If you’re visiting Istanbul and Turkey, understanding how to use the Turkish Lira (TRY) efficiently can make a big difference in your travel experience. The mix of cash-dependent markets and card-friendly tourist spots can create confusion, while high exchange rates and hidden fees can quickly add up. This guide will show you through the best ways to manage Turkish Lira, how to use, so you can focus on enjoying your trip without financial stress.
Key Insights
- Use cash in small markets and local services, but cards are widely accepted in major tourist areas and hotels.
- Avoid high fees by using ATMs from banks, and consider global travel cards for better rates.
- Exchange currency at city centers, not airports, for better rates. Döviz (currency exchange) offices and ATMs offer convenient options.
- Carry about 1.000-3.000 TRY in cash daily for small expenses like transport, tips, and local shopping.
- Bargain at bazaars and tip 10-15% at restaurants or for services like taxis.
How should tourists use Turkish Lira in Istanbul?
Tourists in Istanbul should primarily use Turkish Lira (TRY) for local transactions, especially in markets, small shops, and public transportation. While credit and debit cards are widely accepted in urban areas and tourist spots, cash is essential for smaller purchases and in rural areas. Avoid exchanging currency at airports due to unfavorable rates; instead, use döviz (currency exchange offices) or ATMs in city centers for better rates.
Some Practical Information
The Turkish Lira is the official currency of Turkey, denoted by the symbol ₺ and abbreviated as TRY.
Banknotes are available in denominations of 5, 10, 20, 50, 100, and 200 liras, while coins come in 1, 5, 10, 25, and 50 Kuruş (Kr) (pronounced as “koo-roosh”), subunits of the lira, and a 1, 5 lira coin.
Why this matters for tourists: You should familiarize yourself with the currency. Because you may encounter both high-value notes for larger purchases and smaller coins for street food or public transport.
Knowing the denominations helps you avoid mistakes at markets and small shops where vendors may not give you change for larger bills.
Turkish Lira Demonstrations
Banknotes come in 5, 10, 20, 50, 100 and 200 (rare) TRY.
Coins come in 5, 1 (very rare), 5, 10, 25, 50 Kr and 1 TRY.
Inflation and Price Fluctuations
Due to inflation, the exchange rate of the Turkish Lira can fluctuate significantly, impacting the cost of daily goods. Monitor the exchange rate during your trip to avoid sudden price changes. Some tourist spots may offer prices in foreign currencies, but paying in lira is generally more economical.
Where to Exchange Currency
You can obtain currency exchange before traveling to Istanbul or on arrival. We recommend you to avoid exchanging large sums of money at airports, as they often have poor exchange rates.
Instead, use currency exchange offices (döviz bürosu) located in city centers or tourist areas. Banks and ATMs also provide reasonable rates, though foreign transaction fees may apply.
You can also find numerous exchange offices in Istanbul. Most of them are located on the streets of the popular tourist zones and districts, as well as inside banks, travel agents, Post Offices and Istanbul’s airports.
No Regrets Booking Advice
Best places to exchange money:
- Döviz Bürosu (Currency Exchange Offices): Conveniently located in tourist areas but check rates to ensure you’re not overpaying.
- ATMs: Widely available across Istanbul and major cities. Look for ATMs linked to international banks, which often charge lower fees.
Tip: Always check the daily exchange rate before exchanging cash. You can use reliable currency converter apps to get real-time rates.
Tips for Exchanging Money Safely
To avoid getting scammed or overcharged, always use reputable exchange offices or ATMs. Avoid street vendors or individuals offering to exchange money as rates can be inflated, and you could be given counterfeit notes.
Best practices:
- Check rates online before exchanging money.
- Use licensed döviz bürosu or banks.
- Keep receipts for any currency exchanges in case you need to return or exchange funds again.
What should I do if I detect a counterfeit banknote?
When you suspect that a banknote is counterfeit, than we recommend you;
- Check the security features on the banknote,
- Compare it with a genuine banknote,
- Avoid damaging it with writing, drawing, piercing or tearing,
- Take it to the nearest Office of Chief Public Prosecutor or law enforcement officers and inform them where and whom the banknote came from.
- To report a counterfeit banknote, you can call the 155 Police Emergency line or 156 Gendarmerie Hotline. Note that any report of counterfeiting may be crucial to revealing a suspect or a counterfeiting ring.
When to Use Cash vs. Cards
In Turkey, both cash and cards are widely accepted, but knowing when to use each can save you money. Cash is preferred in markets, small shops, and when using dolmuş (shared taxis) or other local services.
In contrast, credit and debit cards are commonly accepted in restaurants, hotels, and malls, especially in cities like Istanbul.
When to use cash:
- Small markets, local shops, and street vendors.
- Tipping at cafes, restaurants, and taxis.
- Transportation in rural areas or for rides like dolmuş.
When to use cards:
- Hotels, restaurants, and larger stores in urban areas.
- Booking tours or experiences online.
- High-value purchases (you can avoid carrying large amounts of cash).
We also recommend you take cash TRY as you may need to tip on your way to your hotel, at the restaurants, cafes and bars. Also some establishments such as local shops, boutiques offer good discounts when you pay in cash as they won’t want to pay a percentage to the credit card company.
So, especially to take the advantage of good discounts on shopping, we recommend you to carry cash TRY. And we recommend you to carry small notes such as 5,10,20, 50 TRY.
Credit cards and contactless payments
Credit and debit (bank) cards such as Visa and Mastercard are widely accepted in Istanbul’s restaurants, bars, cafes, markets and shops.
Contactless cards are also widely used in Istanbul and Turkey and many businesses accept them as payment, up to a small limit per transaction for security reasons.
In addition, the contactless payments may still incur an overseas transaction fee and these vary by card and by bank, so you should check with your card issuer before tapping your contactless card.
Using Turkish Lira in Tourist Areas
In tourist-heavy areas like Sultanahmet or Taksim, some shops and restaurants may quote prices in USD or EUR, but paying in Turkish Lira is often cheaper. Even if they accept foreign currency, it’s usually at a less favorable rate. Always ask to pay in TRY and avoid potential losses on conversion.
Cash machines – ATMs
In Istanbul, you can easily find numerous cash machines, cashpoints or ATMs, located separately on the streets of the tourist zones, banks, some corner shops, shopping centers and supermarkets.
Most of them accept international cards with the Visa, Plus, Mastercard, Cirrus or Maestro symbols. You should check before using them as they will almost certainly charge a free when you withdraw cash. Many cash machines also provide the facility to top up your mobile phone credit.
How to Avoid ATM and Card Fees
Using ATMs in Turkey is convenient, but fees can quickly add up if you’re not careful. Many ATMs charge withdrawal fees, especially if you’re using a foreign card. To avoid these charges, look for partner ATMs linked to your home bank or choose those known for lower fees.
Additionally, you can opt for travel cards, which typically offer lower or no foreign transaction fees.
Tips to avoid fees:
- Use fee-free ATMs.
- Withdraw larger amounts less frequently to minimize transaction fees.
- Use global travel cards for better exchange rates and low or no fees.
How Much Cash to Carry
How much cash to carry depends on your travel plans. In big cities like Istanbul, you can use cards for most transactions, but it’s smart to carry some cash for smaller purchases, tips, and public transportation. For a day’s exploration, 1.000-3.000 TRY should be sufficient for snacks, small souvenirs, and local transport.
Key advice:
- Carry around 1.000-3.000 TRY for day-to-day expenses.
- If you’re visiting smaller towns or rural areas, bring more cash as cards may not be widely accepted.
- Keep your cash in a secure money belt or wallet.
Bargaining and Tipping in Turkey
In Turkey, bargaining is expected in places like the Grand Bazaar and smaller markets. Start by offering about 50% of the asking price and negotiate from there. As for tipping, it’s customary to leave 10-15% in restaurants, but smaller tips are acceptable for taxis and porters.
Bargaining tips:
- Be polite but firm.
- Start with a low offer and meet somewhere in the middle.
- Don’t feel pressured to buy—walk away if the price isn’t right.
FAQs
What is the official currency of Turkey?
The official currency of Turkey is the Turkish Lira (TRY). Banknotes come in denominations of 5, 10, 20, 50, 100, and 200 liras, while coins are available in 1, 5, 10, 25, 50 kuruş, and 1 lira. Tourists should use Turkish Lira for local transactions, especially in markets and smaller shops.
Where can I exchange currency in Istanbul?
You can exchange currency at döviz (currency exchange offices), banks, or ATMs located throughout Istanbul. Avoid airport exchanges due to lower rates, and opt for exchanges in city centers for better deals. Always check the exchange rate before converting your money to get the best value.
How widely are credit and debit cards accepted in Istanbul?
Credit and debit cards are widely accepted in Istanbul, especially in hotels, restaurants, and larger stores. However, it’s recommended to carry cash for smaller businesses, local markets, and public transportation. Notify your bank before traveling to avoid blocked transactions.
Why should I carry cash in Turkey?
Cash is essential in Turkey for small transactions, such as street food, tips, and local transport. Many small vendors, markets, and rural areas only accept cash, making it important to have Turkish Lira on hand, especially when visiting outside major cities like Istanbul.
What is the best way to pay in tourist areas in Istanbul?
In tourist-heavy areas like Sultanahmet and Taksim, some shops accept foreign currencies such as USD or EUR, but paying in Turkish Lira is usually more economical. Always ask for prices in Turkish Lira to avoid unfavorable exchange rates when paying in other currencies.
What are the tipping customs in Turkey?
Tipping is customary in Turkey, especially in restaurants, cafes, and for taxi services. The standard tip is around 10-15% of the total bill. In upscale establishments, a service charge may be included, and additional tipping is not necessary unless the service was exceptional.
How can I get tax-free shopping in Turkey?
Tax-free shopping is available for tourists from outside the EU. To claim a VAT refund, make purchases at stores offering Tax-Free Shopping, request a form at the time of purchase, and present it along with your receipts at the airport’s customs office before leaving Turkey.