Kalkan Turkey Forum - EnjoyKalkan.com
Kalkan Discussion => Money & Finance => Topic started by: Cuddles on July 29, 2015, 09:13:45 AM
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As Bob or Jayne posted on the "Tummy Bug" thread, the exchange rate was up to 4.3 to the pound yesterday. This morning it has risen from it's overnight closing rate to 4.3264 which is the highest it has been, the previous high was 4.3136 TRY on 18 Jun 2015.
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Is it just my imagination or has the gap between the exchange rate in the the banks and the shops widened this year.
Over the last couple of weeks the difference between IS bank and the shops has been about 0.12 Lira, or 3 free beers each time you change £200.
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It's definitely not your imagination. For the past 2 -3 years the shops have been offering considerably less than the banks. And they do not alter their rates very quickly nowadays as the bank rate moves up.
By the way 4.3357 this morning.
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After hovering around the 4.32 - 4.34TL to the £ for the past week or so, it looks like the rate is moving up again, 4.398 tonight.
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4.42 this morning.
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what will it go too???as all Government meetings have come up with nothing, and now a nother Election
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Hi, it's been a few years since we have been to Kalkan and I was just wondering if you could give me some more information about using the bank to exchange money, which bank do you use and does the rate include commission etc or is that paid on top of the rate?
Many thanks
Matt
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Personally, I use the Işbank Atm and insert £20 notes (it only takes £20'S) up to the desired amount I want to change. It does take a negligible amount as commission, like 1 or 2TL on my usual amount of £200.
When I was out in May/June this year I found the rate to be slightly less than the pure inter-bank rate that it always used to be. I was also told that the rate of exchange was better in Deniz Bank, however, the queues in there make the lesser rate more acceptable.
Inter*bank rate ıs slightly down on this mornıngs hıgh of 4.4704 at 4.465.
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We also use Is Bank ATM Exchange - we found it was better than anything the shops could muster. That said, one day it wasn't working and we were invited into the bank to exchange by the security guard. In previous years we've been given the same rate as the ATM exchange with the nominal 1/2tl charge however this year we were told we couldn't get this rate as it's an ATM only thing. It was about the same as the shops in town so we didn't lose out but we did feel a bit cheated >:(
It's brilliant exchange rate at the moment. Two years ago it was a whole 2tl less to the £ :o
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Where is the Is Bank exchange ATM?
:)
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Going out of town toward the traffic lights on the D400, just up past Yali supermarket on the other side of the road. Sits on the corner before Nur patisserie.
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Thanks everyone
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It needs £20 notes in good condition, it throws back any it finds unacceptable, and I found putting about £260/£300 at a time was enough, too much at one time and it spits it out again. One day it wouldn't exchange the sterling but seemed to be giving money to people with cards. The problem was that the machine didn't have any coins in it and consequently couldn't give me the correct amount but could if you used your card when you asked for an exact amount of lira.
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yes that was the problem for us, Kalkan regular...it wont dish out the dosh if it doesnt have the right amount of coins....you'd think it would be kept topped up :-\
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Don`t want to make myself sound entirely foolish :P but are you saying that you take sterling with you to kalkan and feed that into the Atm?
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You can change sterling into TL or you can use a card to draw out TL(your card charges will apply) ;)
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yes, Bexinlove...the only ATM that I put money into to be fair :) We take sterling with us as invariably the rate is better in Kalkan than anything you can get at home in the UK. The ATM at IS Bank is the only one that has the sterling cash exchange facility - I think. You get the option to chose at the start of the transaction. As BL says you can use your debit card to withdraw sterling but, from memory, not at this particular machine. I could be wrong...maybe just didn't accept VISA. There are plenty of other ATM's in this area.
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BLsaid you can use your card to draw out TL.......I don't want sterling I'm trying to get rid of it >:D :P
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If you have the right card(s) {see Martin Lewis travel money advice or search this forum for previous discussions} you can take sterling out of many ATMs (Isbank or HSBC best, no ATM charge) then change it in banks or £20 notes at Isbank machine as K4E said. I've taken sterling out at Is then fed it back in to exchange. HSBC (over the road to Isbank) gives you £50.
Saves you carrying large amount of sterling over with you. Though you can do that as changing it there always better exchange rate.
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Got 4.54 at Moneycorp this morning (pre order collect tomorrow)......not bad for a UK exchange rate ;)
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Saving up for next year already....very wise for a Lizard ;D ;D
As they say..."Get it whilst its hot.." wont stay at this rate forever.
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I believe the rate will continue on it's upward trend for some time to come. Political uncertainty, increasing violence and a suffering economy are creating a perfect storm for the currency to become weaker. The central bank hasn't raised rates either so if could be worth holding on to last minute before exchanging (I'm also sure prices will rise in line so we won't get to benefit as we should)
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Ha Ha..your old lizard buys some each month..that way I don't exchange my money for the latest gadgets which I am a sucker for ::) ..(Mrs L does the same so she doesn't convert her holiday money into Bags and Clothes till Kalkan time!!)..as Chickengeorge says expect things to creep up..but will they creep back if it slides??? errrrr?