GBP to TRY exchange rate

Today's mid-market rate is 1 GBP = ₺62.643. With most currencies you weigh that against a long range. The lira is different: it has fallen against the pound almost every year for two decades.

Here is the context most rate pages skip. In 2005 Turkey knocked six zeros off its currency, turning 1,000,000 old lira into 1 new lira, after years of chronic inflation. The one-way slide continued. The pound spiked from ₺6.20 to ₺8.44 in the 2018 currency crisis, then the lira collapsed through 2021 to 2024.

The "all-time high" here is a moving target, because it keeps being broken. The pound reached about ₺62.63 on 4 July 2026, up from a 2026 low near ₺57.7 in January. Models describe a managed slide of roughly 1 to 2 percent a month.

So for a British buyer the pound has never had more purchasing power in Turkey. The honest caveat: because the fall is driven by inflation, Turkish prices (including property) tend to rise in lira terms at the same time, so the strong rate is not a pure windfall.

At today's mid-market rate of ₺62.643 to the pound, here is what common amounts are worth.

These are mid-market figures, the benchmark, not a quote. A provider gives you a little less. The live comparison table above shows the real, after-fee amounts.

The rates refresh live. For the exact lira a specific provider will send today, use the calculator and comparison above.

Working the other way, here is what a lira amount is worth in pounds at today's mid-market rate. Useful if you have been quoted a price in lira, such as a property, a rent or a restaurant bill.

These update with the live rate. A provider's real payout will differ slightly once its rate and fee are applied.

This is where real money is won or lost, and on a property deposit the numbers are large.

Most of the cost hides in the exchange-rate margin, not the visible fee. HSBC typically applies a 3.5 to 4.5 percent markup, and Barclays and Lloyds add fixed fees of £15 to £40 per transfer.

A mid-market specialist like Wise uses the real rate and charges a small, transparent fee of around 0.43 percent instead.

On £10,000, a typical high-street bank baking in a 4 percent margin sends roughly ₺599,000 instead of the mid-market ₺624,800, so you lose more than ₺25,000 to the spread and fees.

On a citizenship-sized purchase the gap runs to hundreds of thousands of lira. The percentage markup scales with the transfer, so it bites hardest on the big payments.

The lesson is not that all banks are equal. It is to compare the lira that actually arrive, every time.

The lira's fall is not random. It is the product of a few powerful, connected forces.

1. Inflation, above all. Turkish inflation reached about 68.5 percent in early 2024 and was still near 39 percent in late 2025. High inflation steadily erodes what a lira buys, so it takes ever more lira to equal one pound.

2. Central bank policy, after a big U-turn. For years, President Erdogan pushed the unorthodox view that high rates cause inflation, and the central bank cut rates while prices soared. After the 2023 elections that reversed sharply: the policy rate was raised to 50 percent by March 2024, then eased to 37 percent by April 2026 as inflation cooled.

3. The current-account deficit. Turkey imports around 90 percent of its oil and gas, which drains foreign currency and pressures the lira. The central bank has rebuilt reserves, near $191 billion by late 2025, to manage the slide rather than stop it.

4. Managed, not free. The practical result is a currency on a path of controlled depreciation. That is why the pound-to-lira chart looks like a staircase heading one way, rather than the up-and-down of most pairs.

The practical takeaway: expect the trend to continue. The question for you is not whether to catch a dip, but how to fix a rate for a payment you actually need to make.

This is the part that matters most for the biggest reason Britons move large sums to Turkey, and it contains a rule that catches people out.

Foreigners can own property outright. Unlike some countries, Britons can hold full freehold title (the "tapu") to a Turkish home. The main limits are a 30-hectare cap per person nationwide and a ban on buying in military zones. Fethiye, Antalya and Bodrum are the established British favourites.

Citizenship by investment. Buy property worth at least $400,000 and hold it for three years, and you can qualify for Turkish citizenship. Watch the "three-value rule": the price paid, the official valuation and the land-registry value must all clear $400,000, or the application is refused.

The DAB certificate is the rule that trips people up. Since 2022, a foreign buyer must obtain a Döviz Alım Belgesi, a foreign-currency purchase certificate. You wire pounds to a Turkish bank, the bank sells them to the central bank for lira, and issues the DAB.

The land registry will not transfer the title without it. So you cannot hand the seller pounds or pay into their UK account. The money must legally enter Turkey in foreign currency and be converted to lira there. Plan for this before you agree a completion date.

The taxes. A 4 percent title-deed transfer tax applies (legally split with the seller, but in practice usually paid by the buyer). New-build homes bought from a developer with money sent from abroad can be exempt from VAT, and a resale is free of capital gains tax once you have owned it for five years.

A note on the swings. Between agreeing a price and the DAB conversion at completion, the rate can move. Because contracts complete in lira, buyers often lock in today's rate with a forward contract (more on that next).

Here is the factual picture, not advice. Because the lira is on a managed downward path, simply waiting usually gets you more lira per pound. Forecasts see the pound rising toward ₺64.7 by late 2026, around ₺68 by mid-2027, and higher still beyond.

But "wait for more lira" is a trap for a property buyer. Turkish house prices are rising in lira terms at the same time inflation drags the currency down, so a stronger rate later does not always mean a cheaper home.

Currency forecasts are unreliable and often overtaken by events, and the lira can move fast in either direction on a policy surprise.

For a large payment on a known date, such as a property completion, many people use a forward contract to fix today's rate up to a year or more ahead for a deposit. Turkey allows foreign buyers this exception to its usual foreign-currency contract rules. These are offered by FCA-authorised firms and are not suitable for everyone, so weigh the certainty against the cost.

Updated live. The GBP/TRY rate, the conversions and the provider comparison refresh automatically from our live feeds. The research and figures are reviewed regularly and updated when the data or rules change.

Written by Mike Smith, money-transfer and FX specialist, from primary-source research (Central Bank of the Republic of Turkey, Bank of England, GOV.UK, Turkish Revenue Administration). Live rates are indicative mid-market figures, so confirm the exact quote with your chosen provider before you send. Information only, not financial, investment or tax advice. Forward contracts and similar FX products are offered by FCA-authorised firms and are not suitable for everyone.