Exchange rate

[13roman58]

Why are the exchange shops giving over the rates?

[Keithcaley]

Does this go any way to explain the disparity in exchange rates?

[d1cxx]

Yes, I was given 25, when it was 24ish 4 weeks ago.

[Brinsley]

TRNC exchange shops have always had the narrowest buy/sell rates from International bank mid-rates. I can only conjecture that the forthcoming Turkey Presidential elections next weekend, irrespective of the outcome will plunge the Lira into free fall, more so if Erdoğan is narrowly defeated and does a 'Trump' not accepting defeat as it was rigged bringing political turmoil! Hence the exchange shops are hoarding foreign currency offering more than the daily market rate.
My advice is to stock up on 'stuff' using Lira whilst only changing small amounts of £/$/€ on a daily basis before another inflation Lira looms on produce/products.

[Walesforever]

Just read the JP Morgan bank forecasting the lira falling sharply whatever result happens in the election. Lots of US investors pulling out in the run up