Exchange Rate Dropping…. Thoughts?

[Tiberius]

I see what you are saying but businesses need to make money.

If the Lira gets close to 4 to the £ again and they charge say for example 40tl for a fillet steak that will only be £10.

If the rate drops to 3 to the £ that makes the same steak £13 - which isn't a huge amount & certainly not expensive.

I also understand businesses have been known to change their prices throughout the season.

8tl for an Efes seems ok to me.

Thats absolutely fine if a fillet steak was say for example 36tl last season but has risen to 40tl this season due to general price rise/inflation/tax rises/cost of living & goods etc…. as stated in prior posts you expect and accept to pay that and any fluctuation in the exchange rate you just take the hit as that's what it costs.

But…... if it's risen to say 46 or even 50tl (hypothetical figures by the way as I don't know what prices are) on the premise that people are getting more lira for their money so... "we'll just have a bit more of it thank you for no extra value" … then that is wrong and over inflates the resort. An initial extra £3 due to general inflation might not be a lot on one meal but for say a family of four over two weeks that could be an extra £30 per day, £400 over the fortnight, which you'd obviously budget for and accept, but if that £3 then became £6 for no other reason than your getting more lira for your £ (I hope you get where I'm coming from here).…. 1 lira is still worth 1 lira to the Turkish no matter what exchange rate you got.

Going back to my previous example (hypothetical), the polish/dutch/french/whoever get a cracking exchange rate against the £ so JD Wetherspoons put their prices up by 30% above there already increased prices (due to inflation/weak pound) in areas of tourism….. wouldn't happen, and wouldn't be stood for, so the point of businesses need to make money isn't a valid one based on that in my honest opinion as they're already making money.

Again the above is just my opinion, we don't even know if this will happen. All i'm saying is I just can't understand how people find it acceptable if it does……. However I suppose we'd have to accept it as you've no choice once your there

[MrT]

Prices will go up probably a little more than inflation because they will have to recoup monies lost because of the Bank interest rates
What we all have to remember is, if they charge too little they lose money, if they charge too much they lose holiday makers. ( The lot cheaper drinks in spain is calling to all who use this as a criteria). Something the Turks will need to consider carefully.

[daisysun]

1 lira is still worth 1 lira to the Turkish no matter what exchange rate you got.

That is exactly what i was thinking and why i wouldn't be able to understand it if that happened. Otherwise its pointless checking the exchange rate as to us it will make no difference what so ever as we will not benefit at all?? wow this hasd me confused lol

[MrT]

I will not expect to pay any more than 30/32 in Vinces for a Tournado Rosssini, Lovely

[markglasgow]

All for businesses making sure they stay trading, however when I visit in June and find that non-alcohol prices have increased in the resort by 20% on last year then I would sorely have to reconsider returning to Icmeler.

The cost of my accommodation has increased substantially on last year and I can expect that due to the exchange rate but no real reason for food, wages and general business costs to be affected by the change in exchange rate.

I would like to think that the favourable exchange rate will increase visitor numbers this year. An excellent opportunity to showcase the resort and encourage repeat business. Lets hope the good folks of Icmeler do the right thing this season and keep their customers both old and new on side with realistic pricing.

[Macca]

Have noticed that the exchange rate in the Euro change shop has risen again to 3.86 in Warrington yesterday, good time to buy!

[blondie]

Have noticed that the exchange rate in the Euro change shop has risen again to 3.86 in Warrington yesterday, good time to buy!

Is that not the buyback rate rather than the rate they're selling it for? According to their website, they're only offering 3.42 today...

[chezza100]

I think prices would have to massively increase for me to reconsider going to Icmeler.

Compared to other holiday destinations its considerabley cheaper than many places in the Euro zone - even if booking All Inclusive.

[Macca]

Have noticed that the exchange rate in the Euro change shop has risen again to 3.86 in Warrington yesterday, good time to buy!

Is that not the buyback rate rather than the rate they're selling it for? According to their website, they're only offering 3.42 today...

Hi Blondie, it was definitely the sell rate as I look out of interest every time I go past.

[blondie]

If that's the case, I'd have been snapping some up because it's way higher than anyone else seems to be offering right now...

[joseph1946]

I have had an email from Eurochange this morning and the Lira is 3.40,i would run to Warrington from Haydock on my hands and knees if it was 3.86.

[geordie1970]

...., just wish I had the money to buy earlier in the year the way it's going

[Chris221273]

Can't think the rate was 3.86 when it was only 3.50 in resort!!!

[mansy]

It's a shame it's dropping, feel for anyone who missed out when it was high. But, it's inevitable, rates fluctuate. I'm sure we will all still have a great holiday regardless.
In today's paper the rate is showing as.....3.16 !!

[JT]

3.50 in resort

[mansy]

Looking back to previous years holidays & rates 3.50 is still good.

[hagarg]

dawson and sanderson was 3.40 on friday the forex interbank rate 3.53

[geordie1970]

3.45 best I can find online with 'Travel Premier' for over £700 or 'Travelex' @ 3.44 for over £100

Be getting some for our spends over the next 2 weeks, but is it best to now wait til we're in the Resort and change monies? ... Is anyone over there to keep us updated please? ... Cheers