Countries that use the TRY
Currency Exchange Rates for Turkish Lira? Convert GBP to TRY at todays exchange rate. See historical and money transfer restrictions for Turkey.
TRY refers to the Turkish Lira, the currency used in Turkey.
Nicknames for Turkish Lira
The currency is also referred to as KaÄŸit, Mangir, Papel.
Name of Central Bank
The central bank of turkey is known as Central Bank of the Republic of Turkey.
The inflation rate is at 8%.
Spelling and Capitalization
The currency is spelt as Turkish Lira, short form TRY.
Use of the currency outside the country
The Turkish Lira is not a very strong currency and is mostly used domestically within the Republic of Turkey.
Exchanging currency in Turkey
At Change Bureaus one can convert their currency. The commission rate should not be higher than 3%. Many foreign exchange bureaus in town do not charge commission whereas commission at the airport is about 5%. The post office is a great place to change currency as they charge a lower rate on cheques. The best option is to take cash and your bank card to withdraw money from cashpoint machines.
Converting from GBP pounds to Turkish Lira
One can convert sterling pounds to Turkish Lira from the exchange bureaus at the rate of; 1 GBP = 4.63574 TRY.
What does GBP to Turkish Lira mean?
This refers to the value of one sterling pound in terms of the Turkish Lira, that is the exchange rate (1 GBP = 4.63574 TRY)
The sign for the Turkish Lira
The sign for the Turkish currency is, â‚º.
Is the Turkish Lira stable or undervalued and what is the cause?
The lira has fallen as much as 10% against the dollar since the start of 2017, making it one of the world's worst performing major currencies. This is on top of double-digit falls in the two preceding years. The currency has been largely unstable due a strong dollar.
What are the main currencies in use and why?
The US dollar, Sterling pound and the euro are the major trading currencies due to their stability and acceptability all over the world.
Currency Information on Turkish Lira - TRY – Turkish Lira - ₺
Banknotes in denominations of 5, 10, 20, 50, 100 and 200 liras are currently is circulation.
Coins are available in values of 1, 5, 10, 25 and 50 kurus, though the 1kr coins are not frequently used. There is also a 1 lira coin.
The Turkish lira subdivides into 100 kurus and was first introduced in 1923, in 1995, the lira was the world’s least valuable currency, and it was revalued in 2005, removing 6 zeros and creating a new currency.
I run a local delicatessen business in Surrey. Many of my artisan suppliers are based in Italy, Spain and France. We are always making payments to these suppliers and knowing we are getting the best rates is vitally important for us; our margins are tight and any savings are crucial for the success of our business.
Comment written by Artisan supplier based in Italy.
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