Lira getting Stronger - Why?

[JohnF]

I think it was in freefall, until the Turkish markets opened at eight this morning.  It was just shy of 4.29 against the pound and 2.80 against the dollar but I think there is a lot of work being done to try to recover it from these all time lows.

JF

[Jacqui Harvey]

They were giving 4.10 in Fethiye today.  So it has steadied a bit.

[Colwyn]

They were giving 4.10 in Fethiye today.  So it has steadied a bit.

Was that at the clothes shop? The good old 4 point TEN!

[Jacqui Harvey]

Catch up Colwyn.  Colin now has an Estate Agency, but still stands at the door offering to change money.  i'd love to know how he gets away with it.   We saw an elderly man in there today changing money.  Another lamb to the slaughter I thought.
We changed our money at Dikmen's at 4.10...

[Colwyn]

Over the last few months I have a a very poor appetite. So I have taken to eating unconventional meals - such as a couple of starters instead of a main meal. Last night I decided to go to a nice fish restaurant for their big bowl of fish soup with big lumps of fish in it (and, of course, the compulsory half a loaf) and then off, a couple of hundred yards away, to my favourite gozlemeci for a kiymali. Both places were non-alcoholic so no extras there. Total cost for the combined meal 18TL which at today's exchange rate is £4.31 - nearly, just a bit less. Cheap fella to take out, I am. But tonight I think I'll splash £10 on a steak (and see how much of it I can manage).

UK Post Office Survey says Turkey this year getting too expensive for Brits. Yeah.

[JohnF]

But tonight I think I'll splash £10 on a steak (and see how much of it I can manage).

Well, how much of it did you manage?

Looks like the uncertainty over who will jump into bed with who is further weakening the lira - probably not helped by the rise in both unemployment and inflation. 

Also interesting to note that Pegasus have announced that they are (from 1st July) using the USD as the base currency for international flight bookings, as opposed to the Euro which has its own difficulties. Cue THY to do the same maybe?  Help pay for the billions of USD they've committed to, over god know how many years, to buy all these shiny new aircraft.


JF

[kevin3]

  And cue the rest of the Airlines using the USD to disguise price hikes.?

  The  Turkish Lira is currently Tl  4.2630 by the way.  Splash out on two steaks Colwyn.

[Colwyn]

Well, how much of it did you manage?

I managed three quarters of it and was very pleased with myself. The restaurant boss, Mev, was most concerned but I assured him it was down to me and not his kitchen. Every time I order steaks in Britain or Turkey I swear "Never again". I cook better at home and a fraction of the price (a smaller fraction of UK prices). And when in Turkey I should eat Turkish food.

But, back to the important business of this thread - more than four and a quarter lira to the pound.

[yabanci]

Just past 4.30 on XE this morning.

[JohnF]

Depending on what happens with the eurozone finance ministers meeting regarding Greece this week, we could see the GBP strengthening and the lira dropping further.  A bit of stability needed in Ankara to stop the slide methinks...

JF