The currency used in Turkey is the Turkish Lira (TL) or Türk Lirası in Turkish. Its international 3-digit code is TRY and the new Turkish Lira is available in the following denominations (banknotes) of 5, 10, 20, 50, 100, 200, and 1000 Turkish Lira. These new series of Turkish Lira banknotes (also known as the E-9 Emission Group) mostly depicts a famous Turkish personality instead of geographical sites which the previous banknotes appeared to have. Also, to prevent forgery the new Turkish Lira banknotes come in different sizes. Coins start from 1, 5, 10, 25, 50 kuruş (kr) and 1 TL. The Turkish Lira is also the currency used in the Turkish Republic of Northern Cyprus. Other major currencies used by travelers such as the Euro and US dollar can be exchanged into Turkish Lira upon arrival at the international and domestic airports in Turkey or before departure.
If you are planning to exchange your currency back from Turkish Lira to your original currency before leaving Turkey (or if you are making a major purchase which may need to be declared with the Bureau of Customs), it would be better if you will keep your transaction receipts in order to show that the currency has been legally exchanged in Turkey. Usually, cash can be exchanged without charging commission at the exchange offices, banks or hotels. Also, travelers from the United Kingdom should remember that Scottish banknotes are not accepted in Turkey.
Due to the high inflation rate, it is advisable to exchange money only according to need when a longer stay in the country is planned. Traveler’s checks and Euro checks can be cashed at all larger banks when check-card and identification cards are presented. Credit cards are accepted almost everywhere especially in most hotels, restaurants, and shopping malls. At the international airports and at the borders, the exchange offices are opened permanently. Istanbul's Atatürk International Airport for instance has a speedy currency exchange facilities. Most banks in the major towns and cities of Turkey such as Istanbul, Ankara, Bursa, Izmir, Antalya, etc. also have Automated Teller Machines (ATMs). In fact most of these cash point machines or ATMs are available in almost all areas in Turkey which accept major European credit cards and give instructions in English. It may be a good idea to inform your bank in advance that you are travelling to Turkey as some will automatically put a stop on cards after the first usage in an attempt to combat fraud.
