Turkey Hailed as Europe Alternative in Credit Crunch
According to currency expert Rishi Patel, head of foreign exchange trading at FairFX.com, Turkey is a good alternative to European destinations for British travelers who do not want their holidays to be affected by unfavourable exchange rates.
Mr. Patel commented that there is a 'general consensus' that sterling has not been as volatile against the Turkish Lira as it has been against the euro or the US Dollar. He suggested that this stability is a 'key factor' in the recent increase in orders for the Lira.
He went on to say that "A lot of people are generally saying that the Eurozone is a very expensive destination now adding "Turkey is the next best alternative".
According to recent figures released by M&S money the Turkish Lira was the third most popular foreign currency among Britons in the second quarter of 2009 behind the Euro and the US Dollar.
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News item created: 30.9.2009