Savvy Brits snap up Turkish Lira
21 Jan 2014
Sales of Turkish Lira have surged dramatically, suggesting Brits are making the most of the weak currency. Compared to only ten months ago the Pound is up by a huge 35%, which means an extra 451TRY (equivalent to £130!) for every £500 exchanged. The Pound's strength comes with improved optimism around the UK economy, most recently boosted by UK retail sales data showing the fastest annual growth in more than nine years. Turkey's bribery scandal has caused the Lira to suffer, which has also given Sterling an advantage.
David Swann of Travelex comments: "Brits are clearly savvy holidaymakers as we've seen sales of Turkish Lira rocket. With the troubles in Egypt last year, Brits could also be turning to Turkey for a safer alternative to the low-cost package holidays that Egypt offers."
Compared to ten months ago the Pound has also made significant gains against US Dollar: Brits exchanging £500 will receive an extra $66. Against the Euro the Pound is up five per cent equating to an extra €28 for every £500 exchanged.
Travelex's Travel Rate Tracker is a hassle free way to track the latest and historical rates on foreign currency. It can do the hard work for you by monitoring foreign exchange rates and sending you email alerts at your pre-selected date or rate threshold.
1Compares sales for UK home delivery from 01/01/2014 - 14/01/2014 with the same period in 2013
Travelex is the world's largest foreign exchange specialist with almost 1,500 stores and 1,250 ATMs across 27 countries, at key airport, seaport, rail and tourist locations. Over 40% of travellers - 1.7 billion passengers a year - pass through airports where Travelex operates including the major gateways at Amsterdam, Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, Paris, Sydney & Tokyo. Every hour, Travelex provides foreign currency to more than 2,000 customers.