Lost over 100 Euro by changing to worthless old Lira

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    • #833 Reply
      Joyce L.
      Guest

      We were on our way back to the hotel, when a man asked us if we wanted to change money at a good rate. He told us he could get us Turkish Lira at black market prices, which are 25% better than the official prices.
      My partner went into the hotel room to get a few extra Euros to change, and we then followed the man around the corner into an alley, where he took out his cash. We gave him 100 Euros, which would usually be converted into 290 Lira, but he would pay us 360 Lira for it.
      He gave us four bills of 100 Lira, and asked for 40 Lira as change. We checked the bills out and they looked genuine, with a watermark of Atatürk and everything. So we thought we had made a great deal, until we wanted to use these bills to pay for some souvenirs. The shop owner told us these were old Lira, which were worth less than 1 cent each.

    • #835 Reply
      Tourist-Scams
      Keymaster

      Thank you for your story, Joyce.
      The two versions of the Turkish Lira is indeed very confusing and something tourists should be aware of before traveling to Istanbul. Besides that, there’s always a risk in changing money with a stranger on the street instead of at an official money change agent.
      Read more at http://tourist-scams.com/istanbul/scam-money-change/

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