Loading...
Best Exchange Rates

Home pages - full list (A-Z)

Foreign Exchange Guide to Turkey

Read this currency guide to Turkey with money transfer and travel tips.   [USD/TRY=5.277]

 
Turkey
Country Code:
TR
Domestic Currency:
Turkish Lira
Symbol - Code:
₺ TRY
Telephone Prefix:
+90

This is a foreign exchange guide to Turkey, the Turkish Lira currency plus TRY transfers and travel tips.


In this Turkey currency guide we take a look at :

  1. Turkish Lira info - general info about the Turkish Lira
  2. Turkish Lira in the markets - recent TRY moves and predictions from the FX markets
  3. Travelling in Turkey - currency & money saving tips
  4. Buying Turkish Lira cash online - travel money for Turkey
  5. Sending money to Turkey - save on Turkish Lira bank transfers to Turkey
  6. Turkish Lira exchange rates - latest & historic exchange rates.
  7. TRY News - the latest Turkish Lira related articles from our blog.

Turkish Lira (TRY) general currency information


What is the Turkish Lira currency code and symbol?

The three letter currency code for the Turkish Lira is TRY and the symbol is .


Which countries use the Turkish Lira?

It is the domestic currency in Turkey.

The lira is subdivided into 100 kuruş.

Global interest in the lira has picked up considerably since the turn of the millennium. By 2016, the lira was the 16th most traded currency in the world. It had been 30th most traded in 2001.

Precious metals remain an important cog in Turkey’s economy. “Turkey is home to the entire gold value chain from mining and refining, to jewellery design and investment,” says the World Gold Council, and this therefore links short and medium-term changes in the lira’s value to the broader commodities cycle.

Short-term changes in the lira are also driven by risk sentiment. As a riskier, emerging market currency, the lira will fall in value against the major currencies of the world (especially JPY, USD, CHF, GBP and EUR) during periods of economic uncertainty or when geopolitical risk is elevated.

It is fair to say about the lira’s long-term value that it is stuck in perpetual decline.

Ravaged by above-100% inflation, the lira lost 97% of its value against the dollar between the mid-1990s and early 2000s. In 2003, with a single dollar buying 1.5 million lira, the Turkish government decided to redenominate, and this took place in January 2005, striking six zeros from the lira.

Post-redenomination, the historic downtrend in the lira persists, barring some stability between 2005 and 2008.

Between January 2008 and January 2017, the lira lost 71% of its updated value as TRY/USD fell from its post-redenomination high of 0.8772 (USD/TRY 1.14) to its post-redenomination low of 0.2538 (USD/TRY 3.94).


Turkish Lira (TRY) in the markets

12-February-2019: The lira has been remarkably stable since December, having floated between 5.15 and 5.55 per dollar, with a few brief exceptions.

Though the lira is considerably stronger than its August ’18 extreme, it is still worth nearly 30 percent less than it was a year ago. In mid-2018, the lira weakened beyond 7 to the dollar (a record low), shocking investors.

From here on in, the lira stands to appreciate, or will at least be among the best performing emerging market currencies of 2019, says an analyst at ING. The analyst said in February that the lira was “the most undervalued in the whole emerging market space.”

With the US Federal Reserve now likely to slow the pace of its interest rate hikes, or stop them, the dollar is forecast to weaken, and emerging market currencies typically gain value in such conditions because their respective governments usually hold high levels of dollar-denominated debt, which becomes easier to repay when dollars are cheaper.

The interactive chart below shows the USD to TRY exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.


USD-TRY 3 Month chart
USD-TRY 3 Month chart
USDTRY currency converter

Travel, Currency and Money saving tips for Turkey

 

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, its 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

 

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.

 
Travel Money Providers
Ratings & Reviews
Amount TRY(₺)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
Wells Fargo Bank logo
4,940.67 TRY
Compare
5.0415$206.38%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
4,940 TRY
₺0.67 less
4.9906$106.39%Branch-
U.S. Bank Foreign Currency
U.S. Bank logo
4,939.6 TRY
₺1.07 less
4.939606.4%Branch-
 
Travelex Online US logo
4,721.1 TRY
₺220 less
4.72110^10.54%Online order, Branch pickup, Home delivery2-3 days
Wells Fargo Bank: Travel Money USD→TRY
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:5.0415 (4.46% from mid-rate)
TRY amount:4,940.67 TRY
Total Cost:6.38%
Time:0:09 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo

Travel Money USD→TRY
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:4.6175 (12.5% from mid-rate)
TRY amount:4,940 TRY
Total Cost:6.39%
Currency Services:Branch
Delivery/Collect:-
U.S. Bank: Travel Money USD→TRY
USD amount:$1,000 USD
Fee:0
Exchange Rate:4.9396 (6.4% from mid-rate)
TRY amount:4,939.6 TRY
Total Cost:6.4%
Time:0:09 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Travelex Online US: Travel Money USD→TRY
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:4.7211 (10.54% from mid-rate)
TRY amount:4,721.1 TRY
Total Cost:10.54%
Time:
Rate Fetched: Tue Aug 14 2018 15:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Note we do not compare every single provider in the market, we compare a selection of established, reputable foreign exchange providers & banks who are regulated in the US as licensed money transmitters. We may receive referral fees if you choose one of these providers however this will not affect the exchange rates or fees you are charged.
Rate snapshot: 02/18/2019
 

Turkey Trip Checklist    

 
  1. Compare TRY travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in Turkey
  3. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to Turkey

When searching around for information on how to get a good exchange rate when sending money to Turkey you need to start with finding out the latest Turkish Lira foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).

What prime property does $US1m buy in Istanbul?

The area (㎡) of prime property that $US1million buys in Turkey's capital city Istanbul in Q1 2018 is 110㎡.

This is compared to equivalent areas for Hong Kong 22㎡, London 27㎡, Singapore 37㎡, Paris 45㎡, Shanghai 50㎡, Tokyo 70㎡, Berlin 74㎡, Mumbai 94㎡, Dubai 138㎡ and San Paulo 172㎡.


Get a better deal for foreign transfers 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 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Turkish Lira amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted TRY amount will be transfered to the recipient account you specify in Turkey.

Use our Send to TRY calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Turkish Lira deposited into the recipient bank account and less margins and fees kept by the banks!

 
Foreign Transfer Providers
Ratings & Reviews
Receive TRY(₺)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
51,887 TRY
Best Overall
5.18870^1.68%Bank Transfers - Online & Phone1-2 days
Wells Fargo Bank logo
50,808 TRY
₺1,079 less
5.09183.72%Online, Branch, Bank Transfers2-3 days
HSBC logo
50,772 TRY
₺1,115 less
5.0848$153.79%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
50,463 TRY
₺1,424 less
5.0758154.37%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
50,135 TRY
₺1,752 less
5.0641$1005%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
50,135 TRY
₺1,752 less
5.0641$1005%Online, Branch, Bank Transfers2-3 days
 
OFX: Foreign Transfer USD→TRY
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:5.1887 (1.68% from mid-rate)
TRY amount:51,887 TRY
Total Cost:1.68%
Time:
Rate Fetched: Sun Feb 17 2019 22:04:15 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
Wells Fargo Bank: Foreign Transfer USD→TRY
USD amount:$10,000 USD
Fee:18
Exchange Rate:5.0900 (3.55% from mid-rate)
TRY amount:50,808 TRY
Total Cost:3.72%
Difference:
₺1,079 less than using OFX
Time:0:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
HSBC: Foreign Transfer USD→TRY
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:5.0848 (3.64% from mid-rate)
TRY amount:50,772 TRY
Total Cost:3.79%
Difference:
₺1,115 less than using OFX
Time:0:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo

Foreign Transfer USD→TRY
USD amount:$10,000 USD
Fee:15
Exchange Rate:5.0537 (4.23% from mid-rate)
TRY amount:50,463 TRY
Total Cost:4.37%
Difference:
₺1,424 less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Bank of America: Foreign Transfer USD→TRY
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:5.0641 (4.04% from mid-rate)
TRY amount:50,135 TRY
Total Cost:5%
Difference:
₺1,752 less than using OFX
Time:0:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
U.S. Bank: Foreign Transfer USD→TRY
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:5.0641 (4.04% from mid-rate)
TRY amount:50,135 TRY
Total Cost:5%
Difference:
₺1,752 less than using OFX
Time:0:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Note we do not compare every single provider in the market, we compare a selection of established, reputable foreign exchange providers & banks who are regulated in the US as licensed money transmitters. We may receive referral fees if you choose one of these providers however this will not affect the exchange rates or fees you are charged.
Rate snapshot: 02/18/2019
 

Popular TRY cross rates


TRY/USD - Turkish Lira to United States Dollar - 10 Year History

DateExchange RatePeriod
10 Feb 20190.19041 Week
18 Jan 20190.18761 Month
21 Aug 20180.16456 Months
17 Feb 20180.26701 Year
17 Feb 20170.27552 Years
18 Feb 20140.45875 Years
19 Feb 20090.594310 Years

TRY/EUR - Turkish Lira to Euro - 10 Year History

DateExchange RatePeriod
10 Feb 20190.16811 Week
18 Jan 20190.16511 Month
21 Aug 20180.14216 Months
17 Feb 20180.21521 Year
17 Feb 20170.25962 Years
18 Feb 20140.33345 Years
19 Feb 20090.468510 Years

TRY/GBP - Turkish Lira to British Pound Sterling - 10 Year History

DateExchange RatePeriod
10 Feb 20190.14721 Week
18 Jan 20190.14571 Month
21 Aug 20180.12756 Months
17 Feb 20180.19031 Year
17 Feb 20170.22202 Years
18 Feb 20140.27505 Years
19 Feb 20090.414410 Years

TRY/JPY - Turkish Lira to Japanese Yen - 10 Year History

DateExchange RatePeriod
10 Feb 201920.90941 Week
18 Jan 201920.59761 Month
21 Aug 201818.11576 Months
17 Feb 201828.38241 Year
17 Feb 201731.09332 Years
18 Feb 201446.91835 Years
19 Feb 200955.890710 Years

TRY/AUD - Turkish Lira to Australian Dollar - 10 Year History

DateExchange RatePeriod
10 Feb 20190.26811 Week
18 Jan 20190.26181 Month
21 Aug 20180.22356 Months
17 Feb 20180.33771 Year
17 Feb 20170.35932 Years
18 Feb 20140.50855 Years
19 Feb 20090.919310 Years

TRY/CAD - Turkish Lira to Canadian Dollar - 10 Year History

DateExchange RatePeriod
10 Feb 20190.25281 Week
18 Jan 20190.24881 Month
21 Aug 20180.21446 Months
17 Feb 20180.33531 Year
17 Feb 20170.36082 Years
18 Feb 20140.50255 Years
19 Feb 20090.745210 Years

More BestExchangeRates Country Guides


Country Guides (A-Z)

A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
Y
Z

Currency News and Forecasts - United States Dollar

HSBC Cuts Australian Dollar Forecast; Aussie to Buy Only US66¢ at Year-End
China’s Ant Financial Acquires WorldFirst
New Zealand Dollar Jumps After RBNZ Says It Won’t Lower Interest Rates
Dollar Optimism Drives Markets
Cryptocurrencies Soar: Litecoin Gains 30 Percent
Tough Week for Australian Dollar as RBA Disappoints on Growth, Interest ...