Hello fellow travelers. I will traveling in Turkey this Sept-Oct (actually, on one of Ricks tours) and have contacted my Hotel to inquire about booking a room for an additional night (I am flying in a day early). In my response back, I was surprised that I quoted a price in Euros, not in YTL (new Turksih Lira) currency. I notice my Lonely Planet guidebook also has prices quoted in Euros. I'm simply curious if anyone knows how widely Euros are accepted in Turkey and is it better to convert my money into Euros or YTL upon my arrival?
Altho we havent been to Turkey, we can tell you that Euros are accepted by most big hotels and large businesses. This is true in virtually every country, even those not on the Euro, bcuz the countries are either wannabe Euro or wannabe EU (like Turkey).
The Euro is more stable and sound than most Eastern European currencies. That said, Euros are almost never accepted by small vendors and operators bcuz of the costs of changing to local currency. You will need both currencies. Bring Euros and get YTL from ATMs
Turkish hotels quote prices in euros because the euro is more stable. You'll definitely want to get YTL once you're in Turkey. On the west coast, euros and pounds were accepted at some places, with the occasional acceptance of the USD. In Cappadocia, USD were more widely accepted. I wouldn't bother with euros unless you already have some. Just plan on getting YTL and bringing a bit of USD as a backup. I would suggest having a good supply of 5's and 10's. And don't forget about the $20US visa fee, payable at the airport.
I am Gokhan from Turkey / izmir & istanbul
If you don't want to lose to much differance between rates, I recommend you to exchange your currencies in offical exchange offices in day time between 09:00-17:00. There is only max 2% ; but in other times and other places it may be up to 6-7%
You can find anywhere and it is much more beneficial than to change in hotels, bankomats etc..