Turkish Lira

Kevin!

Hello,

I was just wondering, where would be the most competitive place to get some turkish lira? Rate's fairly decent at the moment and looking to take advantage.

cheers,

Kevin.

double GG

I'm not too sure, but in Bulgaria across the border, you get a much better deal on their Euro to Lev in Bulgaria than here in Ireland.

Try have a look on the Tripadvisor forum. Some very helpful pieces on their, and there should be threads on exchanging money.

An post are commission free at the moment but check the rate.
Failing that if you have a friend working in a bank,ask them to get it for themselves on your behalf and that will also be commission free.

Kevin!

double GG wrote: »

I'm not too sure, but in Bulgaria across the border, you get a much better deal on their Euro to Lev in Bulgaria than here in Ireland.

Try have a look on the Tripadvisor forum. Some very helpful pieces on their, and there should be threads on exchanging money.

thanks for the suggestion, but I won't be in Turkey until July and it shoots up over the summer months

Deleted User wrote: »

An post are commission free at the moment but check the rate.
Failing that if you have a friend working in a bank,ask them to get it for themselves on your behalf and that will also be commission free.

http://www.anpost.ie/AnPost/MainContent/Personal+Customers/Money+Matters/Foreign+Exchange/

is it only £/$ that is included in the offer?



& also, I've heard that withdrawing it from a credit card is commission free/cheaper - is this true?

Carpenter

Well its at its best over the last few weeks so get it somewhere quick mid november it was 194tl

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1e today its 221

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1e

Kevin!

Kevin! wrote: »

thanks for the suggestion, but I won't be in Turkey until July and it shoots up over the summer months



http://www.anpost.ie/AnPost/MainContent/Personal+Customers/Money+Matters/Foreign+Exchange/

is it only £/$ that is included in the offer?



& also, I've heard that withdrawing it from a credit card is commission free/cheaper - is this true?

mea culpa,it may only be the pound and dollar alright.

It's only free on a credit card if your credit card has a positive cash balance,ie you owe nothing on it and you have lodged cash into it.
That used be the case but with the way things are going,they may have added a charge to that aswell.

Kevin!

Carpenter wrote: »

Well its at its best over the last few weeks so get it somewhere quick mid november it was 194tl

---

1e today its 221

---

1e

yea, that's the plan

Deleted User wrote: »

mea culpa,it may only be the pound and dollar alright.

It's only free on a credit card if your credit card has a positive cash balance,ie you owe nothing on it and you have lodged cash into it.
That used be the case but with the way things are going,they may have added a charge to that aswell.

thanks for the clarification, do all banks do turkish lira or is their only certain ones? ie aib/boi ect?

cheers

Country bank branches/smaller branches might have to order it for you.

Kevin!

Deleted User wrote: »

Country bank branches/smaller branches might have to order it for you.

Just after checking AIB's/BOI's website, I can't find any relation to them selling turkish lira - is it available from banks?

Of course it is.
They probably even have libyan Dinar but because it's one of the lesser currencies,you'd have to order it.
You need to ring a few of the branches and ask for their foreign exchange desk.
They're very likely to get turkish lira easily if not have a little in stock [except country branches] as it's a holiday destination.

blorg

The spread (for Euro) is a lot lower in Turkey than you will get here. Just because the Lira was stronger last summer than now does not mean it will be strong again this summer, there is no pattern there. It could go either way but inflation is higher in Turkey and it is not historically the strongest of currencies, albeit a lot better than before.

Kevin!

blorg wrote: »

The spread (for Euro) is a lot lower in Turkey than you will get here. Just because the Lira was stronger last summer than now does not mean it will be strong again this summer, there is no pattern there. It could go either way but inflation is higher in Turkey and it is not historically the strongest of currencies, albeit a lot better than before.

I thought it went up in the summer months due to booming tourism revenue & is you're post suggesting that It might stay in or around what it is now for a few months or..

thanks

blorg

It could stay as it is or it could change- in either direction. The recent weakening of the lira seems to result from a deliberate policy from the Turkish central bank- if this is the case it is arguably less likely that it will significantly strengthen again. It could get weaker (good for exports.) But if I knew which way FX movements were going to go I would be very rich indeed. Personally I would not be buying in advance.

tatli_lokma

as a past resident of Turkey, who used the trends to bolster our savings a bit, we found that the trend tends to be 2.10 - 2.20 to the € MArch/Apr. Goes down to about 1.9/2.0 in May, usually around 1.7-1.9 in June-August, sometimes sept, then creeps up again as the winter goes on.
Of course, in any year there can be a buck to the trend, but this is usually the case. If you can order lira with your bank now, it would be a good idea to stock up.

Having said that, although the rate changes, a fair amount of places will alter their lira price in relation to this, so for eg, a beer is 3TYL and the rate is 2.20 to €1, then the rate changes to 1.9, and the beer goes down to 2.50TYL. Tourism is slower over the last 2 seasons so this happens a lot more now.

also, consider what resort you are going to...Kusadasi, Bodrum and Alanya will be geared towards euro and will give good prices if you buy in euro (cos they then get a good deal on the exchange as buying lira from euro is a better rate then the other way around!)
However if you are in Altinkum, Olu Deniz or Fethiye the majority of tourists are Brittish, so the prices are geared for the sterling pound.

we tend to swap money between currencies at various times of the year, buying lira when the euro is strong and vice versa. We make a couple of hundred euros a year on our savings this way, and on occasion have come out of it very well.

HTH!