Calis Beach and Fethiye Turkey Discussion Forum

Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: kevin3 on February 20, 2016, 19:34:09 PM

Title: Lira
Post by: kevin3 on February 20, 2016, 19:34:09 PM

  Anyone figure out why the Lira is remaining so stable for so long, given the events unfolding in and around Turkey now.?

  I smell a Sea Bream.

Title: Re: Lira
Post by: JohnF on February 21, 2016, 09:40:29 AM

Depends what you're comparing it against.  If it's the GBP then it's more to do with the GBP weakening against a lot of currencies than the TL strengthening.

JF

Title: Re: Lira
Post by: Scunner on February 21, 2016, 10:20:14 AM

Yes a very weak quarter for the poond all round


(http://uploads.tapatalk-cdn.com/20160221/11b31071491265a5a6e1fdde46347325.jpg)

Title: Re: Lira
Post by: kevin3 on February 21, 2016, 17:25:01 PM

  What I can't understand is why, given the Russian/Turkish blow up, the explosions/loss of life, sanctions, inflation, and
 
  the loss of freedom of speech and justice. the lira has not been affected in the same way as tourism for example. It has

  stayed around TL 4.25 ish through all these events which to me seems artificial. 

Title: Re: Lira
Post by: Scunner on February 21, 2016, 17:47:14 PM

You are right Kevin - when you consider the euro is strong against the weak pound, the lira would be expected to be on the slide against the euro (if not the weak pound). In fact, the lira has had a fairly consistent month v the euro too.

Title: Re: Lira
Post by: kevin3 on February 21, 2016, 17:55:39 PM

 I'm wondering if the Central Bank has finally given in to "High Command " or whether shoe boxes are being shuttled in.??

Title: Re: Lira
Post by: JohnF on February 21, 2016, 19:55:31 PM

I think the currency markets overall are in a bit of turmoil - we got the US elections coming up, we got the EU in a complete mess and the pound pretty fecked (in relative terms) against everything from the lira to the krone and back again.

Probably why banks are the only folks who make money from currency trading, I mean who'd have thought the lira could have hit 4.25 to the pound...  :)

JF

Title: Re: Lira
Post by: yabanci on February 22, 2016, 08:09:28 AM

The pound continues to weaken against the Lira, dropping below 4.20 this morning.

Title: Re: Lira
Post by: kevin3 on February 22, 2016, 09:08:18 AM

 Yes, I think it's the uncertainty over the EU Referendum.

Title: Re: Lira
Post by: Colwyn on February 22, 2016, 09:19:29 AM

Today the £ is down against all the currencies listed on the BBC Market Data site. I've never seen that before. £ is even down 1.8% against the Russian rouble!

http://www.bbc.co.uk/news/business/market_data/currency/default.stm

Title: Re: Lira
Post by: kevin3 on February 22, 2016, 09:38:53 AM

  The Boris effect. !!       ;)

Title: Re: Lira
Post by: Colwyn on February 22, 2016, 09:45:05 AM

Yeah, I bet he's got his wedge in dollars!