Lira getting Stronger - Why?

[Colwyn]

4.64, eh? And what did you say it would be at the end of the month?

[JohnF]

You got me there...     

It's also a blatant lie that I've been bulk buying lira this week   

JF

[stoop]

Is it June yet?  

[JohnF]

June?  If I had been buying lira over the past week or so, which of course I haven't, I'd be dumping the lot on Monday when the bayram ends and before the Turkish markets open - and paying for a couple of flights to Santander from EDI.   

By June next year the YTL may have had a zero added to it.

JF

[davybill]

As they say in  the Army, you cant beat Barrack room lawyers,?

[JohnF]

And your point is?

JF

[Colwyn]

As they say in  the Army, you cant beat Barrack room lawyers,?

They say lots of daft things in the Army.

[Colwyn]

Basci has been making optimistic noises about recovery in the Turkish economy in the second half of 2015 with improvement in the current account - meaning Turkey has to dip less into its capital account to make up the shortfall. Nevertheless the CB pushed $1.1 billion into lira support in August which left $31b reserves. It will be interesting to see how much of this will be left after the September support has been added up.

[yabanci]

The Central Banks support of the lira seems to be working at the moment,with the pound now below the  4.50 lira mark.

[gillian handbury]

Yesterday in Calis....4.40.. In Fethiye change shop 4.45... We got 4.53 in Sugar Bank.....