Re: US currency vs. Euros

Sorry! I wasn't clear about what I want to know....here it is: Which currency would consistently buy me more New Turkish Liras or consistently at least have more value if buying local goods and services using either (US$ or Euros).
Hope that is more clear,
Cee

Of course the euro is always going to go further than the dollar in terms of value against the lira, but then it will cost you more to buy it. The euro is worth about 1.75 turkish liras and the dollar about 1.3 but if you're using them to purchase Turkish goods and services it doens't neccessarily get you further because, many times you'll have to pay for an added commision each time so the vendor can then change the foreign currency back into lira when they go to bank the money. So in the end you probably end up loosing uneccessary through paying a commision first when you change into dollars or euro and then another when the transaction is calculated back into lira. As the previous replys suggested, why not just buy direct from your Canadian dollar?

Of course the euro is always going to go further than the dollar in terms of value against the lira, but then it will cost you more to buy it. The euro is worth about 1.75 turkish liras and the dollar about 1.3 but if you're using them to purchase Turkish goods and services it doens't neccessarily get you further because, many times you'll have to pay for an added commision each time so the vendor can then change the foreign currency back into lira when they go to bank the money. So in the end you probably end up loosing uneccessary through paying a commision first when you change into dollars or euro and then another when the transaction is calculated back into lira. As the previous replys suggested, why not just buy lira direct from your Canadian dollar?

oops - sorry about that - problems with the internet connection!

Unless you have three piles of cash stored at home, one in US$, one in € and one in CAN$, and you have to choose which one of the piles to take, this question makes no sense to me. If you only have CAN$, you have to change them anyway and with every additional transaction you would lose money.

Best thing is to use ATMs.

Indeed - if you have an ATM or credit card, withdraw Turkish lira and use those. If you pay directly in foreign currency, the "exchange rate" the vendor gives you is never going to be good, so its always better to pay in TL.
If you're going way off the beaten track bring USD cash (since apprently the commission charged by your bank was lower for USD ??), otherwise Canadian dollars are fine in cities.

George

We were having the same dilemma, but finally we did exchange our CAN$ to US$. However, we are going to other countries like Iran & Pakistan, and we are not sure about CAN$ there. Last year we did not find a single bank in Mongolian Ulaanbaatar, which would take Canadian currency, and this is the capital city! So, I guess that this depends also on where exactly you are going in Turkey, since you may have troubles with CAN$ outside the major cities.

Yes, use an ATM machine, and don't bother (and waste your money) doing currency exchanges. It doesn't matter what currency you use, you will lose money each time you change money. Just take your ATM card and withdraw the local currency as you need it. I also usually have a $100 or so stash of emergency cash (in Euros or U.S. Dollars), bur very rarely use it.

Dave

The international exchange rates reflect the reality for major currencies. In other words - no difference! Do not however indulge in any double exchanges - e.g GBP to EUR to TKL. There is a buy/sell spread for all currencies which effectively ensures that the Bank/Exchange Bureau/Money Changer/Abdul the Carpetseller will come out on top at each exchange. So - the fewer - the better.