The Turkish lira was re-valued at the end of 2004 to become the ‘New Turkish Lira’. The word ‘New’ has now been dropped, and we are back to ‘Turkish Lira’ again (TRY).
It is normally cheaper to convert money to Turkish Lira in Turkey than at home. Using an ATM or a credit card will often get you the best possible exchange rates; the post and telephone office (PTT) and banks offer very reasonable rates, too. Try to use ATM machines that are attached to banks while they are open, so that if your card is swallowed you can go into the bank and get it released back to you.
It is difficult for us to specify the money that you will spend per day, however, as a general rule USD 20-50 per day can provide you with additional meals, tipping, snacks & drinks. Should you wish to purchase many souvenirs or other luxuries, of which there is a diverse range, you will have to budget for these.
A mixture of cash and credit cards are the best forms of currency. Credit cards are accepted in most restaurants, bars and pubs. MasterCard and Visa are most welcomed; American Express cards work at some ATMs and AmEx offices. Credit cards are also useful for cash advances, which allow you to withdraw Lira instantly from associated banks and ATMs throughout Turkey. Cash cards and ATM’s are widespread in most of Turkey including in Istanbul, Canakkale, Selcuk, Marmaris, Pamukkale, Fethiye, Kas, Cappadocia, and Ankara.