Lira getting Stronger - Why?

[kevin3]

           4. 47 TL               

[JohnF]

Yeah, and it wont stop there.

I think the news yesterday that the AKP and the MHP are now BFFs is giving everyone the jitters - new constitution will ultimately sail through and give the wee fella the supreme level of power he's been gagging for.

If the old saying about someone turning in their grave was true, we could expect to see Ataturk surfacing somewhere in the southern hemisphere shortly.

JF

[Colwyn]

The Gov will soon have plenty of money to back up the lira. It hopes to raise $10 billion from sale of 600 companies it seized post-coup. Production of shoeboxes must be in overdrive.

[JohnF]

He just cant help himself, can he?

Last proclamation from supreme leader in waiting:

President Recep Tayyip Erdoğan called on Turkish citizens on Dec. 2 to convert their foreign exchange into gold or the Turkish Lira, adding that there was no option other than cutting interest rates to spur growth.

Following his remarks in Ankara, the lira saw fresh lows against the U.S. dollar.

“Those who keep foreign currency under their mattress should come and turn them into lira or gold,” Erdoğan said in a speech to mark the opening of an automotive showroom complex.

“Such moves will hit some people’s game. Do not worry. We will destroy this game together. We saw such things in 2007 and 2008. I then said the problems would not affect Turkey. I am now saying the same thing. The problems will not even touch us,” he added.

Lira versus USD, 3.55 and against the quid, 4.48.

JF

[BernieTeyze]

I got 4.36 today.

[JohnF]

You got robbed.  Finans buy rate for sterling was 4.44 ten mins ago.

JF

[Jacqui Harvey]

I got 4.36 today.

It is higher than that in the U.K. Bernie,  Where did you get your money exchanged?

[Highlander]

I got 4.36 today.

It is higher than that in the U.K. Bernie,  Where did you get your money exchanged?

The Change Shop   

[JohnF]

It is higher than that in the U.K. Bernie

Where?

JF

[JohnF]

I got 4.36 today.

By the way, I was only joking about getting robbed.  The Finans rate is for customers only and given the fluctuations today, 4.36 to 4.38 would be about right at a doviz or change shop.  Maybe a touch low against a bank but as the lira was at 4.40 for a bit today, not to be sneezed at.

JF