Istanbul's currency exchange bureaus, known as "döviz", are the best places to change money. Firstly, you can rest assured that most of the bureaux de change in Istanbul are safe. However, be aware that their rates will vary slightly. Banks, in particular, tend to offer less favourable rates than exchange bureaus, so I recommend avoiding banks when exchanging money. The worst exchange rate is at Istanbul Airport. If you need to change money at the airport, try to change as little as possible.
Here are a few more tips to help you get the most out of your currency exchange experience in Istanbul:
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Best places to change money in Istanbul
The exchange bureaus in and around the Grand Bazaar generally have the best rates to get the best deal. But don't waste too much time hopping from one bureau to another. Check the rates at a few 'döviz' points and choose the one with the best rates.
Note: The further away you are from tourist areas, the harder it is to find an exchange office.
- Grand Bazaar: One of Istanbul's most visited landmarks. You can easily find currency exchange kiosks around the Grand Bazaar, especially in the gold dealers' section near the Mahmutpasa entrance.
- Taksim Square: A popular area with many money changers offering reasonable rates.
- Istiklal Street: Another busy area with various foreign exchange offices.
- Sultanahmet: The historic centre of Istanbul and home to some currency exchange bureaus.
Tips for exchanging money in Istanbul
Compare rates: Exchange rates are displayed prominently at the entrance or inside the office. Rates can vary slightly between offices, so comparing a few before making a transaction is a good idea.
Avoid airports and hotels: Airport and hotel exchange rates are usually 15-20% worse than at exchange offices.
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Commissions: Some bureaux may charge a commission or fee for exchanging money. Always ask about any additional charges before proceeding.
Identification: Generally, you don't need to show any identification when exchanging money.
Tip: Don't change too much money into Turkish lira. You can pay with a bank card in most restaurants and shops. There is no point in keeping money in lira. The Turkish currency has depreciated rapidly in recent years.
Istanbul's exchange office opening hours
- On weekdays: Most exchange offices open around 9:00 am and close around 8:00 pm.
- Weekends: Many offices are open on weekends, but their hours may be slightly shorter, usually from 10:00 am to 6:00 pm.
- Holidays: Some exchange offices may be closed or have reduced opening hours on national and religious holidays. It's best to check in advance if you plan to exchange money these days.
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