MONEY

The national monetary unit is the Turkish lira (TL). The coinage is in 10,000, 25,000, 50,000 and 100,000 lira pieces. Bank notes are of 100,000, 250,000, 500,000, 1,000,000, 5,000,000, 10,000,000 and 20,000,000 lira. The exchange rates for foreign currencies are published daily. Eurochecks can be cashed immediately as can traveller's checks upon producing identification. The most widely accepted credit cards are American Express, Eurocard, Diner's Club, Visa and Mastercard. Exchange offices in touristic places are generally open until midnight.

For more information : Turkiye Bankalar Birligi, Nispetiye Cad., Akmerkez, No: 131 B-3 Blok, Kat: 13-14, 80630 Etiler-Istanbul. Tel: (212) 282 09 73 (16 Lines), Fax: 282 09 46.

Note : You may exchange traveller's checks at Post Offices in some touristic places and at certain banks.

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New Turkish Lira

The authorities have decided to drop six zeroes from the Turkish Lira. In other words, as of January 1, 2005, one million Turkish Lira in your wallet will be equal to 1 New Turkish Lira. As of January 1, 2005, the Turkish currency will be the Yeni Türk Lirasi (New Turkish Lira) YTL.

The subunit of the currency will be the Yeni Kurus (Ykr).
One New Turkish Lira will be equal to one hundred New Kurus. 1 YTL = 100 Ykr.
The New Turkish Lira banknotes will be 1, 5, 10, 25, 50 and 100 while.
The coins will be 1, 5, 10, 25 50 New Kurus and 1 YTL.

The existing banknotes and coins will be circulation until the end of 2005. As of January 1, 2006, these banknotes and coins will no longer be in circulation, although they will be able to be exchanged at Türkiye Cumhuriyet Merkez Bankasi (Central Bank) branches. In towns where there is no branch of the Merkez Bank, the exchange will be carried out by branches of Ziraat Bank. This exchange must be completed within 10 years. It will be obligatory to show all prices both in Turkish Lira and in New Turkish Lira (on labels etc.) throughout 2005.

Introductory brochures of New Turkish Lira banknotes will be available from all the banks in Turkey at the end of 2004.