Lira getting Stronger - Why?

[JohnF]

Looking unlikely today, the biggest losses seem to happen in the morning.  But, you never know with the lira.

JF

[Colwyn]

Seems to be recovering - the way it was going earlier on this morning five looked a sure bet by COB.  Lets hope the wee fella keeps his mouth shut tomorrow, he often says something incredibly stupid on a Friday and give the markets serious jitters.

JF

Reuters report in the last hour: Turkish President Tayyip Erdogan declared his opposition to the central bank's interest rate corridor policy in comments reported on Friday and reaffirmed his view that interest rates cause inflation, "not tomatoes, not pepper" ... Raising interest rates influences the exchange rate and inflation in a negative way,

http://www.metro.us/news/turkey-s-erdogan-weighs-in-against-central-bank-rates-policy/wrlqaA---xFXKEcKLOOtBBkJInuBj8g/

[MrT]

Tempted to get some holiday money out early I can get 4.69 to the £ at a local Cash Generator.

[MrT]

My local for the past month or is €1.50 for a 50cl of Estrella, the equivalent to 6tl.  There is simply no comparison with the additive infested product named Efes.




JF

I was in Spain a few months ago at a music festival and the drinks were very cheap, no surprise the beer in bars can be  €1.50  when you can get 12 cans of San Miguel on offer in the supermarket for €5 , and unbranded beer was as low as 25 cents per can.  "Estrella is a bit rich tasting for me"

[JohnF]

Tempted to get some holiday money out early I can get 4.69 to the £ at a local Cash Generator.

Finansbank giving 4.85tl to the quid right now.

JF

[Colwyn]

The financial institution Fitch has joined S&P and Moody's in dropping its sovereign borrower rates for Turkey to "Junk" status. Financial Times says: 'The ratings blow means Turkey’s domestic banks will now face higher funding costs to access central bank loans at a time when growth has fallen to its lowest since 2009 and investors have dumped the currency.'  Exactly the sort of thing RTE expects of "economic terrorists".


https://www.ft.com/content/feb883bd-577f-31c6-b977-1c8082eccbad

[JohnF]

Monday morning will be the best time for any "five & four" watchers...

JF

[Scunner]

Junk status but the strongest fight back in ages. I'll never understand it all...

[kevin3]

    The shoe box shuffle.??

[patrice]

4 .57 today is the TL recovering ?