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Can You Use Euros in Turkey?

Can You Use Euros in Turkey?

Can You Use Euros in Turkey?

When tourists worldwide travel to Turkey, they are wondering if they can use common global currencies such as dollars or euros there. So, can you use euros in Turkey?

Turkey’s currency is the lira (Turkish Lira, TL/TRY, ₺). If you purchase Turkish currency at the airport or your hotel, you’ll probably receive significantly less for your currency since these places have lower exchange rates. Even if you run out of lira, many stores, restaurants, and other establishments in tourist locations will take euros or dollars. However, it’s usually a good idea to have local cash on hand.

In tourist destinations of Turkey, the euro is frequently accepted as a form of payment. However, the rate you will be offered will almost certainly be far lower than the real value of the euro, implying that paying in euros in Turkey will cost you a lot of money. Always pay in Turkish lira, which is the national currency.

The Advantages of Using Euros For Holidays in Turkey

For travellers earning dollars or euros, a holiday in Turkey may provide considerable benefits: owing to Turkey’s economic circumstances, a visit to Turkey can provide a low-cost vacation. Turkey, known for its blue waters, rich cultural legacy, and gastronomic culture, is now appealing to travellers’ wallets.

Visitors from countries that utilise dollars, euros, or British pounds will have a substantial edge! Even premium hotel prices will seem reasonable to individuals earning dollars, euros, or British pounds.

Due to the recent strengthening of the dollar and euro versus the Turkish lira, staying at the top Turkish hotels is feasible for a reasonable price. In 2012, one US dollar was worth TL 1.8; now, one US dollar is worth TL 12. Travellers used to pay around 500 units on a dollar basis for a hotel that cost TL 1000 per night. That identical tariff now costs almost 100-150 units! The euro is in the same boat.

The Guide to Using Money in Turkey

The majority of visitors to Turkey want to know about the currency immediately. After all, it’s what makes the world go round, and whether you have a budget or not, understanding the currency, conversion rates, taxes, and levies can help you spend sensibly. So let’s get started by going over some important facts regarding money in Turkey.

What is the Currency of Turkey?

Although some sites still use the old acronym of TL, and banks and credit card firms may use TRY, the currency is the Turkish lira, which is recognisable by the sign. The new Turkish lira replaced the previous currency, which made everyone a billionaire by default. Keep in mind that some elderly Turks still refer to millions of Turkish lira as a matter of habit.

Turkish lira banknotes are available in six different denominations: 200, 100, 50, 20, 10, and 5. Each has its colour. However, be aware that the 5 lira and the 50 lira are quite similar. Kurus coins come in denominations of 5, 10, 25, and 50 cents. It then advances to the 1 lira, which is a coin.

Related Article: The Local Currency in Turkey.

Best Place to Exchange Money in Turkey

The currency rate changes every day, but foreigners are now receiving a terrific bargain. Use real-time currency rate converters,  which displays real-time conversion rates. Avoid exchanging money at your home country’s airport since the commission charges are high, and you will get even less than if you exchange money in Turkey.

So, when you arrive, you have three choices. It’s done by banks, currency exchange businesses, and, on rare occasions, jewellery stores or travel agencies. You’ll need to provide identification, typically your passport, for the first two, but you’ll get a better deal.

It depends on how much money you’re exchanging if it’s worth your time to utilise them instead of the local jewellery store or travel agency, which are faster, more convenient, and open every day.

Can I use Euros, Dollars, or British Pounds in Turkey?

Most currencies are accepted by tourist stores, restaurants, and travel agencies. Rates in the Antalya area, which is popular with Europeans, are often shown in euros, whilst prices in the Aegean are occasionally displayed in pounds because it is popular with Brits.

In Istanbul, tourist attractions seem to accept any cash as long as it is valuable. If the bill is in lira, be aware that these places will frequently utilise their currency rate.

Using Your Card in Turkey

You’ll have minimal trouble using your credit or debit card at stores, restaurants, hotels, nightlife venues, and major tourist sites in famous destinations like Istanbul, Marmaris, Antalya, and Bodrum. Many of these businesses will have cash machines with swipe and PINs, but keep in mind that you may be charged a price to use your card.

Withdrawing Cash in Turkey

In Turkey, a cash machine, often known as an ATM, is a quick method to withdraw liras when you’re in a hurry. There will be a fee for each withdrawal, but it should not be more than a tiny proportion of the transaction. When withdrawing money from a cash machine, be cautious since fraud is frequent. Don’t let anybody see your PIN, and make sure the keypad isn’t detachable.

Cash machines may not be readily accessible in more isolated regions, such as the interior, so always pack extra cash in case of an emergency. You may visit a bank or a travel agency to convert pounds, dollars, euros for Turkish cash, but remember to have your passport with you.

Related Article: The Best Place to Buy Turkish Lira in Turkey.

Transferring Money in and out of Turkey

A specialised FOREX (foreign currency) transfer firm is one of the fastest-growing methods to move money into and out of Turkey. These organisations can transfer cash between bank accounts for you at a significantly lesser cost than using your bank, which is a costly choice.

The biggest benefit is that instead of getting charged 5% or more to transfer your money, you will normally just be charged 2% or less. That 3% or more is a significant amount of Turkish lira in your bank account.

It is easier to find the finest firm to send money to Turkey if they have an office in the nation from where you are transferring money. Most businesses have a presence in the United Kingdom or other parts of Europe because of the relatively friendly regulatory environment (and because London is Europe’s financial capital). Still, the options quickly narrow when moving money from other parts of the world, such as the United States, Australia, or other parts of Europe.

If in doubt, consider a respected corporation with a physical presence in a nation such as the United Kingdom, the United States, or Australia, where they will be regulated.

Related Article: The Best Way to Exchange Currency in Turkey.

Other Handy Money Tips For Your Holiday to Turkey

It’s advised to avoid using traveller’s checks in Turkey since they are seldom accepted and are no longer essential owing to the widespread availability of cash machines. If you believe you’ll need to withdraw money often during your vacation to Turkey, make bigger withdrawals and fewer visits to the cash machine to save money on currency conversion costs.

Don’t forget to tell your bank that you’ll be travelling to Turkey before you go. Banks may sometimes restrict transactions if they suspect fraudulent behaviour, particularly if you use your card often.


References

  1. Turkey Currency & Travel Money | Turkish lira. Thomas Cook. Retrieved November 26, 2021, from: <https://www.thomascook.com/holidays/turkey/travel-money>
  2. Visiting Turkey with Dollars or Euros: Best Currency to Take to Turkey. Flypgs.Com. Retrieved November 26, 2021, from: <https://www.flypgs.com/en/travel-guide/visiting-turkey-with-dollars-or-euros>
  3. Nomad, S. (2021, March 20). Currency in Turkey – info about the Turkish lira. Swedish Nomad. Retrieved November 26, 2021, from: <https://www.swedishnomad.com/currency-turkey/>
  4. The Guide to Using Money in Turkey. (2016, September 16). Turkish Travel Blog. Retrieved November 26, 2021, from: <https://turkishtravelblog.com/using-money-in-turkey/>