Author Topic: Getting Out of Lira  (Read 9760 times)

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Offline suehugh

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Re: Getting Out of Lira
« Reply #30 on: January 23, 2014, 19:02:46 PM »
Haha, no worries Sue!
Sorry, I can't let Sues name be sullied.
I am the daily mail reader.
Sue is more of a House & Garden / knitting pattern browser.
She says they make more sense than the Mail
Hugh not Sue



Offline scorcher

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Re: Getting Out of Lira
« Reply #31 on: January 23, 2014, 19:58:13 PM »
Ah, if Sue is heavily into the knitting malarkey maybe she could get the measure of Lance so to speak - he's looking to buy a sweater !

Offline KKOB

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Re: Getting Out of Lira
« Reply #32 on: January 23, 2014, 20:11:18 PM »
Nah, it's a willy-warmer he needs. It's just a 5 minute job.

Offline JohnF

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Re: Getting Out of Lira
« Reply #33 on: January 24, 2014, 13:30:17 PM »

Someone just told me that out of overall corporate debt, approx 42% is in foreign currency.  They don't know the breakdown of currencies but reckon a high proportion of it is in USD.  No reason to doubt his figures.

JF

I wonder if the price of all those shiny new planes Turkish Airlines are buying was agreed in dollars. I bet it was. Don't chuck all those dollar reserves into the currency quite yet Reg...

I suspect the Boeing order is, and its likely the Airbus order is in EUR.  Still a big chunk of THY state owned, 49.12% - so unlikely to see any downscaling of orders.  Not sure if their claim to have $1.2bn of banking reserves is true now...

JF

Offline Big Dave

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Re: Getting Out of Lira
« Reply #34 on: January 25, 2014, 19:37:13 PM »
Dave - does it not concern you that you might be changing sterling pounds to 3.75 lira, while there is a possibility of it going to 4, 6 or more to the pound? That would be my worry.

I only change the minimum we need to live on, on a week to week basis. Mostly the money is from our Company Pensions but if I have to, then we will dig into short term savings. We have to get through to November when I get the State Pension which will then probably open up the SGK can of worms. I just think that if this is a short term blip, 3-6 months, then make as much as you can. There are opinions that when the elections are over the Central Bank will raise interest rates to stabilise and then to increase the value of the Lira. Some think the damage is irreversible and the Lira may never recover. Whatever we do it is a gamble.




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