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CURRENCY AND CASH IN ISTANBUL
Please note that in istanbul you do need to have Turkish Lira on you if you wish to get about as not many places would accept foreign currency.
on the 28.November.2022, currency rates were floating in the region of
DOLLAR 19 TL | EURO 20 TL | STERLİNG 23 TL
This page will be updated when there is a dramatic change accurs
To start with, you do not need to exchange your currency in yor own country. Simply because you can get higher currency exchange rates in Istanbul, especially in Sultan Ahmet area.
Dont worry about where you can exchange your currency as there are many visible places who does exchange currency with clear signs saying Exchange/Change Office.
Obviously you would like to have peace of mind, then I suggest you use the Exchange offices based in the Sultanahmet area. They have clear signs indicating the latest figures and do not operate in commission bases. Addition to that, Grand Bazaar would be also an ideal place to exchange your money in to Turkish Lira.
If you are considering to bring along Travellers Cheques then be aware that you can exchange them in the Banks and there is usually a surcharges applicable can be high as 20 dolar per Cheque, remember to take your passport with you to the Bank. Please note that these days most banks dont deal anymore with travellers cheques.
ATM's or Hole in the Walls as some say are everywhere in Istanbul. Regards to ATM you have nothing to worry about. If you are not in the touristic zone, do not expect to draw out in your own currency. It will be in Turkish Lira.Saying that nowadays most cash machines do provide cash withdrawel services in different currencies such as in Euro, dolar and Sterling, bare in mind usually in the areas where many tourists hanging about.
Also, make sure that you do speak to your bank before traveeling abroad how much will cost you per transaction in Turkey. As you know, when Debit cards used abroad usually there is up to 5% extra charges. With other words for every Hundred dolar or sterling you are drawing out from the Cash Machine you will be paying a fiver.
Alternativly if you are not much a spender, if possible bring smaller banknotes with you and you can exchange them when ever , where ever you need it.
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