Fears over the health of Turkey’s finances has caused the local currency, the Lira, to take a nosedive. This means that your Pounds will now get you much more Turkish Lira than they did a year ago. In fact, last year, £1 would have bought TL4.60 but now it will get you closer to TL6.80.
That’s great news if you’ve already booked a holiday to Turkey or are thinking of a last-minute trip to take advantage of the situation. But, the sudden drop means that it is actually hard to buy the currency in the UK and waiting until you get there will leave you with a poor rate.
What currency should I take to Turkey?
Not only is Lira difficult to find at the moment but when you get out to Turkey you may find more people accepting other currencies such as Pounds or Dollars as an alternative.
To avoid being in a situation where you don’t have the right currency to pay whilst you are away, we recommend taking a FairFX Everywhere Card with you for maximum flexibility. Load your card with Pounds and it will automatically exchange your money to Lira when you’re paying in shops and restaurants in Turkey.
And if you need cash to pay in markets and small shops, just get cash at an ATM (a small £1 ATM fee applies).
A hassle-free way to automatically convert your Pounds to Lira.