Exorbitant currency exchange rates at Istanbul Airport

Istanbul Airport has quickly drawn backlash not only for its food and beverage prices but also for the exchange rates set at its currency exchange offices. At the exchange points operating within the airport, the buying price for the dollar reached 30.045 TL, while the selling price climbed to 55.799 TL.

Frequently brought to the agenda by various magazines and platforms as the world's most expensive airport, Istanbul Airport has now become the center of controversy due to its rapidly spreading currency exchange practices.

A comment circulating on social media, "Whoever owns this currency exchange office, they are certainly more unscrupulous than Bedri Usta!" summarizes the frustration. The fact that the exchange rate spread between the market and the airport has reached extraordinary levels has triggered harsh criticism from experts and economists in particular.

In past years, economic management had issued instructions to banks to increase the spread in foreign exchange transactions. However, while it has been observed that this gap has narrowed in the markets over time, the persistence of such a high spread at the airport leaves passengers and tourists in a difficult position.

Passengers who turn to currency exchange offices at the airport due to urgent cash needs face the risk of losing nearly half of their money. It is not only Turkish citizens but also foreign tourists visiting Turkey who experience similar grievances when they are forced to exchange or purchase foreign currency.

News Source: 12punto