Updated Info on Currency in Turkey?

Old Jul 14th, 2006, 04:37 PM
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Updated Info on Currency in Turkey?

I've read previous posts but hoped for updated info given the volatile nature of currency.

What should I do if my Istanbul hotel quoted me the rate in Euro? I have some euro left from my last trip but certainly not enough to pay for the hotel. The hotel webpage only gives rates in euro and the dollar -- either 90 Euro/night or 120 USD/night. Should I bring it in cash to get the small 8% discount? Just allow them to charge it onto my Capital One CC in Euro or dollar?

Is there an easy cheat-sheet/formula to deal with conversion rate between USD and Yeti? Should I just save the Euro I have for tips? I'm connecting through LHR so I won't be able to use Euros otherwise.

A friend who visited IST in 2003 was totally confused at the thought of my paying for anything in Euro -- she said her trip to Turkey was very cheap because she was using the Lira.

I'm leaving tomorrow afternoon, please advise if you can -- thanks!
fishee is offline  
Old Jul 14th, 2006, 05:52 PM
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Our hotel in Istanbul also quoted rates in Euro. But when the bill was presented it was in Turkish lira. I think all hotel bills are in reality based on the Turkish lira and that the Euro quote is to give you an estimate of the cost.

For you this is a bit late in the game---take a big breath, don't worry about it and trust me, you will love Turkey!!!!
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Old Jul 14th, 2006, 05:53 PM
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Don't panic, sweetie. I will help you. (Have you read my fabulous trip report on Istanbul?) The legal currency of Turkey is the lira. Some hotels will quote you a price in euros or American dollars, but you can pay in lira and that HAS TO BE ACCEPTED. Many small hotels will give you a 10% discount if you pay your bill in cash.

What in Gucci's name is a yeti, darling? I keep thinking Abominable Snowman.

You could put the cost on your credit card, in which you will be charged a conversion fee. Or you could pay in cash by withdrawing money from your bank account using your ATM card (there are kiosks across from the Hagia Sophia). This would be best if you want the discount.

Who are you tipping with your euros, sweetie? The currency of Turkey is the lira, not the euro.

Please explain if you need more help, sweetie.

My trip report is entitled <Turkey in the Straw: Thingorjus sleeps in Istanbul>.

Cheers,
John G.
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Old Jul 14th, 2006, 08:39 PM
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I'm a little freaked out, I normally plan out my trips but I've been too busy this time. What the hell is a yeti? I don't know, I must have made that up, a hairy pair of apres-ski boots that function as a rare form of currency in Istanbul, something dreamed up in a valium-induced haze.

I arrive IST at 4:30 pm -- meeting up with a friend an hour or so later. What to do, Where to eat for that first jet-lagged night? I printed out a copy of Turkey in the Straw for pure reading pleasure long before I even knew I was even headed to IST...
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Old Jul 18th, 2006, 12:26 AM
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It is probably not yeti that is mentioned but Yeni.

Yeni Lira or new lira as the country has revised its currency (delete the 6 zeros )
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Old Jul 18th, 2006, 12:49 AM
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So to answer some of OP's question (and to help me too \/) will the hotel take euro dollars as payment? Or do they want lira? It's just that my hotel quotes the euro rate and offers a discount for cash.
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Old Jul 18th, 2006, 02:43 AM
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Probably Turkey is the only country in Europe if you want to pay in Usd, Euros, Pounds all will be accepted in hotels, touristic vendors and sometimes even taxis.... So prices quoted in Usd or Euros can be paid in New Turkish Lira. Why hard currency quoted is just to protect establishments against inflation.
Happy travelling

Murat
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Old Jul 18th, 2006, 03:00 AM
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OK, thanks for that Murat.
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Old Jul 18th, 2006, 04:29 AM
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WShat are Euro dollars? I doubt that any hotel would take them as they dont exist. The currency of Europe (for the most part) is the Euro. Dollars belong to another part of the world.
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Old Jul 24th, 2006, 10:46 AM
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My guess is that quoting rates in Euros is one way that hotels are trying to cope with the recent wide swings in the valuation of the new Turkish lira. Since May or so, there has been some significant bobbling around in this currency.
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Old Jul 24th, 2006, 11:29 AM
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Honestly, Madame X, I think the reason for the quote or charge in euros for Americans is to eliminate the conversion charge on your credit card. This is how it was explained to me when I was in Istanbul last year. Supposedly, an American is charged a fee to convert euros to dollars on credit card purchases. There is an extra fee to convert Turkish lira to euros to dollars.
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