Tourist should compare Turkish Lira exchange rates

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The Turkish Lira is very competitive right now and if you are planning on traveling around Turkey or visiting Istanbul rather than staying in one of the great many all inclusive resorts then the Turkish Lira is really working in your favour. Tourists that avoid the all inclusive deals can get extremely good value for money when the Turkish Lira exchange rate is low like this. For the all inclusive traveller then their spending money needs are so small that the exchange rate makes little difference.

I am not saying that if you are staying in an all inclusive resort you should not compare exchange rates. The difference between best and worst exchange rates on just £500 of spending money at the time of writing is 136 Lira or nearly an extra £40-worth of currency to spend. On the other hand the average person going to Turkey but not staying in a resort takes over £1000 with them would get 275Lira more by just spending the 30 seconds it takes to compare holiday money prices. These savings are all based on the tourist rates, we have recently launched our international transfers comparison and those rates are even better but I am not over inflating the savings here, these are all for cash by home delivery.

This year so far the Turish Lira exchange rate has fallen nearly 7% (6.81%) and a few weeks ago it was even better than it is now. After the general election we would expect it to bounce fall further in our favour. Despite Turkey NOT being part of the Euro and eurozone it is still effected but that market as a major trading partner. The discussions between Germany and Greece at the end of the week depressed the Lira and the Euro equally and was seen by the currency markets as more significant than the looming UK general election.

If you are planning a trip to Turkey this year I would serious suggest you start to watch the exchange rates 3-4 weeks in advance of your trip and see how the best Turkish Lira exchange rates are performing. To make this easier under each comparison table we do supplier some simple graphs so you can see how it has fluctuated in the past week and 90 days.

 

Posted by Peter Rudin-Burgess

Peter Rudin-Burgess

Peter is one of the founding partners for both Compare Holiday Money and Currency Buy Back. He regularly blogs on financial matters and writes content for a number of blogs in the travel industry.

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