Author Topic: Lira (Again)  (Read 12187 times)

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Offline Colwyn

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Re: Lira (Again)
« Reply #10 on: November 01, 2016, 14:10:52 PM »
But quadrupled in price for the locals
Yes, getting inflation under control was one of the great achievements of the less-lauded leaders of the AKP government and enormously important for ordinary Turks before RTE caught Third-Term-Itis and succumbed to meglomania.



Offline jamesuk

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Re: Lira (Again)
« Reply #11 on: November 01, 2016, 15:59:40 PM »
But quadrupled in price for the locals

Why would that be ?

Offline Scunner

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Re: Lira (Again)
« Reply #12 on: November 01, 2016, 16:44:36 PM »
Because the price quadrupled

Offline jamesuk

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Re: Lira (Again)
« Reply #13 on: November 01, 2016, 16:55:52 PM »
I know what it means Scunner   :) But was asking why would it quadruple for the locals.What is the reason.

Offline JohnF

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Re: Lira (Again)
« Reply #14 on: November 01, 2016, 16:57:06 PM »
It must be the weather, or maybe the UK clocks going back...

JF

Offline jamesuk

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Re: Lira (Again)
« Reply #15 on: November 02, 2016, 08:00:59 AM »
It's all relative. When I first went to Turkey inflation was running at 100% annually. First year Efes cost 250,000 lira (= £1), second year it was 500,000 (= £1), third year it was 1,000,000 (= £1).

That's tripled in my book. 3 times. So why would it have Quadrupled for the locals. Same question. Now what clocks?

Offline Lotty

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Re: Lira (Again)
« Reply #16 on: November 02, 2016, 08:07:24 AM »
Tripled would be 750 lira?
It ended up 1000 lira for 1Efes - with which the locals could have bought 4 beers in the first year.   ;) 8)

Offline jamesuk

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Re: Lira (Again)
« Reply #17 on: November 02, 2016, 08:52:06 AM »
Got it   :)

Offline JohnF

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Re: Lira (Again)
« Reply #18 on: November 02, 2016, 09:07:24 AM »
It's all relative. When I first went to Turkey inflation was running at 100% annually. First year Efes cost 250,000 lira (= £1), second year it was 500,000 (= £1), third year it was 1,000,000 (= £1).

That's tripled in my book. 3 times. So why would it have Quadrupled for the locals. Same question. Now what clocks?

I think you should apply for a job at the Turkish Central Bank.

 :)

JF

Offline Colwyn

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Re: Lira (Again)
« Reply #19 on: November 02, 2016, 10:05:00 AM »
JamesUK, here is the qualifying test in the application form for the Turkish CB:

How does reducing interest rates control inflation and strengthen the lira? Please show all your workings. [Question set by R.T. Erdogan].




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