Turkey: Money & Costs

With hardly a town lacking an ATM, it’s perfectly possible to get around Turkey with nothing else but a credit or debit card. Just remember to draw out money in the towns to tide you through the villages and keep some cash in reserve for the inevitable day when the machine throws a wobbly.
Currency of Turkey is New Turkish Lira and its symbol is ‘YTL’. The New Turkish Lira (YTL)(brought into circulation at the start of 2005 to replace the old lira’s unwieldy denominations) comes in notes of 5, 10, 20, 50 and 100.
The New Kurus (YKr) comes in coins of 1, 5, 10, 25, 50 and one New Turkish Lira. One hundred New Kurus equals one New Turkish Lira.
Changing Your Money – It’s easy to change major currencies in exchange offices, and many post offices (PTTs), shops and hotels; however, banks may make heavier weather of it. Cashing even major travellers cheques can be a hassle (although post offices in tourist areas are a good bet) and the exchange rate is usually slightly lower. Places that don’t charge a commission usually offer a worse exchange rate instead.
Although Turkey has no black market, foreign currencies are readily accepted in shops, hotels and restaurants in many tourist areas. If you’re left high and dry, most banks countrywide can do Western Union transfers.
Money Tips – Turkey is a relatively low-slung dollar burner. You can travel on as little as €20.00 to €35.00 per day using buses and trains, staying in pensions, and eating one restaurant meal. For €35.00 to €50.00 you can travel on plusher buses, take sleepers in overnight trains, kick back in one and two-star hotels and eat most meals in restaurants. For more than €50.00 per day you can move up to 3 and 4-star hotels, take the occasional airline flight, and dine in restaurants all the time.
Prices in Istanbul and along the coast are higher than in Cappadocia and elsewhere inland.

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