Author Topic: Turkish Lira in UK  (Read 5441 times)

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Offline cef

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Re: Turkish Lira in UK
« Reply #10 on: May 14, 2014, 00:53:06 AM »
Turkish government are probably trying to get more foreign money into Turkey....?

It's reminding me of Cuba's currency policy.  Peso is the official currency but foreigner's can only buy 'Cuc's in Cuba, at a rate the national bank decides.......  But (to a Cuban) a 'Cuc' is worth a hell of a lot more, cause they 'fix' the exchange rate.......  Fascinating country  :)



Offline davybill

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Re: Turkish Lira in UK
« Reply #11 on: May 14, 2014, 07:49:30 AM »
Funny isn't it,people having a job to get T/lira in UK, and  people having trouble getting Sterling.
Out of cash machines in Fethiye?

Offline Colwyn

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Re: Turkish Lira in UK
« Reply #12 on: May 14, 2014, 09:55:57 AM »
I don't know the answer to this but a couple of possibilities occur to me.

First, Turkey Central Bank has been selling a minimum of $40 million per work day and vacuuming up TL. This policy changed last Friday when the minimum was dropped to $20 million. A combination of this support alongside the high interest rates probably accounts for the recent strengthening of the lira.

Second, the Turkish holiday season doesn't seem to get into full stride until towards the end of May so there may not yet be a large demand for lira and exchange agencies may be reluctant to hold large stocks of a volatile currency.

Meanwhile my 67TL is gaining value all the time!

Offline JohnF

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Re: Turkish Lira in UK
« Reply #13 on: May 14, 2014, 16:18:18 PM »
I think your first option is closer to the mark Colwyn.  Exchange companies tend to have a pretty good idea of what currencies are in demand and which ones aren't, on daily or even hourly basis.  I don't think they keep a large "stock" as such, but buy sufficient currency to meet their projected demand, again within a very short time frame.

Maybe now the holiday season is almost with us we'll see a slight loosening of the TCB's fiscal policy of hoovering up Lira from most of the FX markets. 

Anyway, a stronger lira suits me just now... we're in the process of selling our house in Istanbul and it's being sold in Lira  :)

JF

Offline pops

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Re: Turkish Lira in UK
« Reply #14 on: May 14, 2014, 17:45:15 PM »
Again, From Martin Lewis' website....Comparisons for getting Lira in the UK.

http://travelmoney.moneysavingexpert.com/?utm_source=MSE_Newsletter&utm_medium=cheaptravelmoney&utm_term=13-May-14-v2&utm_campaign=travelmoney&utm_content=10

Today....14/5....Lira not available from Nat West but apparently readily available from other sources.

Offline shandy

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Re: Turkish Lira in UK
« Reply #15 on: May 14, 2014, 21:16:57 PM »
Asda have it and are not aware of any problems, the rate is poor though 3.34 the other day x

Offline pops

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Re: Turkish Lira in UK
« Reply #16 on: May 14, 2014, 22:24:25 PM »
Lira not available as an option two minutes ago on the Asda website.....they had it as an option yesterday. ???

Offline echogirl1

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Re: Turkish Lira in UK
« Reply #17 on: May 15, 2014, 17:07:48 PM »
It is all very erratic at the moment, but I'm glad I've now got enough lira to last the holiday unless I get carried away at the Promises Auction  : :)

Offline Mrs T

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Re: Turkish Lira in UK
« Reply #18 on: May 16, 2014, 17:04:54 PM »
Post Office now limiting Turkish Lira to 1000 per customer




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