In this guide we review :
- Travelling in Turkey - Practical tips
- Buying Turkish Lira Cash Online - Travel money for Turkey
- Turkish Lira (TRY) - Currency Market News
- Sending Money to Turkey - Save on Turkish Lira bank transfers
- Turkish Lira Exchange Rates - Latest info & charts.
Turkey Travel Practical Tips
In Turkey cash machines that dispense Lira are everywhere, usually with around a 2% conversion, and probably a $5 transaction fee from your bank per transaction. The Euro is accepted in some places, and the American dollar almost nowhere. Turkey businesses have a bit of a 'get a little more if you can' attitude so check your bills and if you would prefer not using your credit card perhaps purchase a Prepaid Travel Card before leaving. The Turkish haggle so if you are a stern haggler you can get items up %40 of the price initially quoted.
In the touristy areas and you look like a tourist you will be flocked by people trying to sell you all manner of things. If you do not want anything they offer it is fine to ignore them, they will eventually move onto the next tourist. Drink bottled water, it's cold and cheap and since it can be hot all the time in Turkey have some on you at all times to avoid dehydration.
Public buses are a good and economical way to travel between cities in Turkey, but they are not as comfortable as intercity trains in Europe. The buses are generally 20-30 passengers and serve both as regional transportation and city buses which means people get on and off, paying for driver for the distance they travel. You can purchased a guaranteed seat, but when you board you may find it full. Just get the driver to ensure you get a seat.
Travel Money for Turkey - Buying Turkish Lira (TRY)
Save money and time by Ordering your Turkish Lira Online from Travelex, you get better rates and can pick up the TRY cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Turkish Lira otherwise you may get much worst exchange rates.
Turkey Trip Checklist
- Compare TRY Travel Cash Rates - probably why you are here!
- Hotel Deals - Save on your accomodation in Turkey
- Travel Insurance - for those unexpected travel adventures...
- Lonely Planet - Travel Guide 3 for 2 offer
Turkish Lira (TRY) - Currency Market News
In the first nine months of 2017, the Turkish lira vastly underperformed other emerging market currencies.
This was the year in which those in Turkey would have hoped their national currency might buck its long-term downtrend and make gains against the dollar. The dollar had, after all, declined 10% to September 24th (per the US Dollar Index). Instead, the lira remained more or less flat on the year (strengthened 0.8%). By comparison, the Mexican peso, Thai baht and Russian ruble had strengthened 16.8%, 8.3% and 6.6% respectively.
In 2017, potential buyers of lira were once again being frightened away by inflation, which ticked back up into double figures in August (+10.7%). Annualized inflation came in at levels above 10% in six of the seven months between February and August.
In September, the team at TradingEconomics.com were bravely predicting a stronger lira by the end of September 2018. They saw USD/TRY falling to 3.13 (TRY/USD 0.319), from rates of 3.5 (TRY/USD 0.286) at the time of their prediction.
Sending Money to Turkey
When sending money to Turkey it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a provider (id docs may be required)
- You specify the local or Turkish Lira amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted TRY amount will be transfered to the recipient account you specify in Turkey.
You can save around 5% and maybe more - end result is more Turkish Lira deposited into the recipient bank account in Turkey and less margins and fees kept by the banks!Compare Transfer Exchange Rates to Turkey