Lira Value vs GBP
Lira Value vs GBP : I often see people say that you are best changing your £s sterling to Lira well in advance. As the exchange rate is lower for the £ when the holiday season starts.
I couldn’t see how the Turkish Lira’s global currency movments would be impacted on by the start of the holiday season. It is a large part of the economy almost 11% and accounts for just over 8% of the workforce. Looking on XE.com you can see the trends from say. April before the season starts up until November when most of Oludeniz Shuts for the winter.
There is no distinct pattern if anything the Lira loses value against the £ in most seasons 2016 being the exception. Then again the £ crashed against every currency in that year.
If you like to gamble then get your £ changed before you go. If anyone changed their pounds to Liras in May 2016 for a holiday in October. Then you would have done very well. If you had done the same for 2013 and 2015 the opposite would be true.
I just think what will be will be. And take my money out from the ATM’s when Im over there. I do use a Halifax Clarity Credit card as there is no exchange fees on certain credit cards. So you end up getting just about the same rate as shown on XE which will beat any high street rate. Although its a credit card so I pay the balance as soon as I can usually on the day I return to the UK. The more savvy would pay it off the same day online. Only incurring 1 days interest. So for taking out say £500 the charge would only be 26p.