Time to book a holiday? Turkey’s lira slump explained

Last August, the lira was at an all-time low against the pound, making holidays in Turkey incredibly good value for money. Emma Coulthurst explained: "The weakness of the lira means you get a lot.

Eid Al Adha, the feast of sacrifice, is expected to begin on September 11, and with weekends on either side of the five-day holiday, it offers an opportunity to travel abroad. Increased tourism is.

TURKEY holidays are currently much cheaper for UK tourists as the lira hits a record low against the pound – making now the best time to book a trip to the hotspot. Lira has fallen by 34 per cent over the past year, so when you exchange your holiday money you’ll get even more than you would have done before – for 100 you will get 697 lira now, compared to just 460 last year (both before exchange fees).

It turned out way longer than we wanted, but we didn’t have the time to. Rick Steves book we stole from Adam and planned out how to go to the most popular places in Istanbul. We noticed the most.

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Book cheap holidays to Turunc and stay in apartments and basic hotels, or spend a little more to stake your place in one of the resort’s luxury hotels. Wherever you stay, you can make use of the small but perfectly formed beach and the eateries, shops and bars along the waterfront.

why is the lira slipping? Turkish economy has been in the doldrums for some time now, and it has worsened further due to a recent trigger. The country’s inflation rate touched 15.9 per cent in July.

The next day, the lira touched an all-time low of 4.98 lira for a US dollar. Two days later, the lira recorded its biggest weekly slump in almost a decade. The benchmark borsa istanbul 100 index fell the most since the foiled coup in 2016, with the selloff dragging price-to-estimated earnings valuations to the lowest in more than nine years.

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Plummeting Lira Defies Turkey’s Surprise Monetary Tightening (Bloomberg) — Turkey’s central bank announced a surprise tightening of monetary policy and moved to calm concern over a sudden drop in official reserves in a failed attempt to stem a slump in the lira.

Turkey Travel Guide. Don’t be a turkey – prepare for your holiday to the land of the Ottomans with our handy travel guide resources that cover everything from visas to the latest advisories, when to go and what to see as well as plenty of tips on currency, shopping, food and much more.

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