TURKISH Lira has been in freefall just as UK tourists head to the country’s many resorts – meaning they’ll have more money to spend than last year.
Here is our guide to the current state of the market, and how to get the best price when you swap your cash.
What is the current Pound to Turkish lira exchange rate?
Because of Turkey’s currency crisis, the Pound is worth around 90 per cent more against the Turkish lira than a year ago.
This means that those changing £500 into lira will get over £230 more than they would have in August 2017.
As of September 4, £1 is worth 8.55 Turkish lira – and this favourable Pound to Lira exchange rate means Brits heading to places like Marmaris and Antalya will be able to buy a pint of beer for around £1.18.
The last time you could buy one costing that much in a UK pub was way back in 1990.
How to get the best holiday money exchange rate?
The Sun Online has spoken with Hannah Maundrell, editor-in-chief at money.co.uk and she gave this advice.
Don’t buy cash at the airport – you’ll always be able to beat the rate with a bit of forward planning.
Compare travel money companies online – Factor in delivery costs and choose the option that gives you the most cash to spend on holiday.
If you’ve left it until the last minute order online for airport collection so you get the best of both worlds.
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Use comparison tools – MoneySavingExpert’s TravelMoneyMax enables you to compare pick-up and pre-order rates.
Don’t pay for travel money with a credit card – it’s likely you’ll be charged a cash withdrawal fee which adds to the cost.
Top up a prepaid card to lock in your rate now – Choose your card and read the T&Cs carefully as some apply hefty fees. WeSwap, FairFX and Caxton FX are all worth checking out.
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