Understanding Ankara Turkey Currency and Economy

Ankara, the vibrant capital of Turkey, is a city that seamlessly blends tradition with modernity. The Turkish lira (TRY) is the official currency of Turkey.

The Turkish economy is a mixed one, with a blend of state-owned and private enterprises. This mix has contributed to Turkey's economic growth and stability.

Tourists visiting Ankara often rely on ATMs to withdraw cash, but it's essential to know that many businesses in Turkey still prefer cash transactions. This means it's a good idea to have some local currency on hand.

Turkey has a relatively high inflation rate, which can impact the value of the Turkish lira.

On a similar theme: Turkey Currency Lira to Inr

The Turkish lira has undergone several changes since its introduction in 1923. The first Turkish lira was replaced by the second Turkish lira in 2005, with the new currency being introduced on January 1st of that year.

The value of the Turkish lira has fluctuated significantly over the years. In the 1960s, US$1 was equivalent to TL 9, but by 2005, it had fallen to TL 1,350,000. This extreme devaluation led to the Turkish lira being ranked as the world's least valuable currency in the Guinness Book of Records from 1995 to 2004.

The Turkish lira has undergone several revaluations, including a major one in 2005 that removed six zeros from the currency. This change was made to bring the currency in line with international standards and make it easier to use.

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In 2005, the Turkish lira underwent a significant change. The second Turkish lira was introduced, replacing the previous currency at a rate of YTL 1 = TL 1,000,000.

The revaluation of the Turkish lira briefly made the Romanian leu the world's least valued currency unit. The Government introduced two new banknotes with the denominations of ₺50 and ₺100.

The second Turkish lira was officially called Yeni Türk lirası, which is Turkish for "New Turkish lira", from January 2005 to December 2008. The currency code "TRY" was used, with the letter "Y" taken from the Turkish word yeni, meaning new.

The second Turkish lira was subdivided into 100 new kuruş, abbreviated as "YTL." In January 2009, the "new" marking was removed, and the currency's official name became just "Turkish lira" again, abbreviated as "TL."

All obverse sides of current banknotes have portraits of Mustafa Kemal Atatürk. The reverse sides of all coins, except for ₺1 commemorative coins, also have portraits of Mustafa Kemal Atatürk.

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Tunalı Döviz is a currency exchange office located in Ankara, Turkey. It's open from 9:00 AM to 6:00 PM on weekdays, with extended hours on Fridays until 6:30 PM.

You can visit Tunalı Döviz at their address: Barbaros, Barbaros, Tunalı Hilmi Cd., 06680 Çankaya/Ankara, Türkiye. It's also easy to get in touch with them by phone at +90 312 467 70 27 or by visiting their website at http://www.tunalidoviz.com/.

Their working hours are consistent from Monday to Wednesday and Thursday, with the same hours every day: 9:00 AM to 6:00 PM.

On Fridays, the office is open from 9:00 AM to 6:30 PM, which is a bit later than the usual closing time on other weekdays.

If you're planning to visit Tunalı Döviz on a weekend, be aware that they're closed on Sundays, but you can still go there on Saturdays from 9:00 AM to 5:30 PM.

Here's a summary of Tunalı Döviz's working hours:

In Turkey, you'll find a variety of currency types, including kurus coins and lira notes.

The kurus coins come in denominations of 1, 5, 10, 25, and 50, while the lira coins come in a single denomination of 1.

The lira notes, on the other hand, are available in denominations of 5, 10, 20, 50, 100, and 200.

Here's a breakdown of the lira notes:

Each lira note features a famous Turkish personality, adding a unique touch to the currency.

The ₺200 note, for example, depicts Yunus Emre, a famous Turkish poet, with a beautiful design that showcases his life and work.

The new series of lira notes, introduced in 2009, includes a ₺200 denomination and features a different design and size to prevent forgery.

The Turkish lira is the national currency of Turkey and is also used in Northern Cyprus.

Each Turkish lira is made up of 100 kurus, pronounced “koo-roosh”.

Turkey has been using the lira in various forms since 1844, with a major re-valuation in 2005 due to high inflation.

The Turkish lira's currency sign was originally symbolized as TL, but it's unclear if that notation was ever used within Turkey.

The current sign was created by the Central Bank of the Republic of Turkey in 2012 after a country-wide contest.

A total of 8,362 entries were submitted, and the winning design was chosen from a shortlist of seven submissions.

The new symbol is composed of the letter L shaped like a half anchor, and embedded double-striped letter T angled at 20 degrees.

The design was created by Tülay Lale and resembles the first letter of the Turkish monetary unit, L.

The Turkish lira sign was unveiled by Prime Minister Recep Tayyip Erdoğan on March 1, 2012.

The new sign was endorsed by Erdoğan, who explained that the anchor shape represents a "safe harbour" and the upward-facing lines represent the currency's rising prestige.

Faik Öztrak, vice chairman of the main opposition party CHP, alleged that the new sign resembles the initials TE of then-prime minister Tayyip Erdoğan.

The Unicode Technical Committee accepted the encoding of a new character U+20BA₺TURKISH LIRA SIGN for the currency sign in May 2012.

On Microsoft Windows operating systems, the Turkish lira sign can be typed with the combination AltGr+T when using Turkish-Q or Turkish-F keyboard layouts.

The Turkish lira is a unique currency with some interesting rules. Each Turkish lira (₺, TL or TRY) is made up of 100 kurus (pronounced “koo-roosh”).

Turkey has been using the lira in various forms since 1844. The lira has undergone significant changes, including a revaluation in 2005.

One new lira is equivalent to 1,000,000 old ones. This change was necessary due to decades of high inflation that made everyday transactions challenging.

To get a better deal when exchanging currency, it's worth considering making a bigger transaction with some providers. This can lead to a more favorable Turkish lira exchange rate.

You can save money by spending a few more pounds than you need to, as this can result in a better exchange rate.

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When traveling with Turkish currency, it's a good idea to pay by card if possible, as it's often the best option. Paying by card in local currency can save you money.

Always choose to be charged in the local currency when using your card, as it avoids poor exchange rates that can cost you €5-15 per transaction.

Take out cash from ATMs connected to a bank, as they offer a better exchange rate than others. You'll still need to be aware of your bank's withdrawal fees, usually around €5 per withdrawal.

Avoid using Euronet ATMs, as they charge a fee and offer a poor exchange rate.

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Paying in Turkey can be a bit tricky, but don't worry, I've got you covered. The Euro is widely accepted in tourist areas, but you'll likely lose money by paying in Euros due to poor exchange rates.

Always pay in the local currency, Turkish Lira, to get a fair exchange rate. If you need to withdraw cash, use an ATM connected to a bank, as they tend to offer better exchange rates than Euronet ATMs.

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To get the best exchange rate, find the mid-market rate for your currency pair on Google and look for a provider that offers this rate or close to it. Some online services like Wise offer currency exchange using live mid-market rates, with fees split out for clarity and transparency.

You can also compare rates across different providers, both online and in-person, and check for any additional fees or commissions that can push up costs.

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You can get an excellent exchange rate withdrawing cash from an ATM in Turkey if you have the right travel credit card, pre-paid card, or specialist current account. Just watch out for any ATM fees and remember to pay/withdraw money in the local currency when given the choice.

The Euro is widely accepted as currency in Turkey in tourist areas, but you'll lose a lot of money by paying in Euros because of the poor exchange rate. Always pay in the local currency – Turkish Lira.

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Paying by card is usually the best option, and if you choose to be charged in the local currency, you'll avoid losing money due to a poor exchange rate. Never choose your own currency when withdrawing cash from an ATM because you might lose €5-15 per time.

Using an ATM connected to a bank is a good idea, as they usually offer a better exchange rate than Euronet ATMs, which charge a fee and offer a poor exchange rate. Your bank will likely charge a fee when withdrawing cash abroad, usually about €5 per withdrawal + exchange fees.

To get the best currency exchange rate in Ankara, find the mid-market rate on Google and look for a provider that offers this or as close as possible to it. Some online services, like Wise, use live mid-market rates and clearly display fees.

Compare the available rates across different providers, online and offline, and be sure to check for any additional fees or commissions that can push up costs significantly. You can also use online currency converters or mobile apps to stay updated on the current exchange rates for your currency pair and buy when the time's right.

Here are the top-rated exchange services in Ankara, according to Google:

The top-rated exchange services in Ankara vary in Google rating, with some services standing out from the rest. OZAN DÖVİZ OSTİM is the highest rated with a 4.8 out of 5 stars.

Some services have higher ratings in certain areas of the city, while others have lower ratings overall. For example, in the Çankaya district, Yener Doviz has a 4.6 out of 5 stars, while in the Keçiören district, Hafsa Döviz ve Altın Tic.A.Ş has a 4.1 out of 5 stars.

You can see the Google ratings for each service in the list below:

Keep in mind that Google ratings can change over time, so it's always a good idea to do your own research before choosing a service.