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Turkey (TRY) Turkish Lira
The Turkish Lira is the currency of Turkey and the de facto independent state of
the Turkish Republic of Northern Cyprus. The symbol representing it is ‘TL’ and
the ISO code is TRY. The lira is made up of a 100 kuruş. This currency recently
had six noughts removed to make it easier to use. Most things before this
re-valuation would cost many millions of lira, but now prices are in easier
single units.
Currently in circulation
As of 2009, the coins in circulation are in the denominations of 1, 5, 10, 25
and 50 kuruş and 1 lira. Banknotes include the denominations 5, 10, 20, 50, 100
and 200 lira.
Exchange facilities and traveller’s cheques
Sterling, US Dollars and Euros can easily be exchanged at banks, post offices
and money exchange offices. Jewellery shops in many of the towns and cities give
you a good exchange rate. It is also possible to pay in Sterling or Euros in
some of the stores. Do not exchange money at hotels. When changing traveller’s
cheques, compare the exchange rates because some of the exchange offices can
charge you up to a 9% transaction fee. Avoid taking traveller’s cheques as they
can be hard to cash even in the larger cities and sometimes banks may also
refuse to accept them.
Using credit/debit cards
It is better to withdraw cash from the ATM’s and better still from the machines
in the banks because they give you a better exchange rate. Debit cards are a
more feasible option as opposed to credit cards as the latter can incur an
additional fee apart from the normal charges. Credit cards are widely accepted
by hotels, bars, restaurants and shops but local restaurants outside tourist
areas will not take credit cards.
Turkey (TRY) Turkish Lira Restrictions
There is no restriction as to the amount of Turkish lira that you can take into
the country, but on leaving Turkey, an amount more than $5000 or an equivalent
must already have been declared to the customs on entry. Bringing in foreign
currency is not restricted either, provided it is declared at the customs on
arrival. For taking out foreign currency, the same rule prevails as for local
currency.
Turkey: An overview
Turkey is a country of intriguing history that dates back to the dawn of
civilisation. The land abounds in ruined castles, battlegrounds and palaces of
the greatest empires. The Ottoman cuisine is ranked as one of the most sumptuous
cuisines in the world. Although a Muslim country, Turkey is very modern and has
a touch of the west. It is also referred to as the west of the east.
The cost of living is considerably low, giving you good value for your money. A
meal at a café can cost you somewhere around lira 2.54/£1.50/$2.19/Є2.30 whereas
in a restaurant it would be about lira 8.48/£5.00/$7.30/Є7.77. A bottle of wine
will cost you approximately lira 8.48/£5.00/$8.00/Є7.00.
