More Lira for your Pound

[Ian]

Todays exchange rate:  1.00GBP = 2.52 YTL  Data From: coinmill.com

[tintin1504]

Articles over the last few weeks have indicated the YTL was overvalued, maybe we're seeing a levelling out.
Cinders read one analyst tipping it to go to maybe 2.70!
Oh to have a crystal ball!!!!

[Ian]

Come on - credit where it is due

See bottom of page - 1.00GBP = 2.57 YTL  

quote:Originally posted by davybill

i think it will be a long wait till it reaches 2.55 again.
surely its better to take the monthly interest rate.

[cinders]

Hang on in there if you can may rise to 2.65 SOON :DC

[AndyLin]

Yesterday in Finnas Bank 2.51tl

[davybill]

yes ian im glad you proved me wrong,hope you do well out of that rate.

[Ian]

David - thanks for not telling me where to go  

There is another thread running on this topic and I go back to my original point - "if you exchange at the right time - you can make 10% in one minute as opposed to exchanging at any time"

I have bought lira in 2009 at 2.55 and will buy again only at that rate or above having looked on the internet at some charts over the past 5 years that told me that was the average rate - although it has been down in the doldrums for a few years - maybe we are going to see a periods of 2.40 to 2.75 as we did in 2005 / 6 and 2007 again - who knows - Stooooooooop - which way is it going .....................  

[desmartinson]

yep dead right 2.55 today

[corbindallas]

The trouble with Lira is you cannot predict it properly against either the Euro or Sterling it has a mind and obviously(Turkish Government) of it's own, it was not generally expected to cut interest again but they did! A rate cut by the Central Bank has obviously helped devalue the Lira thus the exchange price is going up but this will stable again especially when other currencies like Euro and Sterling devalue their currencies early next month with interest rate increases so imo now up to Thursday this week is the time to exchange to take advantage of this high rate as it will not last much long past this coming Thursday when the BoE put interest up as expected especially after the latest inflation increase news in UK.

[Honey Bee]

Coming out in two weeks and need to changw some money. Is it best to complete in UK or in turkey. We have a Turkish Bank account (Yapi) so usally transfer from stiring to Lira on line.?

Any advice.