Lira getting Stronger - Why?

[Colwyn]

+2.0% to stabilize the economy currency.

[Colwyn]

Central Bank didn't go for +2.0% nor +0.5% nor +0.25% for the main policy rate. It opted for 0.0%. The imprint of Erdogan's jackboots all over the decision. Not likely to make foreign investors keen on Turkey.

[davybill]

Well borrowers will be happy.

[JohnF]

Central Bank didn't go for +2.0% nor +0.5% nor +0.25% for the main policy rate. It opted for 0.0%. The imprint of Erdogan's jackboots all over the decision. Not likely to make foreign investors keen on Turkey.

...and as a result, the lira immediately lost six kurus against the dollar - GBP rate went from 4.65 to 4.72.

I don't think the markets have much faith in the lira at all, and today the TCB missed an opportunity to stabilise, or maybe even strengthen, the lira.

JF

[stoop]

Now 4.80 to the £

[MrT]

Not a good day for the lira just hit  4.82 to the £

[Daffodil]

Five TL to the pound now!!!

[JohnF]

Where you seeing that?  Topped out at 4.84 today.

JF

[Daffodil]

Sorry, just amazed how things are going. It is £1.03 for five TL so I was just shocked.

[JohnF]

Its ok, truth be told I was half expecting it get closer to five than it has today.

Maybe its about time someone updated the Efes Price Index... 15tl for a 50cl by start of season?

JF