Only in TL please "Lutfen"

rockyroxstar


Joined: 16/12/2011
Posts: 26

Message Posted:
17/12/2011 17:00

Can anyone tell me why on earth wherevere I go shopping in Northen Cyprus I get quoted in sterling?, what's wrong with the Turkish Lera? its not a lame currency, or is it!!!!!!!???

I am aware that the value of the Lira fluctuate with the world financial market and many "cash on" the value of the $, £, and Euro, but then I want to pay in TL, and not Sterling, same as he natives.... I dont see Memet, Genkis, Hatica or other locals pay for their furniture in "hard currency" at high price!!!!, they are not even effected or and bothered with the so called "Globalisation and World Economy" ?!!!!!!!......................



Fair is Fair,....TL Lutfen same as the locals......

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
17/12/2011 17:06

I think in the past the locals could make a few bob out of sterling and thats why most would realise you are a brit and quote sterling.





I find dealing in NC is entertaining as you can quickly get a price for something in any currency you choose.

Tango1


Joined: 19/02/2011
Posts: 1151

Message Posted:
17/12/2011 17:39

I agree, you can play the game and offer to pay in which ever currency suits you. They are not going to turn a customer away. However, try and buy a house or car in TL and they will!!!!

rockyroxstar


Joined: 16/12/2011
Posts: 26

Message Posted:
17/12/2011 17:58

Well turtle,

I hate ot say it, I find it very frustrating and "extremely" annoying, their is no reason or need for such behavior. "In the past" is "a past" gone we are living in "NOW" and the TRNC the "country" wants to be recognised as part of Europe, yet this is not reflected in its "dealings" with its economy ...

Try to tell this to the "establishment proprioter", I guess the answer will be "a shrug of shoulder", huh....



I will not give up, and I must say .... The Turkish Lira is equally good as any currency, in fact I prefere using it in the TRNC "same as the natives", and pay same....



Fair is Fair, dont you agree with me

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
17/12/2011 18:33

well msg 1;

what you're sating is fair enough,however,how about excluding 'how much is that in stirling' bit out when you enquire about something?

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
17/12/2011 18:41

Rocky



If its your choice to buy or sell in TL then just say to whoever you are dealing with TL and thats that.



If you go around the Ledra St area (North Side) almost everything cafe's , shops etc are all priced in Euro because the business people in that area expect South visitors with pockets full of euro's nothing wrong with that.



Its simple really if someone is going to get better value for money from another currency then they are going to use that currency and why not ,.... TL is still the currency of NC but other currency is widely available you just have to adapt a bit of just insist on using TL





It doesn't matter really

tomsteel


Joined: 22/06/2009
Posts: 482

Message Posted:
17/12/2011 18:56

Try and pay for your visa on arrival in Turkey in TRY!

rockyroxstar


Joined: 16/12/2011
Posts: 26

Message Posted:
17/12/2011 19:11

Turtle,

well, uncle "Eshref" who is living next door visited a furniture shop and he was quoted in "TL" & at a low value, but when I stepped in the same shop and point to the same furniture the value turns into sterling? Walllaaaa!!!! why??? how?!!!!!!.... I dont mind paying a "bit" more but not tripple value plus the rest..... I dont begrudge the "proprioter" a fair profit, but......!!!!



Another point: in shops where items priced in £ sterling, could it be the owners do not wish to sell to the natives because they are poor and could never afford it??, or is it a game I wonder,....I Never checked price tags in any shop,.. I mean "front" of the price tag in sterling and the back in "local TL price"???....



I agree with you, good to barter over value of an item, in fact I consider it "healthy negotiation",... but one can not barter / negotiate on loss???... making a bit of profit is good but qouting high value and in £, $ or Euro is not acceptable



p.s. I like your smily

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
17/12/2011 19:20

I suppose NC is no different than anywhere else for ripping off "tourists" but its your choice to buy or tell him to stick it but you are right its not good.



I usually find that once familiar with the local currency and it sterling equivalent you can quickly work the price out and make a decision to buy or not.



Brits hate being ripped off and don't normally allow this to happen my dad has a saying,....

Fool me once shame on you.....Fool me twice shame on me

rockyroxstar


Joined: 16/12/2011
Posts: 26

Message Posted:
17/12/2011 19:24

Yorgozlu (message 5),

You are missing the point, it is important to have a fair deal,... living in the TRNC is wonderful but then and somehow I just find it confusing that shop owner insisting that I pay in £, $ or Euro and not in TL... the locals pay in TL, so why cant I do the same???

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
17/12/2011 19:25

We charge in Sterling basically because most people understand the price as many of our customers are Brits. We accept TL, and Euro as well so we offer people a choice. Most of our customer like that choice.

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
17/12/2011 19:31

Rocky, where do people "insist" you pay in other currencies ?



Yes some may ask for sterling but most if not all the people I deal with take TL no problem.

tania


Joined: 09/12/2011
Posts: 116

Message Posted:
17/12/2011 19:43

Rocky from Esentepe - your mantle, spelling and grammar are changing with each post.

Are you ex-pat or not? Perfect English 1st post (windy hills) now spelling, grammar etc.

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
17/12/2011 19:49

I actually think they quote in Sterling because they think that we are likely to convert TL back to Sterling in our minds. I am sure most expats do this anyway. More likely if you haven't lived here very long & less likely if you have lived here a long time.

Some shops dealing with certain types of items price in the currency that they imported the item in (I think). Example Comaks quote most their computer consumables in dollars. However they take TL in payment, using the rate on the day of your purchase & they have always given me the exact rate for the day. However they do not sell at the price at the point of import, which may mean you win or lose?

At the end of the day, you have a choice as to whether to buy or not.

Supermarkets always sell in Lira.

It's only the higher priced items that are quoted in Sterling or Euros. This may be because quoting a house or car price in £s Sterling seems psychologically lower than the number in TL. Bit like £13.95 or £14 marketing in the UK.

iris1


Joined: 29/11/2009
Posts: 107

Message Posted:
17/12/2011 19:59

Why is it on any bank holiday all the resturants charge in pounds sterling for set meals but the rest of the time they charge in Lira dont understand this one bit. All of them are advertising in paper for Christmas Eve, Christmas Day and New Year in Sterling.

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
17/12/2011 20:06

I can't think of a time when i have been to any restaurant here and been charged in Sterling.? Unless i have been short of TL and asked to.

Is this the tourist restaurants?

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
17/12/2011 20:10

I think 'all of the restaurants are advertising Christmas day in Sterling' is a bit of a generalisation. Most are, but I have seen adverts quoting in TL as well.

They are mostly catering for Expats on Christmas day & it's the same issue. They seem to think we prefer this.

Or it may just be a case of old habits die hard. TL used to be a very risky currency back in 2000/2001 following the bank crashes in Turkey & here. Sterling was seen as strong. Not anymore............. but that message doesn't seem to have been understood by TCs here yet.

Having said that, TL is very weak at present.

Ed1957


Joined: 03/09/2011
Posts: 377

Message Posted:
17/12/2011 21:47

If you live in TRNC, then get used to TL, leave the GBP to the UK, and you will get fairer prices. Every shop will change GBP to TL at rates that are beneficial to them, no surprise there.



It's not Clacton here, it is a foreign country, get used to paying in foreign currency

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
17/12/2011 22:09

Ed1957

Did you buy property here. Was the house priced in Sterling or in TL?

It seems to me that your posting style is somewhat agressive.

I used to get my knickers in a twist over this issue. I don't have a problem with it now.

The answer to a problem with shops giving you a poorer rate is not to pay with sterling, just TL....don't you think.



I do still have a problem with not getting all the change due but I now generally use a local credit card for everything I buy. That solves the problem.

Even the currency changers & banks do this...... if you let them. The Banks don't though if you buy currency & bank it. Only if you pay a bill in TL cash that isn't an exact amount in TL or you use Sterling cash to change to TL in cash. Despite the fact that I've lived here quite some time now, it still winds me up.

rockyroxstar


Joined: 16/12/2011
Posts: 26

Message Posted:
17/12/2011 22:59

think of it differently...

How a bout the locals "do they pay in sterling"?, how can they afford the prices displyed in other currencies?.......

I have tried to follow the shopping pattern for the locals, I must say I dont see many shopping in those shops??? using currencies other than TL..... it is factual, they can not afford it....



sadly, and I must say locals / natives alongside the "expats" are equally suffering from the exploitation and mentality of "some".... making as much as they can for themselves...



TRNC needs to value its people and its Lira.....

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
17/12/2011 23:40

from lera to lira in such a short time ? well done

travelcyprus


Joined: 01/12/2011
Posts: 16

Message Posted:
18/12/2011 00:01

TL is legal currency. All price is originally base in TL. Because of large population from UK, the British expat want to use pound as calculation unit because of convenient, math challenge, or just simple stupid. Thus social trend is developed to use pound as currency if tourist involves the transaction. For example, you get rental car quote 13 pound per day. the original price is TL. The rental car company exchange to pound with at least 3% make up plus roundout the decimal. something 12.1 pound and make 13 pound. normally every time , price quote in pound in cyprus, the price include exchange makeup and roundout of the decimal, plus a little push up to reach uk physiological price.Do you know why UK is expensive? The reason is use large base unit of currency beside it is rich country. The low value item tend to be expensive in country using large base unit currency because low sensibility of people felling toward small number.

travelcyprus


Joined: 01/12/2011
Posts: 16

Message Posted:
18/12/2011 00:22

For example, people feel 10 currency unit physiological acceptable price for a cheap meal. In UK, it will be 10 pound, in US it will be 10 dollar, it will be 10 euro in Germany,it was 10 mark before euro. Germany is good example. its price double after 1 euro to 2 mark currency conversion. For example, one unit currency consider small money. The beggar in subway in Germany used to ask one mark and become one euro after euro conversion. The some is one mark coffee become one euro coffee. You can image UK will introduce new pound to one to two old pound for celebration of queen 100 years birthday. UK price will be double as Germany using euro. I think one pound is about 3 TL. The business use this human weakness to price in pound plus math challenge or lazy expat just like it. I think you better use small base unit currency to price anything for yourself. The pound is worst, euro is better, us dollar much better, russian rubel is best.

travelcyprus


Joined: 01/12/2011
Posts: 16

Message Posted:
18/12/2011 00:25

The worst thing in cyprus is that hotel, rental car, taxi insist price everything in pound including people on this board renting apartment.

JohnDownes


Joined: 03/12/2010
Posts: 123

Message Posted:
18/12/2011 15:55

30 years ago I worked in the City of London in the Insurance business. We did some business in Turkey and it was noticeable that the Turkish Lira exchange rate was dropping like a rock. From memory about 50% each year, every year. That's why it got re-valued a couple of years back at a rate of 1m old ones to make 1 new one.

In that sort of environment, the people who actually use TLs are going to suspicious of it as a medium for storing value. It is natural for people to nominate a currency that is more trustworthy. Some people I know do their business in TL and when they have accumulated a surplus routinely change it into "hard" currency. I think it's just as simple as that.

That said, it's perfectly sensible for computer shops to charge US Dollars for their stuff, 'cos that's what they have to pay out in when they buy it in the first place. Property is always priced in Sterling here, presumably because the target customers are all (or used to be) Brits. All perfectly rational.

Ed1957


Joined: 03/09/2011
Posts: 377

Message Posted:
18/12/2011 16:52

I agree with the reasons for property and perhaps cars being in GBP. but not every days objects meals and taxi fares. It is the same on the S coast of Tukey, being quoted in Euros for a dolmus ride

travelcyprus


Joined: 01/12/2011
Posts: 16

Message Posted:
18/12/2011 17:44

In MBA course, it is called price discrimination. Price determination is based on the capability to pay like telephone

travelcyprus


Joined: 01/12/2011
Posts: 16

Message Posted:
18/12/2011 17:45

like telephone company charge different rate according the neighborhood.

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
18/12/2011 17:54

message 18, i have never noticed but then i am always working Christmas and New Year so we stay at home and i cook.

Message 20, yes locals are quite happy to pay in sterling .



Charging in what ever currency for me is about offering our customers a choice and easy way to pay. Its not about earning money changing one currency to another. We always check the rate with the exchange shop and change at the same rate.

rockyroxstar


Joined: 16/12/2011
Posts: 26

Message Posted:
18/12/2011 19:36

Blade,

your are still missing the point,... Locals "native cypriots / jo public) dont pay for their goods in sterling, only the other nationals do.

Check it out, how many cypriots "ordinary jo public" and not the "big and rich ones" carry other currencies. The answer without hesitation is "NONE". The locals simply do not purchase their neccesary / daily goods in ££££.......

I am NOT attacking, I am just trying to understand, why home currency "the Lira" is not used as normal?, the same way the sterling is used in the UK "use of own currency ONLY"...



Am I to believe that world economy and local economy revolving round £,$ and Euro??, because those currencies are better and more valuable than the TL,... well I dont believe it "one iota"...



considering Turtle's and others comments / argument are valuable yet, I still say there is no need for such practice, it is damaging to economy in the long run....,

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
18/12/2011 19:44

OK let me just say, I am a brit and when I visit NC I pay in TL, Shopping,.. eating out,.. leccy bill,...local belidiye,.. Car hire,... rugs I bought recently from mermaid and a lovely kebab from fast food in Alsancak.





All paid for in TL.





Does that help ?

rockyroxstar


Joined: 16/12/2011
Posts: 26

Message Posted:
18/12/2011 19:51

Dont be angry "heavens",.. life is too short ,.... I am just thinking loud.... in fact I am now

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
18/12/2011 20:09

Not angry at all rocks in fact quite chilled today





Just can't understand what the problem is !

rockyroxstar


Joined: 16/12/2011
Posts: 26

Message Posted:
18/12/2011 20:15

Turtle,

glad to read you are chilling,... have another beer / wine or local brandy



tomorrow is another day and better "let it be" for today ;-)

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
19/12/2011 18:55

The majority quote pounds to be helpful. Most have a better idea of today's rate than I have and I check regularly.



The real rogues give you a quote for a job but don't say what currency.



I had a quote on the phone at 09.00 for 1700 , 1700 what says I. Pounds they say. Sorry forget it is too dear.



09.10 the phone rings and they got it wrong its lira!!



They didn't know I was on the way to the site and at 10.00 I found the job so far

advanced that they must have started about 07.00. Oops!!!

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
19/12/2011 20:04

Our customer of all nationalities including local TC people often pay in sterling or euro. Some times it helps them out if they have left over currency from their trip.

They are just happy to have the choice.

Salamisboy


Joined: 20/03/2011
Posts: 54

Message Posted:
19/12/2011 22:14

Msg #25 hits the nail on the head, there is no agenda to cheat Brits or anyone else.



Historically the TL has been all over the place, granted that it has more or less settled in recent years there could still be a risk, trust takes many years to be rebuilt Therefore business' who obtain their stock from say UK need to protect their capital in the currency that they have to pay so they will have a Sterling a/c and quote their Sterling selling price in order that they can obtain their target profit margin and capital to replace the sold stock. When it comes to the consumer, be they Brits or TRNC nationals the business' are happy to accept whatever currency is offered at the prevailing exchange rate of the day. Same goes for those retailers who buy from EU or USA will quote their selling prices in euros or dollars.



Many TRNC nationals who hold capital also have Sterling accounts for exactly the same reasons, stability, to protect their capital against a vlolatile Turkish Lira



Sb

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
19/12/2011 22:46

If I go shopping for anything of significant value, for example some white goods, substantial furniture, etc I always take a calculator with me having checked prevailing exchange rates. When given a price I make the calculation immediately and offer that sum. If they ask for any more based on their calculations, they lose the sale.