Loading...

Home pages - full list (A-Z)

GBP/TRY - Convert Compare Save

British Pound Sterling to Turkish Lira exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

This resource page for the British Pound Sterling to Turkish Lira exchange rate, has news, forecasts and GBP to TRY comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

GBP/TRY Exchange Rates - How to Compare & Save

Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for GBP/TRY International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
Foreign Transfer ProvidersReceive TRY(₺)Exchange RateFee GBPTotal CostDeal Links
OFX logo
36,811 TRY
Best Overall
7.3622£0^0.49%
HSBC logo
36,038 TRY
773 TRY
7.2185£7.52.58%
Natwest Bank logo
35,837 TRY
974 TRY
7.189153.12%
Banks - Average Rate
Lloyds TSB logo Santander logo Citibank logo Natwest Bank logo HSBC logo
35,676 TRY
1,135 TRY
7.1565153.55%
Citibank International Money Transfers
Citibank logo
35,675 TRY
1,136 TRY
7.1521123.56%
Santander International Money Transfers
Santander logo
35,471 TRY
1,340 TRY
7.1226204.11%
Lloyds TSB logo
35,360 TRY
1,451 TRY
7.1005204.41%
 
OFX: Foreign Transfer GBP→TRY
GBP amount:£5,000 GBP
Fee:£0^ - No fees for BestExchangeRates users (normally 7GBP for smaller transfers)
Exchange Rate:7.3622 (0.49% from mid-rate)
TRY amount:36,811 TRY
Total Cost:0.49%
Time:
Rate Fetched: Mon Jun 17 2019 06:11:00 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer GBP→TRY
GBP amount:£5,000 GBP
Fee:£7.5 GBP (.15%)
Exchange Rate:7.2185 (2.43% from mid-rate)
TRY amount:36,038 TRY
Total Cost:2.58%
Difference:
773 TRY less than using OFX
Time:8:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Natwest Bank logoNatwest Bank

Natwest Bank: Foreign Transfer GBP→TRY
GBP amount:£5,000 GBP
Fee:15
Exchange Rate:7.1890 (2.83% from mid-rate)
TRY amount:35,837 TRY
Total Cost:3.12%
Difference:
974 TRY less than using OFX
Time:8:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer GBP→TRY
GBP amount:£5,000 GBP
Fee:15
Exchange Rate:7.1005 (4.02% from mid-rate)
TRY amount:35,676 TRY
Total Cost:3.55%
Difference:
1,135 TRY less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Citibank logoCitibank

Citibank: Foreign Transfer GBP→TRY
GBP amount:£5,000 GBP
Fee:12
Exchange Rate:7.1521 (3.33% from mid-rate)
TRY amount:35,675 TRY
Total Cost:3.56%
Difference:
1,136 TRY less than using OFX
Time:8:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Santander logoSantander

Santander: Foreign Transfer GBP→TRY
GBP amount:£5,000 GBP
Fee:20
Exchange Rate:7.1226 (3.73% from mid-rate)
TRY amount:35,471 TRY
Total Cost:4.11%
Difference:
1,340 TRY less than using OFX
Time:8:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2/5.0
Reviews:
 

Lloyds TSB logoLloyds TSB

Lloyds TSB: Foreign Transfer GBP→TRY
GBP amount:£5,000 GBP
Fee:20
Exchange Rate:7.1005 (4.02% from mid-rate)
TRY amount:35,360 TRY
Total Cost:4.41%
Difference:
1,451 TRY less than using OFX
Time:8:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 06/17/2019 - See full table

Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.

Travel Money ProvidersAmount TRY(₺)Exchange RateFee GBPTotal CostDeal Links
Citibank Foreign Currency
Citibank logo
6,962.97 TRY
Compare
7.0333£105.9%
Travelex Online UK logo
6,961.2 TRY
1.77 TRY
6.9612£0^5.92%
Banks - Average Rate
Lloyds TSB logo Santander logo Citibank logo Natwest Bank logo
6,901 TRY
62 TRY
6.9798£106.73%
Lloyds TSB logo
6,892.28 TRY
71 TRY
6.9619£106.85%
Santander Foreign Currency
Santander logo
6,892.28 TRY
71 TRY
6.9619£106.85%
Natwest Bank logo
6,857.47 TRY
105 TRY
6.9619£157.32%
 

Citibank logoCitibank

Citibank: Travel Money GBP→TRY
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:7.0333 (4.95% from mid-rate)
TRY amount:6,962.97 TRY
Total Cost:5.9%
Time:8:30 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Travelex Online UK: Travel Money GBP→TRY
GBP amount:£1,000 GBP
Fee:£0 - No fees for Debit & Credit Cards
Exchange Rate:6.9612 (5.92% from mid-rate)
TRY amount:6,961.2 TRY
Total Cost:5.92%
Time:
Rate Fetched: Mon Jun 17 2019 06:30:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 

Banks - Average Rate

Travel Money GBP→TRY
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:6.9619 (5.91% from mid-rate)
TRY amount:6,901 TRY
Total Cost:6.73%
Currency Services:Branch
Delivery/Collect:-
 

Lloyds TSB logoLloyds TSB

Lloyds TSB: Travel Money GBP→TRY
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:6.9619 (5.91% from mid-rate)
TRY amount:6,892.28 TRY
Total Cost:6.85%
Time:8:30 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 

Santander logoSantander

Santander: Travel Money GBP→TRY
GBP amount:£1,000 GBP
Fee:£10 GBP (1%)
Exchange Rate:6.9619 (5.91% from mid-rate)
TRY amount:6,892.28 TRY
Total Cost:6.85%
Time:8:30 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
 

Natwest Bank logoNatwest Bank

Natwest Bank: Travel Money GBP→TRY
GBP amount:£1,000 GBP
Fee:£15 GBP (Minimum fee)
Exchange Rate:6.9619 (5.91% from mid-rate)
TRY amount:6,857.47 TRY
Total Cost:7.32%
Time:8:30 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 06/17/2019 - See full table

GBP to TRY interbank exchange rate = 7.403

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on GBP/TRY exchange rates

Foreign Transfers Travel Money

Foreign Transfers Travel Money

   

GBP and TRY in the Markets

When determining the best time to make a foreign exchange transaction, in this case the GBP vs TRY, you should pay attention to the recent market trends for both currencies.

 

British Pound Sterling (GBP)

The pound slipped to a 5-month low of 1.12 euros in June. Against the US dollar, it climbed away from May’s multi-month low of $1.256 to $1.27, but was still 5 percent lower than March's high of $1.338.

Brexit paralysis in the UK has led to declines in business investment and two months of economic contraction (for the months of March and April).

Pound valuations will continue to fluctuate based on No-deal, Deal and Remain probabilities. No-deal prospects may increase if, as is predicted by betting markets, ardent Brexiteer Boris Johnson becomes the UK’s next prime minister. However, some banks argue that Johnson’s appointment would make little difference to no-deal or remain probabilities.

The pound is receiving some support from the Bank of England which, surprisingly, is the only major central bank to be considering raising interest rates this year.

Read more in the article GBP Forecasts.

 

Turkish Lira (TRY)

In the second half of April, the lira slipped to its weakest level in 6 months against the dollar, at ₺5.83. It was 11.5 percent lower than its strongest level from January, but was 21.5 percent higher than its 2018 low (2018 was a crisis year for the lira).

In April, Turkey described a reform package aimed at lifting the economy out of recession. The package included billions injected into banks, reduced tax exemptions, lower corporate tax rates and a crackdown on the shadow economy; however, ratings agencies did not see many positives in the plans due to inadequate details.

TradingEconomics.com sees the lira quoted 5 percent weaker against the dollar in April 2020, at ₺6.14.

Why can't I just get the GBP/TRY market rate I see online or in the media?

The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the GBP / TRY was traded (bought or sold) in the international markets.

All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

We help you Compare & Save Money on Exchange Rates.

 

View all GBP Exchange Rates