current exchange rate

nickw


Joined: 15/06/2010
Posts: 11

Message Posted:
13/07/2010 07:46

flying out to Esentepe tomorrow. Can anyone please advise current exchange rate you are getting in TRNC and any outlets decent to deal with. I am obviously looking to change Sterling to Lira. Thanks

catalkoykid


Joined: 15/02/2009
Posts: 1190

Message Posted:
13/07/2010 07:50

2.33 the opp the dome hotel girne

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
13/07/2010 07:52

The banks are offering around 2.32 TL to the pound. Most money exchanges will probably give you 2.33/2.34 at the moment.



Paul

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
13/07/2010 07:57

Once again, if you've got a Nationwide Debit Card you can use that to draw out Turkish Lira, paying no commission and getting a good rate of exchange... as you can do this out of office hours this is a very useful way of converting sterling to TL.



It also means no need to carry great wedges of holiday spending money through a UK airport where pick-pockets thrive... speaking as somebody who has been on the receiving end of this problem... (at Gatwick)

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
13/07/2010 08:01

I was flabbergasted at Manchester Airport last week, offering tl sell @ 2.13 and buy @ 2.54.



I knew there was a better rate here but this is daylight robbery.



So to reinforce, whatever the exchange rate, always do it here.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
13/07/2010 08:10

David it's even worse at Gatwick, 2.15 - 2.75 spread... outrageous usury.

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
13/07/2010 08:28

the Money Exchange opposite Lemar have the best rates.

catalkoykid


Joined: 15/02/2009
Posts: 1190

Message Posted:
13/07/2010 12:43

2.35 and rising

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
13/07/2010 13:46

Hi groucho msg 4,



I was interested in your post and I have done this on several occassions myself, but last week there was someone posting that you should always withdraw sterling and change at the money exchanges. The reason for this, is that if you withdraw YTL you will only get the UK exchange rate and not the better rate of the TRNC.

Can anyone else verify this for me please.





The butlers wife

keithcaley



Joined: 13/06/2008
Posts: 2521

Message Posted:
13/07/2010 13:55

msgs 5 & 6,

These are usually the places that state "No Commission" & also offer to bu back your unused currency and not charge commission - they don't need to at those rates!

msg 7,

Which Lemar? - which town, come to that? & how do they compare with the Exchange shop opposite the Dome Hotel who usually only have 2 or 2.5 Kuruş spread between buying and selling prices?

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
13/07/2010 22:25

Butler's wife mess9



I don't know why anyone would tell you that... it's far better to draw TL converted on the fly at the prevailing rate of exchange... if you draw out all your spending money in Sterling you then have to traipse about trying to find an exchange office that has a reasonable rate of exchange.. not always easy and convenient.



OK you could be lucky and find that sterling has gone up against the TL but then you'd get a better rate from the ATM with your Nationwide card too...



Some recent friends out here only got 2.1 TL for their £ before they came, that was rubbish. So the advice is to get your money out here... but using the Nationwide card also achieves this and you get a very good rate and their is no commission... So I think the advice to which you refer is not to do the exchange in the UK which you don't want to confuse with use of the Nationwide card which seems to be a very fair way of doing it.

Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
13/07/2010 22:33

Butlers wife. I asked about the exchange rate at the Nationwide in June and was told as you say I would get the Nationwide rate of the day which could be less than the rate in Turkey. We get sterling from HSBC booth near the Dome Taxi stand with Nationwide card and go across the road to the exchange place. If you get TL do don't know what rate you have got until you check your statement, it doesn't tell you on the machine or the receipt.

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
14/07/2010 00:40

msg. 10

Keith. There is a fairly new exchange opposite the Lemar in Karakum. The rates seem quite competitive & it is much easier for Eastsiders than traipsing into Girne & maybe paying to park.

Unless you are exchanging wads of money, it's not really worthwhile spending loads of time trying to find where you will get the best rate to the last kurus, IMO.

Over & over people come on to this board & ask if they should change money in the UK. Over & over they are told no. Change money in the TRNC. This has always been so & will never change & the examples on this thread show this.

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
14/07/2010 00:51

im told on good authotity that the casinos gives the best rates x

LaptaMike


Joined: 07/10/2009
Posts: 1679

Message Posted:
14/07/2010 01:15

HSBC Plus accounts are comission free too. I got a rate 2.3 about 3 weeks ago

smoggyjim


Joined: 21/07/2007
Posts: 214

Message Posted:
14/07/2010 05:12

Whre's the best palce to change money arouind Lapta.

kavenkoy


Joined: 10/04/2008
Posts: 1787

Message Posted:
14/07/2010 06:08

16



if you have a car jim ?

use the exchange in alsancak /lapta road near to green petrol station......5 or so shops on right towards the golden lady ,dvd shop ,car wash ,britain cafe etc etc



kav

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
14/07/2010 07:03

Well we've never had a poor rate from the Nationwide doing it here... it's always been comparable to the best possible local exchange rate. So we don't bother trying to beat the system any more... as it seems a waste of energy and anyway - it's too bloody hot!

keithcaley



Joined: 13/06/2008
Posts: 2521

Message Posted:
14/07/2010 09:48

scruff, msg 13,

Thanks for the info about the new exchange place.

I agree with your conclusions, and advice to tourists.

If you live here, and your income is in sterling, so that you need to change a large wad of Sterling into Lira every month, then it does pay to know which place consistently offers the best rate - without bothering to shop around each time, of course.

A few Kuruş difference in the rate can easily make 20 or 30 Lira (or more!) difference in the amount that you receive, if changing a 'wad'

The place opposite the Dome appears to have the smallest 'spread' between buying and selling - and thus the best rates - IMO, and if you're going into town anyway to pay the 'phone bill or whatever, it's no real effort.

I entirely agree that for tourists, possibly changing spending money on a daily basis, it's not worthwhile, & they'll be more than happy just getting a better rate than UK...

smoggyjim


Joined: 21/07/2007
Posts: 214

Message Posted:
14/07/2010 10:25

Kav

Thanks for the location I know the shops

Jim