Calis Beach and Fethiye Turkey Discussion Forum
Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: stoop on May 24, 2006, 11:34:24 AM
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Wow! Just seen 2.83ytl to the £. Hopefully this means things will work out cheaper this year. We will pay our site fees up front to take advantage of this fantastic rate (a year high I understand). It will also mean the other bills will be cheaper this year.
What's happening with food and drink prices? Are they shooting up to still get the same amount off us or are they roughly the same as last year? What's a pint of Efes at the moment?
Stoop:D
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Stoop,
We were over in May 7 I thought prices hadn't gone up too much from last year - effes 2.5 lira in some bars, a bottle wine still around 25 lira a bottle in a resturant. Dolumus still 1 lira.
rgs
Lorraine
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I was in Calis last week and paid 2.5 ytl I was told that there is a bar where its 1.75 ytl. thats a large bottle by the way. Hisaronu I paid 2ytl to 4.5 ytl for the same large bottle.
Tony
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2.83 ytl? stoop, where was that?
Just seen 2.73ytl to £ in the post office(local) not the pub.
What rates are to be got along the seafront in Calis anyone?
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Beware of places having/displaying prices in £££££'s, three weeks ago we had a meal and it was worked out at 2.3ytl we had the same meal again and it was based on 2.6ytl. The cost of the meal in this point is irrelevant, the point is you may get a good rate in exchange from the banks or whoever but find the advantage is lost. Prices done in ytl have not fluctuated.
Dippz
(looking after my hard earned money[^]).
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Thanks Dippz, has the price of wine gone up locally in Resturants from last year?
I was wondering about the people along the seafront that do money exchange for £s. What rates are they doing at the moment?
Any one just got back from calis?
Nige (drinkin more for less)
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Good !
Nigesam,
That was the latest £ - YTL rate this morning NOT the tourist rate. You will not get that rate over here in the UK but if you wait until you get to Turkey you will get more for your £. I would just take over enough top get you over the first day and exchange the rest in Calis.
Stoop:D
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I saw an article in one of the Sunday papers listing how
cheap or expensive it was to go on holiday abroad this
year.Turkey came out 3rd most expensive.Much more expensive
than Spain.Is that because of the lira or is it that the Turks
are just getting plain greedy.? Was'nt it once the cheapest
place to go on holiday?
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Not sure which paper you read but I would not agree with Spain being cheaper. Anyway if it was more than a couple of weeks ago things have changed a lot since then.
Stoop
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yes lots of brits going to spain and bulgeria
was told by famliy in uk
holidayshops pushing them not turkey
doll
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Beer still 2.5-3ytl food still resonable. Exchange rate 10 mins ago from guy on the sea front 2.80.
whoever said Spain is cheaper must be on drugs.
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Not the exact article I read but saying same thing.
http://www.telegraph.co.uk/travel/main.jhtml?xml=/travel/2006/05/06/etnewsspain.xml&sSheet=/travel/2006/05/10/ixtrvhome.html
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We always take sterling and pick up the best rate of exchange at the Post Office in Fethiye, they don't charge commission and you always get a receipt.
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I find it quite expensive along the sea front and thats what tourists will go by when they compare with holidays in other destinations. They also have started opening up resorts in Morocco in the brochures which is cheap to get to and not expensive when you get there...yet!
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if the no frills companies come to dalaman it will benefit all
cheaper flights mean more people can afford to use them
doll
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Webster - exrct from that article:
"Meanwhile, holidaymakers are likely to enjoy bargains to Turkey, Greece and Egypt due to a fall in popularity. Tourists have been put off by scares over bird flu in Turkey and bombs in Egypt.
"Sales to Turkey are around 28 per cent down," said Mr Fontenla-Novoa. "It has been hit by bird flu, but it has also dropped out of fashion, partly because it is no longer much cheaper than Spain
"
The pound has also gone up against the euro recently but nowhere near as much as against the YTL. The only thing I know that is more expensive involving Turkey is actually getting there. Hopefully this will change when the cheaper flights come in.
Stoop :)
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I agree ronzeus just got back on saturday, and thought it definately cheaper than at any time we visited last year and we went out four times. 1.75 YTL large bottle of efes in a bar. Spain cheaper no way. like I said you go into the popular bars like the FEZ in hisaronu you will pay 2.5 times more.
Tony
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I did'nt write the article and did'nt say I agreed with it.
But Turkey no longer is the cheap holiday destination it
was and that is a fact.
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As someone who lives in Calis and visits Spain and has friends in Spain, Spain is undoubtedly cheaper for a holiday from UK than Turkey. A bottle of distinctly average wine costs around 25TL in a restaurant in Turkey - in Spain it is free. Spirits in a bar in Turkey actually cost more than a pub in UK, let alone Spain.The only drink cheaper in Turkey is beer which is hardly surprising because ,let's be honest, would you really drink Efes if you had a choice!
In addition to drink it is also cheaper to eat out in Spain with a far greater variety.
Spain may be more expensive as a country to live in but for a holiday it is far cheaper.
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strange i bought a bottle of Dikmen red 7.5 ytl only last week.
Tony
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I find an interesting logic in relation to risk and cost in the article Webbstar cited. People might be deterred from going to Turkey (bird flu) or Egypt (bombs) unless the price comes down. So people wouldn't want to pay £1000 and be blown up, but for £800 they might consider it. Since you are a former Financial Advisor, Stoop, you will be able to understand this. Just seems silly to me.
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I'm talking about distinctly average wine in a restaurant not REAL rough stuff like Dikmen. Was that a supermarket price or restaurant price?
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I wish I had kept the paper I read the original article from.
I do know that they said a meal in Turkey was £13 and the same
meal in Spain was £9. That wine was dearer in Turkey as was
a short and a pint of beer.Having read a post on here that
some resturants are now charging for bread it makes you wonder
if it is just greed on the part of these resturants/bars.I know
we are just talking holidays here and not actually living
in Turkey but reddevils post just backs up what the article said.
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Whereabouts in Spain is it cheaper than Turkey?
and how do they serve the same meal?
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We went to the Canaries at Christmas - just because we couldn't get a flight out to Turkey.
We were shocked at the way prices have gone up there since we were last there 3 years ago.
Not talking drink prices as we rarely imbibe but cost of food.
Found a wonderful Chinese restaurant that did a buffet at a reasonable cost but elsewhere was horrendous prices. Even buying in food & cooking your own was expensive. Selection was horrible, the fruit & veg were well dead, even for ones produced on the Island.
You can keep Spain & the Canaries where they tolerate the Brits.
Give me Turkey anyday.
Linda
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Tinx.The article never named a specific place in
Spain or a specific resturant. The article was
comparing the cost of holidays abroad for uk
holiday makers. I dont think it was meant to be
biased in anyway towards or against any particular
country.Why should it be. :)
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Linda 3 years ago I could have bought a 3 bed property
a couple of roads away for £70k If I wanted to buy it
now it would cost me £190k. I could have gone out and had
a nice meal over here for £15 now its £25. I could have
got the weekly shopping for £50 now its £70.How can you
possibly compare prices 3yrs ago to what they are now.
Of course they are going to be more expensive now.What
this topic is about is comparing the cost of holidays in
2006.not comparing 2006 holidays to those in 2003. :)
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Webster,
Correction - what this topic is about is the effect of the exchange rate on the cost of things in Turkey. Nobody mentioned Spain until you brought it up.
Stoop
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Spain is definitely cheaper especially booze.House wine about £4 a bottle.Eating out similar if not cheaper.A few years ago the Spanish put all the prices up and peolple went elsewhere, I hope the Turkish don't do the same. We paid 25 lira for a bottle of Kavak in the fish market.I would class that as house wine. I also think they have overpriced the aqua park. Three years ago it use to be half price if you went in after 4.00, now there is hardly any difference.I still love Calis.
Janet
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Webster
I was not really comparing prices from 3 years ago. I found Spanish costs far more than in Turkey for food etc. I was just surprised at how much things had gone up in the 3 yesrs since we visited.
I don't see how anyone can say Spain is cheaper than Turkey unless they are just looking to drink themselves to death. In that case it probably is cheaper.
If your idea of a good holiday is to be permanently sloshed then go so Spain. PLEASE!
The exchange rate will eventually work its way through to everyday things but at the moment will just affect newly bought in imports - which will have risen by around 20% or more.
I found when we visited Turkey in the times of 100% inflation that most things were priced in ££'s or hard currencies in the tourist markets. Shops prices changed all the time so they didn't mark prices on anything. No-one wanted to take Lira they all wanted hard currency. At one time every time we sat down we were approached with locals wanting to change money for us - at 10% more than we could get in the banks.
I hope the currency stabalises fast as it's Ok for us Brits who have access to currency exchanges & can keep our cash in ££'s but it's the ordinary Turkish person who will be most hard hit - what point saving any money as it will be devalued to half its value if times of 100% currency fluctuations reoccur.
Linda
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I have found in comparison that spain can be more
expensive than Turkey, I go to Lanzarote in the winter months
for the odd week and book private apts I find they are more expensive on a weekly basis by up to £75 then there are the
flights which can be up to £50- £75 more and the cost of food is more
expensive, drinks may be a little cheaper there but that's not an important factor when I'm on holiday although I do like a drink but not in excess,I go because I like the area I stay in and for the warmer weather in the winter.
I do love Turkey with a passion and the culture,people,place,food far out weigh the cost of my holidays there, so my personal choice is Turkey every time in camparison to Spain.
At the end of the day it is an individual choice and what people want from a holiday, and best to get all the information before booking ie. prices of food and drinks etc......and simply put.... if a holiday is too expensive then don't go there! :)
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Drinks may be cheaper in Spain but the cost of going on a package holiday is more than to Turkey and the price of property is about double. To me there is no comparison between the two countries - Turkey wins every time for the beauty, the culture and the people. Cost is not always the first consideration when people choose a holiday.
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this year all holiday/resturants/hotel companies will have a bad year which may /has effect prices, I have been offered 1 week s/c in dalaman for £155.00 incl flights the reason World Cup,the knock on will be bad for economies which rely on tourist's.
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there is nothing wrong with efes,i drive miles in the uk to stock up on the stuff!the spiruts are only expensive in turkey if you drink imported like jack daniels,bacardi,etc.the local spirits are far cheaper
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Anyway - back on topic (please no more Spain). So it seems the Lira is dropping in value and as yet we are not being hit with massive price hikes to compensate. I would imagine, from our point of view, it will be better to change £ in Turkey and pay for everyting in YTL - unless, of course, better deals are offered for purchasing goods in £.
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I shall continue to get my money from ATMs with my Nationwide card as the exchange rate has always been good in the past; with the value of the YTL falling against the £, that should be benificial to me.
Pete
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Just seen 289 ytl to the £! Will it get to 300 ytl by the time I get there in two weeks??
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hope so stoop my tickets have just arrived for our trip in 2 weeks
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2.89? where is that stoop??? UK?
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AOL money - latest exchange rates (not what you call tourist rates as in banks etc)
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Just returned from Calis and we were getting 2.70 for the first few days and by the time we left most places were offering 2.89. I would think that it is much better to pay in ytl than sterling now. Prices have not really gone up that much from last year and we certainly saw the difference in the smaller numbers of tourists, which at the moment means that there is more competition from local restaurants, who are all trying to get you inside to eat! Along the "front" at Calis, Efes ranged from 2.5 - 3 lira for a large bottle.
Quite a few of the restaurants were offering 10% or "set menu" prices, just to get your custom.
We were in a jewellers yesterday in Fethiye, that we have used quite a lot over recent years and bought some pieces of jewellery. We got an exchange rate of 2.89, then half an hour later returned there to buy something else that had taken our eye and the rate had gone up to 2.94 !!!!
I don't think it will be long before it reaches 3 lira at this rate.
Happy shopping everyone
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Have you seen the cost of fuel over here now? Diesel is now 2.32 a litre and unleaded is 3.12. One negative aspect of the rise in exchange rates!!
WW
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quote:
Originally posted by stoop
Just seen 289 ytl to the £! Will it get to 300 ytl by the time I get there in two weeks??
NO. It`ll be lower.
Crabbit
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how can you be so shure?
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Crabbit - that's why I've asked our partners to pay all the bills next week!!! Not taking any chances.
Rate dropped to 2.84 today. Could be a blip though.
Stoop
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i got 2,78 at garanti bank for £ yesterday
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Hi just got back from calis this a.m. yesterday friday 280 on calis sea front from the shop that lays back .also lge draught efes in the
big bar on the corner opp seril hotel end of beach the one with big pool table 2ytl hows that then and pool table free.
Lance.:D 8)
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Aye Lance I would have been tempted to stay mate.
Tony
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please excuse me for being thick, but is it not the case now that if you bring turkish into the country now ,you are onto a loser
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quote:
Originally posted by wickwilly
Have you seen the cost of fuel over here now? Diesel is now 2.32 a litre and unleaded is 3.12. One negative aspect of the rise in exchange rates!!
WW
I think it's the other way round. I've read that worries over energy prices and a general sense of unrest over EU negotiations, coupled with some uncertainty over the appointment of the new Central Bank chief, and concern over the current account defecit are responsible for this movement. Also on the news wires, you'll find that this movement is, apparently, not unexpected with analysts having stated that the lira was overvalued against the major currencies. However, this is all second hand information and markets are not rational things.
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Brummy - corect! Do not change your sterling into YTL until you need to. Wait 'till you get to Calis and just take enough to get you over the first day or so. If you bring YTL back to the UK you are on an even bigger loser - best to keep it untill you go out again.
Stoop
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Stoop, I bought six lira back with me, what are you saying?
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quote:
Originally posted by tinkerman
Stoop, I bought six lira back with me, what are you saying?
Fool. :D
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for a minute I thought he was calling me a big loser :-\
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Tinx - no - your a MASSIVE LOSER!! lol
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Hey tony i forgot to say im going back next sunday for another week
Lance:D[:o)]
quote:
Originally posted by tony
Aye Lance I would have been tempted to stay mate.
Tony
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quote:
Originally posted by stoop
Tinx - no - your a MASSIVE LOSER!! lol
Stoop
With hair like you had, you have the gall to take the p*ss out of Tinx !!!!. :D
Crabbit
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Here we go again.Ganng up time again just because my
mate Stoop called Tinx a loser when it should be loooser.
Its not Stoops fault his parents were poor and could'nt
afford to get his hair cut.Leave him alone because when
I take over the mods job when he is away in a couple of
weeks your wish you were nicer to him, So there. :)
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you have to be illiterate to be a moderator,
You're obviously confused
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`its good for me if i draw 200lira from the atm in now costs 69.50 gbp rather than 83.50 gbp, a couple of weeks ago.. thats a big difference!!
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dont forget we had £ s when the price was low 2.20 was the worse it had ever been in turkey,when we first came we were getting 2.70
doll
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so for those of you living in Turkey who have Sterling accounts i.e. Nationwide Flex etc, are you drawing Lira against the sterling account and getting the going Lira rate in Turkey? Or do these accounts allow you to draw Stirling and then you change it?
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ur getting lira at the going rate in turkey with nationwide
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quote:
Originally posted by Crabbit
quote:
Originally posted by stoop
Tinx - no - your a MASSIVE LOSER!! lol
Stoop
With hair like you had, you have the gall to take the p*ss out of Tinx !!!!. :D
Crabbit
Crabbit - I'd rather have that hair than the hair I have now!!!
Tinx - I don't really think you are a loser :)
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is this hair exchange rate??
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Just changed a lot of £ into YTL at Isbank today. Were informed by the lady at the bank that the rate is due to fall by Friday!!
Re Nationwide - so glad I have a Flex account as I have saved a fortune as I use my bank card a lot since I moved out here. Also they give you the UK bank exchange rate on the day the transaction appears in your account - usually the next day. I dont think I have ever lost out to be honest. I drew out 100 ytl on saturday and have been charged £35 which is approx 2.8 ylt to the £. Cant complain!!
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Yeah the Lira's still 2.8 ytl and as i drove past Kings Heath yesterday it was showing at 2.7 ytl. So good at the moment!
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2.94 to the £ this minute!! Not long now before it hits 3ytl to the pound.
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Now what t**t said it would go to 3YTL to the £ ????????
Shows how much they know.
Dippz :)
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Mmmm... now let me thinks
Hello Dips:D
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I recieved 2.84 4 days ago, go to a website called currency exchange, no commision, delivered to your door next day, cant beat it.
Dycedon
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Sorry folks website is currency express not exchange.
Dycedon
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Just read an article in financial times all about Turkish economy and interest rates
http://news.ft.com/cms/s/63906b2a-f4b9-11da-86f6-0000779e2340.html
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Very interesting - at least those investing in YTL might get a better rate from now on. We'll see if it stops the fall in the value of YTL against the £ though. 2.93 ytl to the £ at lunchtime today.
Stoop
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I predict a fall to £ = somewhere between 2.7 to 2.8 tomorrow.
Crabbit
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I reckon it will stop at 2.88 tomorrow!!
WW
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you were wrong before crabbit i hope ur wrong again.!!!what odds will you give me for it reaching 3???
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Fair enough, i forgot to say "Turkish time"
Turkey's central bank raised interest rates by 1.75% to 15 per cent after the Turkish financial markets had closed
The exchange rate fell today to £ = 2.86 YTL.
Expect a bigger fall tomorrow.
Crabbit
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so your not giving me odds on 3 lol!!
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ok Stuart.
I`ll give you evens that it won`t reach 3 by 21st June.
The loser donates £10 to Starfish.
Crabbit
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i dont understand the whole financial market thing, but what do you guys reckon its gonna be by end of june time, is it expected to fall dramatically or stay above 2.5???
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It fell again today to 2.8387
Crabbit
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Crabbit, The forum bookie :)
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The experts are claiming that the money may drop to 2.75 but remain there until the end of the summer at least.
WW
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It will peak at 3ytl to the pound in the next 4 weeks but will end at 2.75 for the rest of the year. I'll take you up on the starfish project dave . We have met as you wandered past najis on your way to another abortive fishing trip lol
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nice though about the starfish project...but evens?
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got your tenner ready mr crabbit??getting near 3 lol
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As uk and us,japan stocks fall through the floor and mr king wants to raise interest rates, and the government are unable to control public sector finances,I reckon currentcy markets last thing to worry about,as you have little or no control,I suggest opening another can of beer and watch Brasil do their thing.(friend of Nero but not on the fiddle) ;)
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Figures today show UK high street mini-boom in May that some experts are calling the "World Cup feel good factor" (people buying enormous TV screens apparently). Also inflation has risen to a mighty 2.2% when the target is 2.0% (dream on Turkey). So I reckon this will ensure the Bank of England raises interest rates to 4.75% on the first Thursday in July. This will nudge the pound even stronger, so it will easily float above 3TRL just in time for me to jump on my plane on the second Thursday in July, and have loads of extra money to spend over there. Hooray!!!
Selfish? I guess so, but if other people thought this way then perhaps Turkey wouldn't be as empty of tourists as it seems to be.
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Garanti Bank exchange rate today at 17.52 (Turkish time)
1 GBP = 3.0019 TRY
Just in time for Crabbit to lose his bet!
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crabbit i understand starfish are going to hold some kind of reception party for your donation..lol.
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How unlucky can i get ?
One day away and it cost me £10.
I will be donating my £10 as soon as Mr Scunner & Family have returned from their holiday in Belek.
Crabbit.
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well done old boy!!
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try www.bigpara.com for the exchange rate i have found I get pretty mutch the same rate in the the Financ bank. i have just looked and it is 3.055 to the £ ausgal
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Hope it stays like this till we're over in a couple of weeks
Anne
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i hope it doesn`t.
I want them to raise interest rates to try and bring the exchange rate down.
Crabbit. (selfish)
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It hit 3.10 this afternoon.
WW
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Dave
Raising interest rates is NOT the answer. Years ago interest rates were 60-80% a few times I went over.
GREAT NOT - as inflation meant the Lira was devaluing around 100% a year - therefore your savings were eroding not growing. Headline rates looked great but lots of ordinary people + many businesses lost big-time. Hopefully this government won't try & use interest rates like previous ones have - they should have learnt by now that it doesn't work.
You really should try & have a serious talk with Dippey. Our interest rates of around 5% or less don't look appealing but our currency is pretty stable. I can't remember a time when it devalued around 25% in under 2 months as has just happened in Turkey.
The Turkish people are well aware of what can happen & very wary of placing too much money in a Lira account. I suspect that now many Turkish people if they have savings are holding their savings in Euros, Pounds or Dollars if they get the chance. Ask them!
Linda
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Christ I hope the Lira does'nt keep rising! I can't bloody afford it!!
Living out here with only Lira, and all the helpful local businesse's pricing everthing in sterling for the benefit of tourist's, like hell!!, I am now paying approx 25% more for things than I was a couple of months ago.
Why on earth can't everthing here be priced in Lira,it is Turkey for heavens sake. This would benefit everyone, businesses would have a stable income, and tourists would benefit from the rate going up, which they don't at present. If you pay £10 sterling, you could have changed at 3.05 to the £ then you are still effectivly paying 30.50 Lira for something that only cost 23 lira a couple of months ago. It is bad enough all the prices rocketing when the tourist season starts, without the exchange rates kicking in the afterburner as well!!
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it was 3 when i left yesterday
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Well we've just been over for two weeks and paid for just about everything in Lira. Most of the bars and restaurants on the front are priced in Lira and even in the market on Tuesday I managed to spend mostly lira. The only people that seem to price in sterling are the estate agents and the management companies - so if you are buying property at the moment I would think there could be an option to knock the price down, especially if you are buying from a Turkish owner.
Stoop
ps - Crabbit lost some money:D:D:D
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what is the long term veiw about investing/ leaving cash(lira) in turkish bank , will interest rate make up for the fall in currentcy? if you leave sterling in bank does that attract interest growth?[|)]
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C! - see my previous posts on the subject & make your own mind up.
Also put a search in for historical exchange rates, go back as long as they'll let you - usually around 7 yrs & be prepared for a shock, then make your mind up.
It's only the last 3 years that have seen any real stability. Was inflation in Turkey that much lower than the UK? Is revaluation of the Lira well overdue. It's just been a minor adjustment this time - In December 2003 the rate was 2.80 to the £. Look beyond the last 3 years & decide.
Linda
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Hi im a bit confused if i put money into my Turkish bank accounts do i get better rate if i change it to tyl when paying in or just pay GBPin also what is the rate today.
Lance
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Lance
Rate today is about 2.97YTL to the £.
You really should do lots of homework before even thinking of investing in any foreign currency.
Don't just look at the headline interest rate.
Just read this from start to finish as a beginning then do LOTS more research.
Linda
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Hi Linda im not investing money as such just putting some in Turkish a/c in case i need it when out there sometime, there always seems to be something got to be bought and i haven't got enough on me dont really do investing like spending to much all the best .
Lance 8)
]
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The Turkish Central Bank began dollar sale auctions and YTL purchase auctions on Monday after the bank's Monetary Policy Committee met on Sunday to review interest policies and decided to implement a strong fiscal tightening, it said in a statement.
Reiterating its commitment to the floating exchange rate regime, the central bank said it would not shy away from direct foreign exchange market intervention if necessary.
"The central bank will not be insensitive to excessive volatility... and will provide foreign exchange liquidity through tenders when it sees unhealthy price levels," it said.
First auctions:
In the first auctions of this kind, the bank withdrew YTL 500 million ($294 million) from the market, the maximum amount which it had set under the new policy instrument.
It withdrew YTL 398 million in a tender with a one-week maturity at a maximum rate of 18.5 percent after receiving bids of YTL 1.199 billion.
In a second tender with a two-week maturity it withdrew YTL 102 million at a maximum rate of 18.9 percent after bids totaled YTL 357 million.
The new policy regulations said auctions would have one-week and two-week maturities and their volume would not exceed YTL 500 million. The first two will mature on July 3 and July 10.
The lira, which has lost almost a quarter of its value since the end of April, closed at 1.7085 on Friday.
Sunday's central bank hike took the overnight borrowing rate to 17.25% from 15% and the lending rate to 20.25%.
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They`ll lose money and auction some more.
Crabbit (buggering nobody`s post up)