Which currency is used? Euros or Turkish Lira?

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Which currency is used? Euros or Turkish Lira?

Postby bodanzarama » Mon Oct 05, 2009 11:36 pm

All of the hotel sites I'm visiting list the rates as Euors. But while I'm in Turkey I will be using Turkish Lira, right? Why the difference?

Thanks in advance! :)
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Re: Which currency is used? Euros or Turkish Lira?

Postby davcamp » Tue Oct 06, 2009 12:26 am

I am in Istanbul right now...I used a credit card but Euros are accepted...I usually get cash from ATM's where your withdrawl will come out As Liras.
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Re: Which currency is used? Euros or Turkish Lira?

Postby carrie » Tue Oct 06, 2009 1:31 pm

The reason for all the prices being in euros is because many of the travellers passing through are from E U countries, however you can pay in euro, GBP's, US dollars and of course local lira.

Second the Turkish lira does not always have a very stable value, therefore they quote their rates in strong currencies (Euros or Dollars) because the Turkish Lira fluctuates a lot...years ago...before the Euro rates were quoted in German marks and US dollars..

PS..Nevertheless, if you pay your hotel bill with your visa or mastercard upon departure, you'll see that the equivalent in TL will be charged, based on the exchange rates on that day.

Also be aware that YOUR credit card company will calculate the exchange rate ( possibly higher or lower ) for the turkish liras charged back to your credit card...if that makes any sense..

What I am trying to say is the banks make the money..I have seen in the past travellers paying the bills in turkish liras and then once they get home and get their bank statements the rate might be calculated differently..and for each bank it is different..some places will take foreign currencies..some might not..best to have some turkish liras as well..
Carrie Akkelle
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Re: Which currency is used? Euros or Turkish Lira?

Postby steve » Tue Oct 06, 2009 5:01 pm

Hotels that charge in TL tend to be cheaper. Not just a better exchange rate (because you know exactly where you are), but they tend to be less 'modern' establishments and the owners aren't as switched on. Just my experience, but the cheapest places I have stayed are the ones that quoted me in TL and took TL cash as payment. This, for me, has been true from Istanbul through to Malatya. The 'posher' and arguably better hotels usually have their rate in Euros. You can catch a cold here if you pay by credit card as the Euro charge will then be converted into TL and this will be done at the 'discretion' of the hotel owner, and some are more discreet than others! Carrie is right that the banks also take their cut, but in my experience any unexpected charges (and there aren’t always unexpected charges) tend to be from the hotel.
For example, I regularly stay at a hotel in Northern Cyprus. If I am quoted a total cost of say £400 and then fax my credit card details over for it to be charged in TL. The bill would almost always have an extra £25 on it, partly due to the bank charges but also due to the rate which the hotelier decided to apply. I got used to this and always factored it in. I still stayed there and if I had wanted to avoid this charge I could have simply transferred the funds in Sterling into their UK-based account.
Uncle Steve’s moral is pay in cash if you want to know exactly where you are. I take enough Euro cash to cover the Euro rate quoted by each hotel and then there is no argument nor any unexpected variance. Furthermore, many hotels will give you a discount of up to 10% for paying in cash.
Apologies for the sermon.
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Re: Which currency is used? Euros or Turkish Lira?

Postby bodanzarama » Tue Oct 06, 2009 5:06 pm

steve, carrie, davcamp, thank you all for your input. This gives me more to think about and I will seriously consider paying in cash. :wink:
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Re: Which currency is used? Euros or Turkish Lira?

Postby meander » Tue Oct 13, 2009 4:01 pm

Hi, Just returned from a three week stay in Turkey and you are correct...the tl, euro, and $ dealing is very confusing. Before I left the USA I purchased both euro and tl...wished I had not purchased euro as I ended up changing purchased euro into tl....doubling exchange rates! In rural areas and at museums, restaurants, most hotels and inns, the currency was tl. On the street it was tl. If I had it to do over, I would only bring tl.
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