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Foreign Exchange Guide to Turkey

This currency guide to Turkey helps you choose the best way to save money on TRY transfers and travel money.    [HKD/TRY=0.7384]

 
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 sending 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.

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

In the second half of April, the lira slipped to its weakest level in 6 months against the dollar, at ₺5.83. It was 11.5 percent lower than its strongest level from January, but was 21.5 percent higher than its 2018 low (2018 was a crisis year for the lira).

In April, Turkey described a reform package aimed at lifting the economy out of recession. The package included billions injected into banks, reduced tax exemptions, lower corporate tax rates and a crackdown on the shadow economy; however, ratings agencies did not see many positives in the plans due to inadequate details.

TradingEconomics.com sees the lira quoted 5 percent weaker against the dollar in April 2020, at ₺6.14.

The interactive chart below shows the HKD to TRY exchange rate and trend for the previous 3 months:

At 0.7384 HKD/TRY is trading well above its 90 day average 0.7279 with range 0.7554 to 0.6981. There are currently no alerts. Updated: 08:52-AEDT 22:52-BST 17:52-EDT

Travel, Currency and Money saving tips for Turkey

 

From the ancient port city of Ephesus (Efes) to the soaring Byzantine dome of Aya Sofya, Turkey has more than its fair share of world-famous ruins and monuments. A succession of historical figures and empires – including the Romans, Byzantines and Ottomans – have all left their mark on this former stopover along the Silk Road. Experiencing their legacy takes you from the closeted quarters of the sultan and his harem in İstanbul's sprawling Topkapı Palace to the romantic and mysterious Lycian ruins on Mediterranean beaches.

The capital of Istanbul.

What currency to use in 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.

Your home-bank account will be debited for the amount you withdraw from a Turkish ATM (plus a service charge, of course). Because bank card fraud is a big problem in Turkey, there is a chance that your home bank may limit or deny use of your ATM/cash/debit card in Turkey so let your bank know in advanced you are going there.

Cappadocia's otherworldly 'fairy chimney' rock formations.

How to get around in Turkey?

Turkey is well connected by air throughout the country, although many flights go via the hubs of İstanbul or Ankara. Domestic flights are a good option in such a large country, and competition between the following keeps tickets affordable.

Turkey's intercity bus system is as good as any you'll find, with modern, comfortable coaches crossing the country at all hours and for very reasonable prices. On the journey, you'll be treated to hot drinks and snacks, plus liberal sprinklings of the Turks' beloved kolonya (lemon cologne).

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 purchase a guaranteed seat, but when you board you may find it full.  Just get the driver to ensure you get a seat.

Bus fares are subject to fierce competition between companies, and bargains such as student discounts may be offered. Prices reflect what the market will bear, so the fare from a big city to a village is likely to be different to the fare in the opposite direction. Unmarried men and women are not supposed to sit together, but the bus companies rarely enforce this in the case of foreigners. You may be asked if you are married, without having to produce any proof of your wedlock, or both travellers may find their tickets marked with bay (man).

Most Turkish cities and towns have a bus station, called the otogar, garaj or terminal, generally located on the outskirts. Besides intercity buses, otogars often handle dolmuşes (minibuses that follow prescribed routes) to outlying districts or villages. Most have an emanetçi (left luggage) room, which you can use for a nominal fee.

The Hagia Sophia.

Don't believe taxi drivers at otogars who tell you there is no bus or dolmuş to your destination; they may be trying to trick you into taking their taxi. Check with the bus and dolmuş operators. Because most bus stations are some distance from the town or city centre, the bus companies often provide free servis (shuttle buses). These take you to the bus company's office or another central location, possibly with stops en route to drop off other passengers. Ask 'Servis var mı?' ('Is there a servis?'). Rare cities without such a service include Ankara and Konya.

Driving around Turkey gives you unparalleled freedom to explore the marvellous countryside and coastline, and to follow back roads to hidden villages and obscure ruins. Bear in mind that Turkey is a huge country and covering long distances by car will eat up your time and money. Consider planes, trains and buses for long journeys, and cars for localised travel. Public transport is a much easier and less stressful way of getting around the traffic-clogged cities.

Turkey has many ancient ruins.

Travel tips for Turkey.

Turkey's diverse landscapes, from Aegean olive groves to eastern steppe, provide a lyrical setting for its many great ruins. The country's most magical scenery is to be found in Asian Anatolia, where beautiful vistas are provided by the vertiginous Mediterranean coastline, Cappadocia's otherworldly 'fairy chimney' rock formations and wavy valleys, the alpine pastures of the Kaçkar Mountains, and golden beaches such as 18km-long Patara.

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.

The best thing about sampling Turkey's delicious specialties – ranging from meze on a Mediterranean harbour to a pension breakfast featuring ingredients fresh from the kitchen garden – is that they take you to the heart of Turkish culture. For the sociable and family-orientated Turks, gathering together and eating well is a time-honoured ritual. So get stuck into olive oil–lathered Aegean vegetables, spicy Anatolian kebaps and dishes from Turkey's many other corners – and as you drink a tulip-shaped glass of çay and contemplate some baklava for dessert, remember that eating is deepening your understanding of Turkey.

 

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.

   

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!

 
  

HKD to TRY International Money Transfers

  

Foreign Transfer ProvidersReceive TRY(₺)Exchange RateFee HKDTotal CostDeal Links
WorldFirst logo
36,7350.734700.5%
OFX logo
34,9900.69980 for BER users (normally $15)5.23%
DBS Bank logo
34,6250.6932506.22%
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo
34,2540.6857557.22%
HSBC logo
34,1500.6841HK$807.5%
Citibank International Money Transfers
Citibank logo
33,9870.6799127.94%
WorldRemit logo
Your amount above the WorldRemit HKD2000 maximum
 

WorldFirst logo

WorldFirst: Foreign Transfer HKD→TRY
From Amount (HKD)HK$50,000
Fee:
Exchange Rate:0.7347 (0.5% from mid-rate)
To Amount (TRY)36,735
Total Cost:0.5%
Time:1:07 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 

OFX logo

OFX: Foreign Transfer HKD→TRY
From Amount (HKD)HK$50,000
Fee:0 for BER users (normally $15)
Exchange Rate:0.6998 (5.23% from mid-rate)
To Amount (TRY)34,990
Total Cost:5.23%
Difference:
₺1,745 TRY less than using WorldFirst
Time:
Rate Fetched: Sun Oct 20 2019 00:18:03 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

DBS Bank logo

DBS Bank: Foreign Transfer HKD→TRY
From Amount (HKD)HK$50,000
Fee:50
Exchange Rate:0.6932 (6.12% from mid-rate)
To Amount (TRY)34,625
Total Cost:6.22%
Difference:
₺2,110 TRY less than using WorldFirst
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer HKD→TRY
From Amount (HKD)HK$50,000
Fee:55
Exchange Rate:0.6876 (6.88% from mid-rate)
To Amount (TRY)34,254
Total Cost:7.22%
Difference:
₺2,481 TRY less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

HSBC logo

HSBC: Foreign Transfer HKD→TRY
From Amount (HKD)HK$50,000
Fee:HK$80 HKD (Minimum fee)
Exchange Rate:0.6841 (7.35% from mid-rate)
To Amount (TRY)34,150
Total Cost:7.5%
Difference:
₺2,585 TRY less than using WorldFirst
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Citibank logo

Citibank: Foreign Transfer HKD→TRY
From Amount (HKD)HK$50,000
Fee:12
Exchange Rate:0.6799 (7.92% from mid-rate)
To Amount (TRY)33,987
Total Cost:7.94%
Difference:
₺2,748 TRY less than using WorldFirst
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

WorldRemit logo

WorldRemit: Foreign Transfer HKD→TRY
From Amount (HKD)HK$50,000
Fee:
Transfer Speed:1 day
Services:Bank Transfers & Cash Pickup - Online only
Rating:
 
: 4.5/5.0
Reviews:
 
Snapshot 10/20/2019 - See full table
 

TRY/USD - Turkish Lira to United States Dollar - Historical Rates

PeriodTRY/USDDate
1 Day0.168614 Oct 2019
7 Day0.171308 Oct 2019
30 Day0.174815 Sep 2019
3 Month0.175917 Jul 2019
1 Year0.173015 Oct 2018
5 Year0.441816 Oct 2014
10 Year0.683917 Oct 2009

TRY/EUR - Turkish Lira to Euro - Historical Rates

PeriodTRY/EURDate
1 Day0.152914 Oct 2019
7 Day0.156308 Oct 2019
30 Day0.157715 Sep 2019
3 Month0.156717 Jul 2019
1 Year0.149415 Oct 2018
5 Year0.345116 Oct 2014
10 Year0.459517 Oct 2009

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

PeriodTRY/GBPDate
1 Day0.133714 Oct 2019
7 Day0.140208 Oct 2019
30 Day0.139915 Sep 2019
3 Month0.141517 Jul 2019
1 Year0.131515 Oct 2018
5 Year0.274816 Oct 2014
10 Year0.418817 Oct 2009

TRY/AUD - Turkish Lira to Australian Dollar - Historical Rates

PeriodTRY/AUDDate
1 Day0.248914 Oct 2019
7 Day0.254608 Oct 2019
30 Day0.254215 Sep 2019
3 Month0.251117 Jul 2019
1 Year0.242515 Oct 2018
5 Year0.504916 Oct 2014
10 Year0.746017 Oct 2009

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