Lira getting Stronger - Why?

[Scunner]

In which case are we going to have a competition to guess the TL rate when Stoop comes out next?

I'll go for 18.75TL to the £     

Ha Ha - I could fix that by changing my dates to suit   

Even if you did manage to time your visitnext year to coincide with your guess/£, you'd not win if the lira has weakened (which it will) - your sterling you just changed at 4.something/£ would be worth less for each £ you have exchanged

[usedbustickets]

Reg has appointed an economic trio to 'parallel run' the Turkish economy, rather than the conventional state apparatus of central bank and finance ministry.  The trio consists of a religious loon who sees nothing but secular plots to undermine the Turkish economy; a former newspaper economics columnist, know for being one of Reg's sternest supporters and - as we would expect - his 37 year old son in law. I shouldn't laugh, it's far too serious for the Turkish people, but what else can you do?

I'd better get over to the TL/£ exchange rate competition and up, or rather down, my esimate for the end of the month.  

[JohnF]

Only a couple of hours till the Fed announces their interest rate decision.  Could be a very big day for the lira tomorrow...

JF

[thebillet]

Given the news from UBT, on the other thread I think I might consider moving my decimal point one place to the right.

[stoop]

To be honest Keith I'm not really that bothered. We got a great rate and won't be changing it back to sterling but spending it on holiday.

We've just been out for over three weeks and spent less than ever on food and drink.

If it's 5 or more when we go next we will just buy more for our next holiday.

 

[JohnF]

Looks like the lira dodged a bullet yesterday, and markets know it. 

I suspect the unusually long bayram was thought up on the basis that the Fed may have increased rates and according to some commentators, could have sent the lira into free fall against the dollar - it'd given them some time (domestically) to try to prop it up.

Unless the AKP have something up there sleeves for over bayram, maybe a stable(ish) time for the lira over the next week or so...

JF

[Scunner]

Stoop - You are buying a continually weakening currency in advance and are not bothered that it will probably be worth significantly less at the time you plan to use it - and you could have got more Lira for your money by simply not investing in it in advance?

Is that why you gave up the Financial Advisor job and went to work for Pickfords?

[kevin3]

  Ouch. !  That's a moving statement.       

[c1]

JohnF on the right track as U.S. Fed hold interest rates, for now, due I think to political pressure as it would destabilise world recovery. Pressure off BoE and Reg it won't last though reckon on another twelve months then up.

[stoop]

No Keith,

We are buying at a time when we think it's a good deal. Neither you or I have any idea what the rate will be next June - when we go out again. It just might go the other way - who knows?

Bottom line is that we are happy getting 4.5 + at the moment and have spent on things we need for the house whilst the rate is so high.

Anyway - I don't think a few hundred quid exchanged now will cause us to lose any sleep - even if the rate does continue to rise.

As for changing jobs - I did that through ill health retirement not through choice