Most banks and bureaux de change add on various margins to the British Pound to Turkish Lira exchange rate that customers are not aware of making it harder for you to compare exchange rates on offer. We have gone one step further. To offer you low-cost exchange rates on your travel money whilst giving you access to the live interbank exchange rate for GBP/TRY at the point of when you transact for complete transparency. Compare our currency exchange rates and see how much you could save.
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1 GBP = Real exchange rate
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*We capture the exchange rates being offered by airports and high street providers once a month and calculate what spread they are taking off the live interbank rate. We then compare that to what rates we are offering to calculate the savings you can make if you use us.
*Your potential saving has been calculated using our exchange rate and the most expensive provider's rate in the market at a given point in time.
Royal Mail will require a signature from someone in the property at the time of delivery
Pay via bank transfer or credit, debit cards. We can only dispatch Turkish Lira currency once we have received cleared funds
We shall email you a dispatch notification once your Turkish Lira currency is on its way to you and this mail will include your tracking details.
We use Royal Mail Special Delivery which is a fully insured and secure home delivery service
Most providers in the UK will quote the rate of exchange as a rate directly from the interbank rate or real exchange rate, therefore it will be displayed as £1 gets you x Turkish Lira. Therefore the higher the exchange rate, the more Turkish lira that you will receive.
Not only can they it work out more expensive, but most providers on the high street including bureau de change and airport operators do not always stock Turkish Lira in branch so its always sensible to obtain the best pound to lira rate with the lowest fees by ordering your travel money online.
Always check with your provider that they are giving you the best value. The Currency Club charges a lower fee with the more that you order.
Most providers include their margin within the rate of exchange. We think that at the point you transact, where you do not have reference to the interbank exchange rate can lead to significant variation within these margins being offered when buying currency. The Currency Club will always provide you with access to the real interbank exchange rate when you buy Turkish Lira and we show our offered exchange rate clearly so you can make an informed decision and compare accordingly.
The Turkish lira is the currency of Turkey and the independent state of the Turkish Republic of Northern Cyprus. In 1926, the Ministry of Finance introduced notes for the Republic of Turkey in denominations of 1, 5, 10, 50, 100, 500 and 1000 lira. These were the last notes printed with both French and Turkish text on them.
All notes and coins of Turkish Lira have portraits of Mustafa Kemal Ataturk from different points of his life since 1930s on the front side. The new Turkish lira was introduced on 1 January, 2005, replacing the previous lira which remained valid in circulation until the end of 2005 at a rate of 1 new lira = 1,000,000 old lira, a transition period for the removal of six zeroes from the Turkish lira currency. The older symbol for Turkish lira was YTL and posts the currency transition; the ISO (International Organization for Standardization) 4217 code for Turkish Lira is now "TRY".
From 1970, Turkey experienced chronic inflation and throughout the 1990s a series of hard, then soft pegs to the dollar operated as the value of the lira began to fall. The Guinness Book of Records ranked the lira as the world's least valuable currency in 1995 and 1996, and again in 1999 through 2004.
Turkish Lira Notes: 5, 10, 20, 50, 100 and 200
Kurus coins: 5, 10, 25 and 50
You can order up to £7500 worth of Turkish Lira but providers generally do not set a maximum limit. Any amount above £7500 would be delivered in separate packages on following days.
Like they say never say never, but online operators will always have lower overheads than the high street. Always make sure you compare the pound lira exchange rates wherever you decide to purchase your Turkish Lira as many providers will charge commission or hide their fees within the rate of exchange. The Currency Club will always give you the real exchange rate with our small fee shown separately.
The Turkish lira is the one of the currencies that we get asked about the most during the summer, and the one question that trumps the others, is "When is the best time to buy Turkish Lira?"
Firstly, no one has a crystal ball and the pound to Turkish Lira is extremely volatile. The exchange rate swings as much as a couple of percentage points every day.
One thing for sure is that over the years, Turkey has become one of the biggest destinations for tourism with its stunning beaches and fascinating history and culture.
Over the past few years, the GBP/TRY movements have been all the more significant due to ongoing political and economic conditions in Turkey. It was not too long ago in 2018 when Turkey's currency and debt crisis began. The Turkish lira plunged in value as the economy suffered from high inflation and rising costs of borrowing due to loan defaults. From the 1st February 2018 to the 1st August 2018, the pound to Turkish lira rate had fallen by as much as 71% over the period with highs hitting above 9 Turkish lira to the pound!
The Turkish lira began to recover towards the end of 2018 as the central bank of Turkey intervened with staged stimulus and increases in the base interest rate.
Just when we thought the pound to Turkish lira rate could not get any higher, it has reached all time highs once again in 2020. As of writing this piece, the rate is currently above 10.50 Turkish Liras to the pound. Could this be the perfect time to plan a holiday to Turkey?
This is a staggering difference for holiday makers and those transferring money to Turkey.
Although many companies provide forecasts and predictions, nobody knows the perfect time to buy the Turkish Lira. Many thought the best time was going to be in 2018 when the financial crisis was at its peak, but soon enough, the Covid Pandemic has hit the planet, and we are rising above the dizzy highs of where were before at the worst point in 2018. When it comes to travel, Turkey may be one of the best value destinations to visit in 2021. Only time will tell.