you come back from Turkey with any left-over Turkish Lira currency you can use our currency buy back comparison service to find the best UK supplier to exchange your old money back to GBP.