Turkey may see rise in foreign exchange transactions

Foreign exchange transactions may increase in Turkey as UK emigrants relocate to the country, industry experts suggest.

Property resource Quest Magazine, recently highlighted figures compiled by the Turkish Statistical Institute that indicate expats are setting up their homes in the region in greater numbers.

The resource explains that investors are choosing to make foreign exchange transactions in the area in order to purchase affordable properties.

In addition, the region's many flight connections appeal to Britons wishing to live in the country but who also intend to travel to the UK to visit family.

"Many Britons are aware that life in their home country may not be affordable and would prefer to move overseas rather than live in poverty," said the publication.

Meanwhile, research by Sainsbury's Bank revealed that the country also offers favourable exchange rates, as the pound grew against Lira by 2.10 per cent.

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By Linsey Summers.