Getting to grips with money in Turkey is straightforward once you know the basics, and a little preparation makes daily spending smooth. The country runs on the Turkish lira, and the way you carry and use your money matters more here than in some destinations.
The Turkish lira
The national currency is the Turkish lira, written internationally as TRY and marked with the symbol ₺. It comes in banknotes of several denominations and smaller coins, and all prices are quoted in lira. You will quickly get used to seeing the ₺ sign on menus, price tags and market stalls.
In recent years the lira has experienced high inflation and a weak exchange rate against currencies such as the pound, euro and dollar. For local people this brings real challenges, but for foreign visitors it has one clear effect: Turkey offers very good value. Meals, transport and accommodation often feel inexpensive when converted from a stronger home currency, which is part of the country’s enduring appeal as a destination.
Cards and cash
Turkey has a modern payment infrastructure, and cards are widely accepted in cities, hotels, larger shops and most restaurants. Contactless payment is common in urban areas, so for much of a city trip you can rely on a card.
That said, cash remains essential in plenty of situations. Market stalls, small family-run cafés, taxis, village shops and rural areas may take cash only, and having notes on hand avoids awkward moments. The sensible approach is to carry a mix: a card for hotels and larger purchases, and a reasonable supply of lira in smaller notes for everyday spending. Keeping some small change makes tipping and quick purchases easier.
ATMs and getting lira
ATMs are common, found in city centres, at airports, in resort towns and even in many smaller places. They are the simplest way to obtain lira at a fair rate — usually better than exchanging cash at a bureau. When withdrawing, if the machine offers to convert the amount to your home currency, decline and let your own bank do the conversion, which is generally cheaper. Withdrawing larger amounts less often also helps keep fees down.
Bargaining in the bazaar
Haggling is woven into the culture of the traditional markets. In the bazaars — the covered markets of Istanbul, the carpet and souvenir shops, the market traders — bargaining is expected, and the first price quoted is rarely the final one. Approach it as a friendly, unhurried exchange rather than a confrontation: show interest, make a counter-offer well below the asking price, and settle somewhere in between. Being offered tea while you negotiate is normal and part of the ritual.
Bargaining does not apply everywhere, though. Supermarkets, shops with fixed price labels, restaurants and transport all have set prices, and trying to haggle there would be out of place. The rule of thumb: if there is a price tag, pay it; if there is not, you can probably negotiate.
Tipping
Tipping, known as bahşiş, is customary but modest. In restaurants a tip of around five to ten per cent is appreciated for good service, and it is often left in cash even when you pay the bill by card. Small tips for hotel porters, tour guides and drivers are welcome. Nothing lavish is expected — a little goes a long way, and rounding up is common for taxis and cafés.
A sensible backup
Because the exchange environment can shift, it is worth carrying a small reserve of euros or dollars as a backup. These are easy to exchange at short notice, accepted in some tourist businesses, and reassuring to have if a card is lost or an ATM proves uncooperative. Keep them separate from your main cash and cards.
With a card, some lira and a modest backup in hard currency, you will be well set for anything a trip throws at you. To plan where that money will take you, browse our destinations.