The New Turkish Lira (TRY) was introduced on January 1 2005. The old Turkish Lira (TL) was withdrawn from circulation on January 1 2006. It is now only possible to exchange old Turkish Lira for New Turkish Lira at the Central Bank until December 31 2015. TRY = 1,000,000TL. Notes are in denominations of TRY100, 50, 20, 10, 5 and 1. Coins are in denominations of TRY1 and 50, 25, 10, 5 and 1 New Kuruº (Ykr).

Cash can usually be exchanged commission free in bureaux de change, banks or hotels. Traveller's cheques can only be exchanged in banks. Travellers planning to exchange currency back before leaving Turkey, or making a major purchase which may need to be declared to customs, must retain transaction receipts to prove that the currency was legally exchanged.

American Express, Diners Club, MasterCard and Visa are accepted. ATMs are available in most areas.

Traveller's cheques can only be exchanged in banks. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in Pounds Sterling or US Dollars.

There are no restrictions on the import of local or foreign currency, though visitors bringing in a large amount of foreign currency should declare it, and have it specified in their passport upon arrival to avoid difficulties on departure. No more than the equivalent of US$5000 in local or foreign currency may be exported. It must be shown that this has been obtained from authorised banks.

Mon-Fri 0830-1200 and 1330-1700. Some banks in tourist areas are open daily.