Lira getting Stronger - Why?

[Colwyn]

3.68 with with zero fee, zero loading on bank Visa debit card. I notice that the charge Visa makes for its service (i.e. what it charges banks) is higher for Turkish Lira (1%) than it is for US Dollar (0.5%). I guess this is down to the volatility of the Lira.

[kevin3]

Tl  3.77 a moment ago at Finansbank,

[Colwyn]

Yep, the Economy Minister makes another anti-CB speech, RTE overrules his own PM on the new Administration Transparency Law, and the TL loses 1% of value against the USD in five minutes. AKP seems likely get its currency devaluation by default. It looks like it will finish the day 5.5% down over the last four weeks.

[kevin3]

Now Tl  3.7830. Book an extra week Colwyn.

[yabanci]

As well as briefly hitting 3.80 against the pound yesterday the lira hit another record low against the dollar reaching 2.4950.

[Colwyn]

Another milestone for you Yabanci. USD through 2.5 (and GBP back to 3..

[yabanci]

Wow.Reg been tweeting again?

[Scunner]

3.8132 now- highest since the zeros came off I think. Will we see 4 this year??

[kevin3]

Yes is my guess, and more. RTE is going nowhere just yet so  neither is the uncertainty.
Reports yesterday that Gul is under surveillance and anyone meeting him regularly, and
also lots of infighting breaking out at the top of the AKP re promotions and pecking order.
Add to that RTE's plans to set up a 13 man committee in his White Elephant to oversee
EVERYTHING else including the government, then factor in the elections and I can see a 5tl.

[Colwyn]

3.8132 now- highest since the zeros came off I think. Will we see 4 this year??

If the Central Bank cuts more than 0.5% in two week's time, or if it only cuts that much and RTE and sidekick Zeybekci throw a major wobbly, you might see 4 before the end of Feb 24th or perhaps the next day.