The New Turkish Lira (Yeni Türk Lirasi, YTL or TRY), was introduced on January 1, 2005, but YTL/TRY banknotes are being replaced during 2009 with new E9 series notes called simply Turkish Lira (Türk Lirasi).
The 2009 TL notes (bills) are in denominations of TL1, 5, 10, 20, 50 and 100 liras. The lira is divided into 100 Kurus (Kurus, koo-ROOSH), with coins in denominations of Kr1, 5, 10, 25 and 50 (Kurus) and TL1. More...
The 2005 New Turkish Lira (YTL) notes are being withdrawn during 2009 as the new "E9" series of TL bank notes is introduced. After December 31, 2009, YTL notes will no longer be accepted for payment, but may be exchanged for the newer 2009-series Turkish Lira notes at any branch of the Central Bank of the Republic of Turkey (TC Merkez Bankasi), or TC Ziraat Bankasi.
Turkish liras is how the bill for your Istanbul hotel, your rental car, a nargile (water pipe) or just a glass of Turkish tea will be denominated during 2009.
Here are current Turkish Lira exchange rates.
It's usually best to obtain your Turkish liras in Turkey rather than before you leave home, as the exchange rates outside Turkey are usually not as good as those inside the country.
It's easy to obtain liras while you travel in Turkey by using your home bank ATM card, or exchanging cash US dollars, Euros or GB pounds. More...
The 2009 Turkish Lira is equivalent to one million (old, pre-2005) Turkish Liras (TL). In other words, six zeros were dropped from the old TL in 2005 to make the new TL.
Old pre-2005 Turkish Liras The YTL replaced the old pre-2005 Türk Lirasi (TL, TRL). Old Turkish liras were withdrawn from circulation during 2005.
Note that you should not accept pre-2005 Turkish Lira notes any more. They are no longer legal for payment.
Old TL notes may now be exchanged for YTL only at Turkish Central Bank (TC Merkez Bankasi) offices or, in the absence of a Central Bank office, at a TC Ziraat Bankasi office, until December 31, 2016.
After December 31, 2016, old TL notes and coins will no longer be legal tender (ie, official currency). In other words, they will be worthless except for their curiosity or collectors' value.
CounterfeitingWith the changes in banknotes in 2005 and 2009, there's been an increase in counterfeiting of the new Turkish money, especially of TL50 notes. It's done two ways:
— Counterfeit notes are printed that do not have all of the official security features
— New Turkish Lira notes with the official security features are altered to show a higher value (ie, a YTL1 note is altered to look like a YTL50 or YTL100 note)
Look carefully at any higher-denomination YTL notes/bills to make sure they are legitimate. A few seconds' inspection often suffices.
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