Ah, right.
So if it heads north to five to the pound you'll be ecstatic then?
In my opinion there is no great advantage for the majority of members of this forum for the Turkish lira to either go into freefall or hit a serious low against the major currencies. In fact, it's quite the opposite.
Ok, there are a few benefits to a weak lira - those with Sterling pensions get a bit more each month, the Efes will appear to be cheaper allowing for larger and more toxic hangovers and eating out, on the face of it, will be cheaper. Unfortunately, due to the current political & security situation in Turkey a weak lira is not going to bring tourists to the country in their droves like previous years, so that benefit is out the window...
All of the above are short term benefits.
Inflation is already eroding the additional lira pensioners get - the next round of tax and utility increases could be heftier than the last.
Fewer tourists means less profits to the small businesses who sell you that Efes and food, the majority of them paying their rent in USD, EUR or GBP - a weak lira means (in real terms) they pay more rent each month as they buy in and sell food and drink in lira.
So, be careful what you wish for, that cheap Efes you desire in September may be there - unfortunately, when you go looking for "those little places we've used for years", finding them still open to sell you it may prove more difficult.
JF
