The official currency of Turkey has plummeted to new low rates against the United States dollar in recent weeks — and that could mean bargains for you if you decide to visit the country, as at the time this article was written, one United States dollar can buy 14.83 Turkish lira; while one Turkish lire can purchase $0.0675 or 6.75 United States cents.
Record Low Turkish Lira May Mean Potential Bargains For You
At one point, 14.70 Turkish lira were needed to trade for one United States dollar, as the central bank of the country is expected to lower interest rates for the fourth consecutive month tomorrow, Thursday, December 16, 2021.
Recep Tayyip Erdogan — who is the current president of Turkey — has declared an economic war of independence in an effort to reduce the costs of borrowing despite soaring inflation…
…but instead of following conventional market economics to do so — as central banks around the world are instead either raising rates or preparing to raise rates to combat consumer price jumps which caused by factors related to the current 2019 Novel Coronavirus pandemic — rates at the central bank in Turkey have already been lowered for three consecutive months.
This video — in which Turkey offers a warning on how bad the turmoil of inflation can get if it is left unchecked or not properly handled — was released by The Wall Street Journal.
For comparison purposes, one Turkish lire was exchanged for approximately 86 United States cents on Friday, December 28, 2007; while 1.17 in Turkish lira was all that was needed for one United States dollar on Sunday, January 4, 2008.
An Example of the Potential Bargains
Enough with the partial economics lesson for now: one random example of the potential bargains which can be enjoyed is a stay at the Hilton Garden Inn Ankara Gimat hotel property — check in on Saturday, January 8, 2022 for one night — for 331 Turkish lira, which is approximately $22.35 before taxes and fees are added…
…and the total cost for the stay is 358.07 Turkish lira, which is approximately $24.20 with all taxes and fees included.
If you need to fill up the fuel tank in a rental car in Turkey, gasoline costs 75.4 cents per liter — or $2.854 per gallon — on average as of Monday, December 13, 2021.
Final Boarding Call
To paraphrase what I wrote in this article pertaining to 6 Reasons Why You Should Visit Egypt Now on Saturday, June 6, 2015, your dollar — or whatever form of currency you use — will go further in Turkey due to the favorable exchange rate.
Although it may be paltry, your tourist dollars can help the Turkish economy get back on its feet, so to speak, as every little bit helps — meaning that the sooner you get to Turkey is the sooner you can help its economy grow…
…but also be wary of possible protests and demonstrations as the economy in Turkey worsens.
If you are thinking of visiting Turkey, this is the official updated policy which pertains to visiting Turkey during the current 2019 Novel Coronavirus pandemic as updated by the United States Embassy and Consulates in Turkey of the Department of State of the United States:
Starting December 6, 2021, all air travelers aged two and above, regardless of vaccination status or nationality, must show a negative COVID-19 test. Your negative test result must be from a COVID-19 viral test performed one calendar day before the day of your flight to the U.S. In other words, the testing window can be slightly more than 24 hours before your departure. If you recently recovered from COVID-19, you may instead travel with documentation of recovery from COVID-19 (i.e., your positive COVID-19 viral test result on a sample taken no more than 90 days before the flight’s departure from a foreign country, and a letter from a licensed healthcare provider or a public health official stating that you were cleared to travel).
Photograph ©2017 by Brian Cohen.
