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The new national
monetary
unit introduced in 2005 is New Turkish Lira (YTL)
and Yeni Turkish Kurus (YKR). One New Turkish Lira is equivalent to
a hundred New Kuruş. Turkish Lira was redenominated by dropping six
zeros. In 2005 both the new and the old
currencies the Turkish lira (TL) will be
used. In fact, this year is final
for using both currencies; also your last chance to enjoy being a
millionaire in a foreign country! While converting Turkish
Lira values into New Turkish Lira; one million Turkish Lira
(1,000,000 TL) is equal to one New Turkish Lira (1 YTL).
In other words, just drop 6 zeros from the old currency. That is;
20,000,000 Turkish Lira and 20 New Turkish Lira will have the same
purchasing power.
You may check further information about the official Turkish
currency on
this website:
http://www.tcmb.gov.tr/ytlkampanya/ The coinage is in
1, 5,
10, 25, 50 Yeni Kurus and
1 Yeni lira pieces. Bank notes are of 1,
5, 10,
20, 50 and
100 new lira. The exchange rates
for foreign currencies are published daily.
Eurochecks can be
cashed immediately as can Travellers cheques upon producing
identification. The most widely accepted credit cards are American
Express, Eurocard, Diner's Club, Visa and Mastercard. Exchange
offices in touristic places are generally open until midnight.
In resort there are ATM machines near every
bank and large supermarkets like Tansas and Migros, also in most places
you will be able to pay by credit card, be it a shop or a restaurant. Most
Turkish banks charge commission on cash back and cash advances
so may be asked to cover this cost. Also
most shops, restaurants and bars accept foreign currency for payments. Always check commission
rates, as the exchange rate displayed outside is usually the Selling rate.
You can also check the daily rate of TL on our website.
The exchange slips for the conversion of foreign currency into
Turkish lira should be kept, since you may be required to show
these when reconverting your Turkish lira back into foreign
currency, and when taking souvenirs out of the country (to prove
that they have been purchased with legally exchanged foreign
currency).
There is no limit
to the amount of foreign currency that may be brought into
Turkey, but not more than $5,000 worth of Turkish currency may be
brought into or taken out of the country.
Note: You may exchange
traveller's checks at Post Offices in touristic places and at
certain banks. |
