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Currency Exchange - Changing your money in Turkey

21st July 2015

When exchanging your holiday money in Turkey, whether it be in Pound, USD or YEN - We all want the best rates, right? But what if you don't fully understand the exchange rates? And don't know where/who to get the best rates from?

First of all not many people are aware of this but according to Turkish law no. 1567 it is illegal to exchange money anywhere other than a bank or authorised Money Exchange Office in Turkey.

So if a shop keeper, hotel, or random person offers to exchange your currency, think again, and why risk it and exchange your money with an unauthorised vendor? After all unauthorised vendors will often NOT give you the appropriate exchange rates.

Here are our top tips for exchanging your money in Turkey:-


Things to note:

- Always use a Bank or Currency Exchange office (Bureau de change)
- Exchange Rates should always be displayed
- Good exchange offices will provide calculators (or leave them on the front desk) to allow you too calculate the exchange rates.
- A receipt is given (or you can request a receipt)
- Good exchange offices will use money counters
- Good exchange offices will be commission free (no charge to change your currency)


Things to remember:

- Always count your money and check you have been given the correct amount at the point of exchange
- Always check online prices and with banks to compare the best rates. www.xe.com/currencyconverter
- Often some exchange offices will offer a better exchange rate than the bank
- Tip: Only change a small amount of money in your home country, as your'll get a better exchange rate in Turkey
- Tip: You will get a better exchange rate in a town or city, (tourist resort or airports rates will often be less)



Now you can relax and exchange your money knowing your'll get the best rates, your only problem now is where to spend all that wonga! Happy Shopping!










 


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