Local Currency Converter
The local currency in Bodrum Turkey is the Turkish Lira, but you can also spend Euros, British Pounds, and US Dollars at most all of the main tourist venues. When you pay in a foreign currency, you willl receive your change in local currency, so it's imperative that you become familiar with the exchange rates. However, it is important to know that most of the smaller village shops will be likely to only take cash in the form of Liras. And...in bodrum, cash rules. You will most often be able to get discounts and to bargain with sellers if you are paying cash; in many places a 10% cash discount is standard, though you may need to ask for it to show you are "in-the-know".
For up to date rates, check out: Current Rates
There are plenty of places to buy and sell foreign currency in Bodrum, just be sure to pay attention to associated fees being charged and carefully count the exchanged amount. We recommend exchanging money when you get here because it is usually the case that the rates are more favorable than changing money in your home town. Or, you can simply use your bank card to get money out of ATM's, often at only a bit more than going to one of the banks directly. In all choices, you will be better served to draw out large sums at one time versus daily small draws.
Also, a great tip to know is that you will not lose any fees at all if you can do the transfer yourself from an online banking app, where there are both currency accounts. So, most locals here keep these accounts and mange this way. Therefore, if you are lucky enough to be staying with friends here, it will be to your benefit to give them the incoming cash and let them transfer it online and give it back to you in liras. After all, what are friends for?
