US MONEY IN TURKEY???

Reply

May 25th, 2009, 11:54 AM
  #21
 
Join Date: Aug 2007
Posts: 23,365
But - as soon as they opened their economy it became insulting there too.

Hooey. For much of the immediate post-communism era, US Dollars were widely circulated in Russia. When the US switched the design of the $100 bill, much of the educational budget was actually spent in Russia, where there were significant numbers of $100 bills in circulation, being used as a primary source of savings for Russians, given the declining value of the ruble. Heck, even today, many Russian companies continue to report earnings in US Dollars.

This is so insulting to the people and government of Turkey that it is positively ridiculous. Talk about ugly Americans!! WHY would you think US dollars are legal tender in Turkey?

It was actually the Turkish Prime Minister that claimed their persistent inflation was a national shame. This has nothing to do with "Ugly Americans", it is about the fact that, in many developing countries, or those with unstable currencies, rational people will look to foreign currencies as a safe investment. This is no different from a US investor putting money into Euros or CHF.

If the decline in a currency is severe enough, this strategy can be seen even for relatively small amounts and at the most basic levels. And it is revisionist history to pretend that "this isn't the 1970's or the 1950's". In this decade, between 2001 and 2002, the US dollar rose 219% against the Turkish Lira in a single year. As recently as 2004, it was the least valuable currency unit in the world. It got so bad that the "old" Lira was replaced in 2005, with a new currency that lopped off a few zeroes. It was only at the beginning of THIS YEAR that they dropped the word "New" from in front of the official name of the currency. This is a currency that has only very recently achieved stability.

I agree, fully, that one should now tip in Lira in Turkey. Indeed, the appropriate answer to the question should have been something along the lines of: "though many prices are quoted in Euros or in multiple currencies, it is preferred that you tip in Lira." But let's not get all high and mighty because somebody asked a question like this, when there are any number of countries where the dollar is widely accepted, due to the very same economic circumstances that afflicted Turkey within the past 10 years.
travelgourmet is online now  
Reply With Quote
May 25th, 2009, 03:21 PM
  #22
 
Join Date: Jan 2003
Posts: 15,737
Oh, I think we CAN get high and mighty and say be just a little HUMBLE. If you are a visitor in someone's country, use their currency, respect their institutions, enjoy THEIR culture. YOu can quote all the stats you want--respect the country you are visiting, and most especially their currency. AND yes, there are exceptions, but TURKEY isn't one of them.
Gretchen is offline  
Reply With Quote
May 25th, 2009, 03:35 PM
  #23
 
Join Date: Jan 2003
Posts: 11,205
<>

<< Why do they ask for euros and not Turkish currency? Does this mean tipping in euros is acceptable? >>

Luisah - I used Euro as an example, hence the word "etc" following Euro to mean other currencies as well. In Turkey tip in Turkish Lira; in other countries tip in local currency.
adrienne is offline  
Reply With Quote
May 25th, 2009, 03:52 PM
  #24
 
Join Date: Aug 2007
Posts: 23,365
YOu can quote all the stats you want--respect the country you are visiting, and most especially their currency.

Now who is being naive? Honestly, you show so little concern for the actual history of the Turkish currency that it is offensive. Turkey, whether you like it or not, is a country with a volatile currency. There is nothing offensive about stating this historical fact.

Similarly, if a Cambodian asks me for "US$1" for a coke, that is what I will pay. What would you propose I do? Give them a depreciating currency? That sure seems generous. Note that the only person who has admitted to such an act qualified it as being a cheapskate.
travelgourmet is online now  
Reply With Quote
May 25th, 2009, 03:55 PM
  #25
 
Join Date: Aug 2007
Posts: 23,365
YOu can quote all the stats you want--respect the country you are visiting, and most especially their currency. AND yes, there are exceptions, but TURKEY isn't one of them.

For the period between 1/1/2009 and 2/1/2009, please provide a list of assets which would have out-performed a bet against the Turkish currency vs the US currency during that period.
travelgourmet is online now  
Reply With Quote
May 25th, 2009, 03:57 PM
  #26
 
Join Date: Aug 2007
Posts: 23,365
Sorry, should read between 1/1/2009 and 1/1/2010.
travelgourmet is online now  
Reply With Quote
May 25th, 2009, 05:09 PM
  #27
 
Join Date: Feb 2006
Posts: 24,061
"should read between 1/1/2009 and 1/1/2010" - sorry, my crystal ball's broken.
thursdaysd is online now  
Reply With Quote
May 25th, 2009, 05:53 PM
  #28
 
Join Date: Nov 2007
Posts: 444
That is just so rude. Would you accept Turkish money if you had a business in the States? Talk about "ugly American!"
letsgo39 is offline  
Reply With Quote
May 26th, 2009, 06:44 AM
  #29
 
Join Date: Nov 2006
Posts: 128
As a resident of Turkey for many years now I wanted to add my two cents worth..and I have replied to your question before on another forum

It's probably not recommended to tip in US dollars as these workers might have a hard time to get to a change office to convert to turkish liras..but they could get it exchanged from their place of employment especially if it is tourism related..

I think the majority of people here on the fourm think that local currency is better..however a tip is a tip and whom ever recieves it would be very greatful..and come on people ..Cash is Cash..which ever currency is being used..

BTW..dont tip in foriegn coins..like 1 or 2 euro coins as they can be harder to change even at the banks.

As you will be in Turkey it will be easy enough for you to change your US dollars at the dovis offices ( change offices ) or use the ATM's to draw out turkish liras..

However any buisness in Turkey that is in the travel, tourism or hospitally industry DOES accept the major foreign currenices of US dollars, Euros and even GBP.

and this also depends upon the destination with some areas in Turkey that favor the US dollar or Euro more than or other areas that favor GBP..

of course if you were in America you could not pay in Turkish liras however Turkey is a country where foreign currencies are widely used on a regular basis.

Even in the real-estate and automobile ( used cars ) sales many buyers or sellers use the US dollar or Euro in pricing....why because the stronger foreign currencies do not devaluate as quickly as the turkish lira..

Another thing to point out as a resident..there is a place in Istanbul where it is like the stock market..located on a street where the buying and selling of foreign exchange is a daily event for many turks..it is called Kapalı Çarşı Döviz - Kapalıçarşı'da döviz - Covered Bazaar in Currency exchange

it is just like the stock market with the men on their phones buying and selling US dollars or Euros..as the dollar or euro rises and falls.

even when I have run out of turkish liras and only had a few small US dollars on me one day..my local little corner store market accepted my US dollars in payment..
brenda66 is offline  
Reply With Quote
May 26th, 2009, 06:52 AM
  #30
 
Join Date: Nov 2006
Posts: 128
<<
it wont cost them anything..they will get the same rates at the local banks or change offices...

also many turks invest in foreign currencies and wait until the rate rises to change back to turkish liras..


<<<
very true..make sure the notes are not ripped, damaged or torn..

and I just remembered yesterday at the corner store..a very small boy with probably 2 US dollars in hand..paid for his Ruffles chips with a 1 US dollar and the clerk gave him change in liras..

and travelgourmet ..has summed it up very well..
brenda66 is offline  
Reply With Quote
May 28th, 2009, 09:08 AM
  #31
 
Join Date: Oct 2005
Posts: 62,583
"it wont cost them anything..they will get the same rates at the local banks or change offices..."

That is very misleading. Yes - the same 'rates' -- but there is a currency conversion fee. They cannot exchange currency for free. They will be lucky to get 85¢ worth of lira out of that $1 bill.
janisj is online now  
Reply With Quote
May 28th, 2009, 10:20 AM
  #32
 
Join Date: May 2009
Posts: 555
It's not a silly or insulting question at all. There are many countries whose currencies have been losing value to the dollar, euro, and other currencies for many years. Many people in those countries would be more than happy to get some currency other than their own. Some of the places we've travelled vendors have even requested dollars instead of their own currency.

So it's not a bad question. It would appear that Turkey isn't one of those countries right now, but the question still isn't in any way out of line.
Paul1950 is offline  
Reply With Quote
May 29th, 2009, 12:34 AM
  #33
 
Join Date: Nov 2006
Posts: 128
If you are selling 1 $ US dollar at the bank you will get a rate of 1.5457
If you are buying 1 $ US dollar at the bank you will buy at the rate of 1,5553

these are today's rates ( May 29th ) are from my bank here in Turkey

http://www.isbank.com.tr/

and you can see the rates on the upper right hand corner.

also you can look at these websites for the currect rate in Turkey.

http://ww.doviz.com/

http://piyasanet.hurriyet.com.tr/c/doviz_altin.asp

also any turk or tourist can go into any change office ( bank or dovis office ) and exchange any foreign currencies for any amount ..how big or small.
brenda66 is offline  
Reply With Quote
May 29th, 2009, 09:37 AM
  #34
 
Join Date: Oct 2005
Posts: 62,583
Brenda - you missed my point. Yes those are the "rates", but there will also be a currency transaction fee.
janisj is online now  
Reply With Quote
 



Thread Tools
Search this Thread
Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On


FODOR'S VIDEO

All times are GMT -8. The time now is 08:48 AM.