When planning a trip to Turkey from India, knowing which currency to use will help you manage your travel expenses more easily. Turkey’s currency is the Turkish Lira (TRY). Although foreign currencies like the Euro or US Dollar can be used, the Turkish Lira remains the most commonly accepted currency. In this article, we will discuss everything that you need to know about currency in Turkey, the best currency to use in Turkey, and how to change Indian Rupees (INR) for Turkish Lira.
Currency of Turkey
The official currency of Turkey is the Turkish Lira, TRY, often represented by ₺ or TL. One lira has 100 kuruş. You will see lira both in coins and in notes. Coins are available in 1, 5, 10, 25, and 50 kuruş and 1 lira coins. Banknotes are for 5, 10, 20, 50, 100, and 200 lira.
In tourist areas, especially in hotels and large restaurants, some businesses accept Euros and US dollars. However, the Turkish Lira remains the most widely accepted currency. Paying with foreign currencies often results in unfavorable exchange rates. So carrying some Turkish Lira during your stay in Turkey is advisable.
Which is the Best Currency to Use in Turkey
For Indian tourists, the most convenient currency is the Turkish Lira. It is accpeted everywhere from major cities like Istanbul and Ankara to small towns and villages. Dollars and Euros are just as common as the Lira, especially in tourist areas. However, using the Turkish Lira ensures you get the best value for your money. This is because vendors frequently provide low exchange rates when you pay in foreign currencies.
That said, there are a few payment methods you should consider:
- Cash: Most people in local markets, smaller shops, and public transportation such as buses and taxis prefer Turkish Lira. Carrying cash is a good idea, especially when traveling to rural locations where card payments may not be accepted
- Credit/Debit Cards: Credit and debit cards, especially Visa and Mastercard, are widely accepted in cities and tourist spots. However, it’s essential to notify your bank in India that you will be traveling to avoid any blocks on your card due to foreign transactions.
- ATMs: You can ATMs in all regions of Turkey. You can withdraw Turkish Lira directly from the ATMs using your Indian debit or credit card. This approach normally provides a favorable exchange rate; however, keep in mind that your bank may incur overseas withdrawal costs. However, it is best to use bank-affiliated ATMs as they are safer and less vulnerable to fraud.
How to Exchange Indian Currency to Turkish Lira
There are several ways to exchange your Indian Rupees (INR) for Turkish Lira (TRY). Here are the most convenient options:
- Currency Exchange in India: You can change INR to Euros or US Dollars at any currency exchange institution or bank in India before traveling to Turkey. There is a possibility that direct conversion of INR to TRY will not be available, so it’s better to convert to one of the more widely used currencies like USD or Euro. You can exchange these for Turkish Lira once you arrive in Turkey.
- Currency Exchange in Turkey: After arriving in Turkey, you can exchange your euros or US dollars for Turkish Lira at the local exchange offices called Döviz Bürosu. You can find these offices easily in the cities and tourist areas. Avoid exchanging money at airports and hotels as they tend to offer high exchange rates.. However, one should choose those exchange offices that are in the city center, for instance, near the Grand Bazaar in Istanbul. Because the competition among currency exchangers usually leads to better exchange rates.
- Using ATMs: Another popular and convenient option for most Indian travelers is to withdraw Turkish Lira from ATMs using their debit or credit cards. Usually, this provides a fairly reasonable exchange rate, but the bank might charge international withdrawal fees. Therefore, it is wise to use bank-affiliated ATMs, as these are relatively safer and less prone to fraud too.
- Traveler’s Checks: Utilizing traveler’s checks in turkey is not recommended. They are becoming outdated, and if you do find a location that accepts them, the taxes and exchange rates can be extremely high. Using cash and cards is a more convenient option.
Tips for Getting the Best Exchange Rates
- Avoid Airports and Hotels: The exchange rates offered at airports and hotels are typically much lower than what you can get at local currency exchange offices. It’s best to only exchange a small amount of money at the airport if necessary, and wait until you reach a more competitive location for larger exchanges.
- Check out the mid-market rate: Always stay informed about the mid-market rate that is the actual exchange rate before you go to change your money. This way, you can judge whether an exchange office or ATM is offering you a reasonable rate. You can use online currency converters to see the latest exchange rates.
- Clean and Undamaged Bank Notes: When carrying cash to exchange in Turkey, ensure that the notes are clean and undamaged. Some exchange offices may reject torn or marked notes
Conclusion
For Indian travelers, using Turkish Lira is the most practical and cost-effective choice in Turkey. While Euros and US Dollars are accepted in some tourist areas, using Turkish Lira provides better value and convenience. In order to make the most of your trip, make sure to exchange a small amount of your Indian Rupees into Euros or US Dollars before reaching Turkey so you can exchange those for Turkish Lira once you arrive there. You can also withdraw cash Lira directly from ATMs. However, be sure to first verify that your bank would not charge you for that withdrawal.
Knowing how to exchange money, and handling your expenses in Turkey, you’ll be able to focus on enjoying your trip without worrying about currency issues.
