Lira getting Stronger - Why?

[stoop]

It wasn't that long ago we were wondering if 3.5 to $ might be a temporary ceiling for the ₺. This morning it touched 3.7.

Highest I've got for today on XE is 4.51. Will it get to 5?

[davybill]

It wasn't that long ago we were wondering if 3.5 to $ might be a temporary ceiling for the ₺. This morning it touched 3.7. Even the £ is rising against ₺ - the only major world currency against which it is doing well.

That's good keep it going.

[JohnF]

Why on earth would you want to "keep it going"?

A lira in freefall does no-one any good, unless of course you're an ex-pat living off a sterling/euro/dollar pension who has no regard for how this will affect Turkey as a whole.

Getting ominously close to 3.80 against the USD today - that will be a very serious milestone.

JF

[Colwyn]

John, would you like to explain why you think 3.80 would be such a significant landmark?

[davybill]

Why on earth would you want to "keep it going"?

A lira in freefall does no-one any good, unless of course you're an ex-pat living off a sterling/euro/dollar pension who has no regard for how this will affect Turkey as a whole.

Getting ominously close to 3.80 against the USD today - that will be a very serious milestone.

JF

Its lovely to wind you up John,as you have when you said folks living over here were nuts, or don't give a s---.

[stoop]

Why on earth would you want to "keep it going"?

A lira in freefall does no-one any good, unless of course you're an ex-pat living off a sterling/euro/dollar pension who has no regard for how this will affect Turkey as a whole.

Getting ominously close to 3.80 against the USD today - that will be a very serious milestone.

JF

Well one reason is that it might just attract more holidaymakers but apart from that there is only the cheaper exports that it helps.

It doesn't help the man on the street as it will fuel inflation even further. It doesn't help those wanting to sell to Turkish buyers either. They will not pay over inflated prices.

[JohnF]

Why on earth would you want to "keep it going"?

A lira in freefall does no-one any good, unless of course you're an ex-pat living off a sterling/euro/dollar pension who has no regard for how this will affect Turkey as a whole.

Getting ominously close to 3.80 against the USD today - that will be a very serious milestone.

JF

Its lovely to wind you up John,as you have when you said folks living over here were nuts, or don't give a s---.

You'll have to do a lot more to wind me up, in fact I doubt you could - you can't even manage to get yer wee out of context quote right.  I actually said:

 "Does kinda make me question you folks who are moving to Turkey full time just now - are you naive, or do you just not give a sh1t?"

A statement I stand by and going by the massive drop in European buyers in Turkey over the past twelve months it looks like I'm not the only one with that opinion.

JF

[JohnF]

John, would you like to explain why you think 3.80 would be such a significant landmark?

I should have said another serious milestone - this is an all time low and despite the TCB doing their best today it's still sitting at just under 3.78.

Stoop - you know as well as I do that Turkonomics will kick in and it won't be vastly cheaper for tourists.  Poor exchange rate...  bump up the prices.  In many cases they have to, most commercial rental agreements are in dollars or euros not lira.

JF

[Kevin Sowten]

We've lived here for just over 2 years and the £ to TL rate was 3.5 on arrival.
Hence we have had a 30% increase in the value of our UK pensions in that time.
I have not noticed a significant increase in prices in that time (apart from alcohol tax !)

[Colwyn]

Inflation in Turkey was 7.7% in 2015 and 9.65% in 2016. I am surprised you haven't noticed it. Meanwhile, the dollar has smashed through 3.8 to dollar and is now around 3.86. The lira is on the run and there are two weeks before CB Monetary Policy meeting. 4₺ = 1$ by the end of the week?