Currency exchange in Turkey – What are the best ways to exchange currency in Turkey?
Where will I get the best exchange rate? What are the best ways to exchange currency in Turkey? Where to exchange money in Turkey? These questions come to most travelers’ minds. Therefore, in this article from Ebla Real Estate, we will talk about the currency exchange in Turkey and the best ways to exchange currency in Turkey.
Table of contents:
- An introduction.
- The official currency of Turkey.
- The best ways to exchange currency in Turkey.
- Currency Exchange Offices.
- ATM Currency Exchange.
An introduction:
Turkey is a tourist attraction for thousands of foreigners, tourists and investors from all over the world. Most foreigners in Turkey need a safe and good way to exchange currencies.
The official currency of Turkey:
The official currency of Turkey is the Turkish Lira (TL or TRY). Turkish Lira is available in denominations of TL 5, 10, 20, 50, 100 and 200 liras. Each lira is divided into 100 kuruş. Coins are available in denominations of Kr 5, 10, 25, 50 in addition to 1 TL.
The best ways to exchange currency in Turkey:
Currency Exchange Offices:
Doviz Burosu is the Turkish name for currency exchange offices. Visitors can find exchange offices in almost all the major tourist spots, commercial areas and market places.
Moreover, exchange offices charge zero commission when you exchange foreign currency in Turkey. However, there is a difference when you buy or sell foreign currency. Buying rate (Alış) is the rate you need to pay attention to.
Furthermore, exchange rates are slightly better in Exchange Offices and the rates are usually the highest. It is easy to find places to exchange your money, but you may need to provide your passport and other details. It is worth noting that exchange rates at international airports in Turkey are usually worse than rates at city centers.
ATM Currency Exchange:
ATMs use the current bank rate, typically offering competitive exchange rates and lower fees (depending on the bank and destination). However, banks sometimes give low exchange rates due to the country’s economic reasons.
Exchange Turkish Lira in your bank’s ATM network is better because they allow you to withdraw cash only with 1% to 3% fees. Moreover, you have to avoid the out-of-network ATMs so you won’t get foreign transaction fees, where you end up paying fees to the bank and the ATM owner as well.
Usually, you can find ATMs at the airport. Thus, you can go there after you arrive. You can also search it while you are walking in the city later.
Edited by: Ebla Group Real Estate
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