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Surge in demand for Turkish lira as UK holidaymakers eye unprecedented rates

The demand has almost tripled compared with the same period in 2017 as people are buying lira at unprecedented rates. Photo: AP

An ongoing diplomatic stand-off between Turkey and the US may have sent the lira spiralling into crisis, but this has turned into a bonanza for British holidaymakers.

UK holidaymakers could get 880 lira for £100 on Tuesday up from 680 lira on August 9. As people flock to the country to make the most of the cheap exchange, here's what your money can get you now :

UK holidaymakers could get 880 lira for £100. Credit: AP

While soaking up the sun, you could enjoy a mid-range bottle of wine for less than £5 or spend as little as £1 on a pint of beer.

If food is more your thing, a fast food meal comes in at under £2.50 or you could dine with a friend over a three-course meal for less than £25.

A trip to the cinema could help you beat the heat as Istanbul's Pelican Mall Shopping Center is offering tickets for 15 lira which comes in at £1.90.

Thomas Cook has reported a 63% increase in bookings to Turkey during 2018 and Antalya airport has overtaken Spain’s Palma de Mallorca as the company’s most served airport for UK customers. Credit: AP Photo/Lefteris Pitarakis

Post Office Travel Money have apologised as some branches struggled with the surge over the past week.

A spokesman for the firm said: “We currently have strong supplies of Turkish lira across the Post Office network, however a small number of branches may be running low on stock due to the unprecedented demand.

“We expect to replenish stocks over the next 24-36 hours to those branches with limited stock and apologise if any customers have experienced delays when purchasing currency.”

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Thomas Cook Money, which is supplied by Travelex, has also been running low on lira.

Managing director Anth Mooney said: “With the lira in high demand across our stores, we’re advising customers to put money on a pre-paid card which locks in the unprecedented rates now to spend on holiday later.”

Turkey’s currency crisis has been triggered by concerns over president Recep Tayyip Erdogan’s economic policies and a trade and diplomatic dispute with the United States.