Money

Istanbul

Ortakoy and the Bosphorus, Istanbul © 123rf.com/Carlos Sanchez Pereyra
Most Popular Hotels in Istanbul:
Utangac Sok No:19 Sultanahmet, 34400
K. Ayasofya Mah. Mehmetpasa Sok.No 11/13, 34650
Akbiyik Cad. No:38 Sultanahmet, 34122
Tevfikhane Street No:8/A Sultanahmet, 34122
 
 




After over two decades of rampant inflation, when increasingly larger denomination banknotes had to be put into circulation every couple of years (the largest note in 2005 was 20 million TL, worth around US$15), things took a turn for the better in 2005. Inflation calmed down to 7.7% and the devaluation of the Turkish Lira in January 2006 meant ridding of all the zeros, hence 1,000,000 Turkish Lira became 1 Yeni Turk Lirasi (New Turkish Lira).

1 Turkish New Lire (YTL1) = £0.42; US$0.62; C$0.77; A$0.87; €0.46
Currency conversion rates as of April 2009

Tours of Istanbul

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