Author Topic: Lira getting Stronger - Why?  (Read 291376 times)

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Offline Karennina

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Re: Lira getting Stronger - Why?
« Reply #1300 on: October 23, 2018, 07:42:15 AM »
Its risen/dropped a tad on xe today

Offline yabanci

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Re: Lira getting Stronger - Why?
« Reply #1301 on: October 23, 2018, 08:56:28 AM »
Great to see the Turkish lira starting to get stronger, against the pound, members very quiet on
this subject lately.

7.03 Tl to the £ in the Fethiye change offices this morning. 7.35 in the Kuveyt Turk bank.

Offline KKOB

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Re: Lira getting Stronger - Why?
« Reply #1302 on: October 23, 2018, 10:43:44 AM »
Slipped back to 7.56 on xe.com this morning.

Offline Karennina

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Re: Lira getting Stronger - Why?
« Reply #1303 on: October 23, 2018, 11:22:17 AM »
Anyone have any inklings as to why its slipped back please, as in any elections etc coming up? Iv been waiting to change money not sure whether 2 nip into town or wait and see what occurs...

Offline cenk

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Re: Lira getting Stronger - Why?
« Reply #1304 on: October 23, 2018, 12:28:52 PM »
Anyone have any inklings as to why its slipped back please, as in any elections etc coming up? Iv been waiting to change money not sure whether 2 nip into town or wait and see what occurs...
Devlet Bahceli who is the president of MHP, said that his party will not be in an alliance with AKP for the council elections next year.

Offline Karennina

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Re: Lira getting Stronger - Why?
« Reply #1305 on: October 23, 2018, 12:29:54 PM »
Thank you very much for the info Cenk   :)

Offline blueclad

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Re: Lira getting Stronger - Why?
« Reply #1306 on: October 23, 2018, 13:20:06 PM »
Our local Tesco store in Southampton TODAY is offering  7,0702 TLR TO £ based on £50  or more

Offline KKOB

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Re: Lira getting Stronger - Why?
« Reply #1307 on: October 23, 2018, 16:58:16 PM »

Offline davybill

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Re: Lira getting Stronger - Why?
« Reply #1308 on: October 24, 2018, 08:29:01 AM »
Wheres John and Colwyn when you need them? Haha

Offline JohnF

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Re: Lira getting Stronger - Why?
« Reply #1309 on: October 30, 2018, 11:44:28 AM »
Both taking a break from CBF and I've only popped in to say cheerio!

As regards the Lira, well it's been doing great recently and a lot of that is down to the resolution of the Brunson affair.  Unfortunately, the medium term prospects aren't looking good. 

Inflation is going to be the biggest problem over the next wee while - I don't think anyone will be surprised if this months consumer figure is close to 30%, while the producers inflation rate is a kick in the arse off 46% and expected to hit 60%.  Central bank reserves are way down and consumer spending falling.  Pharmacies and hospitals are suffering from shortages of drugs, even those produced domestically.

For the man in the street this is not good.  All we hear from Ankara is that it is not our fault, well hello sunshine, it is.

Projections suggest inflation to reach 35% by year end. If the government doesn't take effective action to bring it under control this figure may be looked at as conservative. 

Couple of months ago in Jerez I met a bloke from Germany, who said he was of Iranian decent.  Turned out he was actually Turkish.  Also turned out he was a believer in the wee fella and his offspring's bloke. 

So, as things do the conversation ended up discussing the Turkish economy.  Indoctrinated or what, everything was the fault of ............ (insert who you like in there).  He then proceeded to tell me what a great guy the wee fella is and how much good he's done for his country and how great an economist Albayrak is, it all then started to get a bit surreal - I mean, I've met lots of folks like this, but to have such blind faith when your economy is circling the drain and your currency gets rated by Bloomberg as only performing better than the Argentinian peso but worse than the Brazilian real!  Incidentally, the Argentinian peso is the worst performing currency so far in 2018 against the dollar.

That's what Turkey is up against, it's gone beyond a ton of coal or a new washing machine - this guy is a consultant neuro surgeon.

Anyway, I'm off again, might pop back in a bit, might not.  Once the auld fella is feeling a bit better he'll probably be back, dispensing his knowledge and wisdom in the only way he knows  ;)

JF






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