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Where to exchange Euros for Turkish liras?

Learn all about the currency in Turkey. Read about how to change your Euros to Turkish Lira, exchange houses, and so much more.

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July 10, 2023

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Are you getting ready for your trip to Turkey? Then, it is time to make a checklist of the things you need to take on your luggage to Turkey. But it is also important to consider everything you need to know about the currency of Turkey and how to exchange your euros to Turkish liras.

In this checklist, we will look into everything about money and budget: how much you need, the type of currency to travel to Turkey, and especially how to exchange money and where it is most convenient to do so.

To find an exchange house in Turkey, it is essential to have an internet connection, so we recommend you get a virtual SIM card for Turkey, and avoid paying for the expensive international roaming.

Let’s start now with the details of the currency to travel to Turkey!

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What is the official currency of Turkey?

As you could see below, the currency of Turkey is the Turkish lira (TL or TRY), which is divided into fractions of 100 Kuruş. The banknotes are represented in 5, 10, 20, 50, 100, and 200 lira denominations, while the coins are in 1, 5, 10, 25, 50 kuruş, 1 lira.

Turkish currency
The Turkish Lira, the official currency in Turkey. Source: gloablexchange.es

Where to change euros to Turkish currency?

If you are planning to exchange Euros into Liras, you may be wondering where you can carry out this transaction. And the truth is, it’s best to check several foreign currency exchange offices given that they all have different fees, as well as the reputation and reliability.

Exchange houses

This is undoubtedly the first option to consider because the process of exchanging the currency in Turkey is much easier. You can find exchange houses both in Spain and Turkey. Nonetheless, everything will depend on the office location. Why? Because exchange houses located at airports or in large cities usually have unfavorable rates.

It is very important that before making the currency exchange to travel to Turkey, you make a comparison since that will give you an advantage. Not all exchange houses are bad options, but it is good to find out which of them is the best so that you do not lose a lot of your money in the process.

Tip: You might know this, but it is worth emphasizing that you should not leave everything to the last moment. Keep track of the exchange rate and perhaps take advantage of a currency dip or rise, depending on the case, some time before you travel.

Currency exchange houses in Türkiye

At Western Union exchange offices in Turkey, you can exchange money reliably. Another option may be Global Exchange, but remember that everything will depend on the rate and the location.

To find an exchange house in Turkey, you just have to look for the Döviz sign, which is indicative of the transactional place. There you can check the exchange rate applied, but we suggest that you look for information about the repurchasing euros.

ATMs

ATMs
ATMs are a great option. Source: Pexels.

If you run out of cash on your trip to Turkey, you can get money using the ATMs available in the country. This is the reason why we recommend that you carry at least one credit card so that if you need cash, you can withdraw Turkish lira from the ATM.

Another great option is to exchange euros directly at the bank with the various cards that you can request online, such as the N26 or BNEXT.

Tip: Check the conversion rate that your bank works with.

Exchange offices

In exchange offices or agencies, you can exchange money regardless of the currency, including traveler’s checks. The same exchange agencies that we will mention below, have offices where you can exchange other currencies to liras.

The process won’t take more than 24 hours, since it will be immediate, so if you want to make the change in person in Turkey, you should consider this option.

Online currency exchange agencies

There are different options to exchange currency to travel to Turkey online. When you search, you will find that they offer currency exchange without commissions, but consider that it may take a few days.

One of the advantages is that you can compare the prices between the different options from the comfort of your home. The deliveries are at home, and in a few days, you will convert your euros into Turkish liras.

Some of the agencies for this purpose are Eurochange, Global Exchange, and Exactchange. In case you still have the money in Turkish lira when you get home, they can offer you the option to change to euros or repurchase.

Buy Turkish lira in Spain

If you prefer to take money from Spain and make the currency exchange for Turkey with anticipation, exchange houses are your best option. First of all, we recommend you not to look for exchange houses in a very central or tourist spot because the rates will be higher.

As we told you before, airports are not the best option because of their high fees. Although today, many people choose to make the change to specialized online agencies because the process is simple and takes about a day.

Convert dollars to Turkish lira

The change from dollars to Turkish liras applies in the same way as with euros. But you will find some approximate values below:

  • $1 = 26.02 TL
  • $2 = 52.04 TL
  • $5 = 130.09 TL
  • $10 = 260.18 TL
  • $20 = 520.37 TL
  • $50 = 1300.92 TL
  • $100 = 2601.83 TL
  • $500 = 13009.15 TL

What is the value in euros of the Turkish lira?

Compared to the euro, the Turkish lira has a lower value, 1 euro = 28.53 Turkish liras approximately (June 2023), which is essential to consider when making the change. The liras are divided into the following denominations: 5, 10, 20, 50, 100, and 200 lira bills, and for coins 5, 10, 25, and 50 kurus and 1 lira.

Prices in Turkey can be a bit cheaper compared to Spain but it can vary.

Turkish currency equivalent to the euro:

  • €1 = 28.53TL
  • €2 = 57.05TL
  • €5 = 142.62TL
  • €10 = 285.23TL
  • €20 = 570.47TL
  • €50 = 1426.17 TL
  • €100 = 2852.34 TL
  • €500 = 14261.70 TL

However, the values of currencies are constantly changing. You will always find online currency converters that will help you plan how much money you need to take or change depending on your travel days and travel plans.

What currency is better to take to Turkey?

In some (tourist) places in Turkey, you can pay with euros. This is why some travelers wonder which currency is better to take to Turkey. Well, the answer is the Turkish lira.

The explanation is very simple because although it is more convenient for local people to pay with euros, for you, as a traveler, it is not the best due to the currency exchange. So, to have more profitability, the ideal is to exchange euros for lira before traveling, although it may be a bit uncomfortable.

Lamp store
Lamp store, Istanbul, Turkey. Source: Unsplash.

What are the prices in Turkey?

This may be a great question because knowing how much anything from a bottle of water to a one-way ticket on public transportation costs is important when traveling, this will let you know beforehand the approximate budget you will need to travel.

We will not tell you the exact prices because they are volatile depending on the business establishment, the season, and the area or location, but we will show you some approximate values:

  • 330 ml bottle of water (33cl): 1.50 LT = €0.18
  • National beer of 330 ml (33cl): 15.25 TL = €1.85
  • 330 ml (33cl) imported beer: 20.12 LT = €2.44
  • Full-day menu in an “expensive” tourist area: 45 LT = €6.07
  • Economic menu of the day: 30 LT = €3.64
  • Cocktail in an “expensive” tourist area: 56 LT = €6.80
  • 1-hour ride by Taxi: 30.30 LT = €3.68
  • Public transport ticket: 3.50 LT = €0.42

Prices may vary, especially for consumer products. The price will be different if you buy a beer in a supermarket, in a restaurant in a tourist area, or a smaller and cheaper restaurant.

The same goes for everything else, so if you want to buy something to drink or just as a snack, supermarkets have more competitive prices.

Recommendations

  • Do not forget to travel with an internet connection, for this, you can choose a prepaid eSIM card for Turkey.
  • Ask for the prices before buying anything, they may charge you more if you’re too gullible.
  • Learn some basic words in Turkish, they will help you a lot.
  • Plan your trip and your resources, so you will know perfectly how much to spend and you can better manage your Turkish lira.
  • Public transportation in Turkey is reliable, take advantage of this to travel to your destination.
  • The currency exchange for Turkey is most profitable in the destination country (Turkey).
  • Exchange only a little money before traveling.
  • When exchanging your money, remember that it must be in good condition, so it’s not rejected when you go to pay for something.