Aug 16 2018

While Turks stock up on dollars, Brits can’t get enough lira

Despite much higher prices, Turks have been continuing to buy dollars throughout the recent crisis, opposition newspaper Cumhuriyet said.

Dollar reserves within Turkey increased by $1.3 billion in the week up to August 10, Central Bank figures showed, with $1.1 billion of the increase attributable to institutions and companies.

Islamic banks alone hold $13 billion dollars in Turkey, Gazete Duvar wrote, although it is unclear how much they may have sold since Erdoğan’s call for Turks to sell dollars.

In Britain, however, bureaux de change are running out of lira as holidaymakers rush to benefit from better exchange rates, BBC Turkish said.

Travel agency Thomas Cook said that the number of Brits holidaying in Turkey was up by 63 percent in 2018.

http://www.cumhuriyet.com.tr/haber/turkiye/1057127/Erdogan__TL_ye_donun__dedi__dolar_mevduati_patladi.html