If you haven’t been to Turkey for some time but you still have some bank notes left over from your trip they won’t now be legal tender. But you can change them if you have the time.

The Turkish currency has undergone two changes in the last five years.

In the first change on 1 January 2005 the Turkish Government re-designated their currency from the Turkish Lira (TL) to the Yeni Turkish Lira (YTL).

Years of high inflation had increased the Turkish Lira to such a level that the currency was into millions, and trillions.

So, on 1 January 2005 six zero's were removed from the currency. The old TL notes were withdrawn from circulation one year later on 1 January 2006.

The conversion rate was:

The second change occurred on 1 January 2009 when Turkey marked the return to designating its currency as the Turkish Lira (TL) rather than the new Turkish Lira (YTL). New bank notes were introduced. The old YTL notes were withdrawn from circulation one year later on 1 January 2010 .

The conversion rate was:

1 New Turkish Lira (1 YTL) equals to 1 Turkish Lira (1 TL).

1 Turkish Lira (1 TL) equals to 100 Kurus (100 Kr).

1 YTL = 1 TL

1 YKr = 1 Kr

1 TL = 100 Kr

So can you change your old money to new?

The good news is that you have ten years in which to change old money bank notes to the new. If you have old coins hanging the exchange period is only one year and coins must be changed by 31 December 2010.

To change your old money you will need to visit the nearest branch of the Ziraat Bank (T.C. Ziraat Bankası) as they are the only bank, other than the Turkish Central Bank, that is authorised to do the exchange.

In Fethiye the branch is located near to the downtown Migros supermarket / Council Offices. Present your old cash and ask for new.