The crisis was caused by the Turkish economy's excessive current account deficit and large amounts of private foreign-currency denominated debt, in combination with President Recep Tayyip Erdoğan's increasing authoritarianism and his unorthodox ideas about interest rate policy.

What currency is used in Turkey 2021?

Top picks of 2021

The Turkish lira is the accepted currency in Turkey, and although you can pay with euros in some places, you'll always get a better deal paying in the local currency.

Is the pound strong against the lira?

The exchange rate – pound to Turkish lira

The pound is relatively strong against the Turkish lira, meaning holidaymakers can get great value for their money when visiting Turkey. The exchange rate is currently 1 GBP to 7 TRY (according to xe.com), though will likely have shifted since the time of writing.