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Not a lotta lira: Money suppliers are running out of Turkey’s crisis-hit currency

Crisis: Queues at Bulgari, Istanbul PIC: EPA

FOREIGN money suppliers are running out of Turkey’s crisis-hit currency as British holidaymakers rush to book trips to the country.

A collapse in the Turkish lira has led to a surge in people buying the currency at ‘unprecedented’ rates.

UK tourists changing £100 on Tuesday could get 880 lira, up from 680 lira a week earlier.

Post Office Travel Money apologised to holidaymakers after running out of lira at some of its branches yesterday. It has seen demand almost triple compared with the same time last year.

A spokesman said: ‘A small number of branches may be running low due to the demand. We expect to replenish stocks over the next 24-36 hours.’ Thomas Cook Money — which is supplied by Travelex — has also struggled to meet demand for lira.

The currency has fallen to record lows in recent weeks, triggered by Turkish president Recep Tayyip Erdoğan’s economic policies along with a trade and diplomatic dispute with the US.

Yesterday, Turkey said it would impose higher tariffs on imports of US products including rice, cars, alcohol, coal and cosmetics.

It came a day after Mr Erdoğan said Turkey would boycott US electronic goods, singling out iPhones.