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Large Demand on the Turkish Lira in Qatar During the Tourism Season



Qatari exchange companies have confirmed that the low exchange rate of the Turkish lira has increased the market demand of travelers from Qataris and Southeast Asia and Europe residents towards Turkey.

 

Managers of these companies explained to the Qatari newspaper Al-Arab, That the low lira price was an important tourist attraction for Turkey, especially as it is a tourist country with excellence multiple options and variety, stressing that the Turkish lira topped the list of required currency and share the forefront with the dollar, while overtaking the euro.

 

They pointed out that before the holiday season, Qataris were keen to buy the lira to support Turkey then turned to buy it for a tourism purpose in Turkey, which has become the preferred destination for many of them and also residents, expecting that the large demand will continue over the next month.

 

Jumaa al-Mu'adi, the chief executive of one of the exchange companies, told the newspaper that his company recorded a large demand for the lira until it runs out on a daily basis and the company is constantly securing currency reserves from Kuwait, where sometimes there are some difficulties due to the large demand.

 

He pointed out that about 30% of currency buyers during the current season require the Turkish lira, which has become a rival to the dollar at the top of the required currencies by those wishing to travel, where every 3 out of 10 people asking for the lira and the rest of the world other currencies.

 

He pointed out that the demand for the Turkish currency has been increasing steadily since last June, and continues in the same pattern until the current period, explaining that the company is now securing the stock of the lira almost every two days, in contrast, we used to secure it once a week in the preceding months.

 

Qatar's tourism to Turkey has seen significant leaps in recent years. According to Qatar Chamber data, the number of Qataris visiting Turkey annually rose from 600 people 15 years ago to about 46,000 last year with 77 times increase.

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