Lira on The Slide?

[mavisim]

Just seen this on the Fethiye Times site.

Monday, 30 July 2007  
As the school holidays begin in England the Turkish Lira has started to depreciate against the British Pound (GBP). Last week when the general election results were announced the Lira stood at 2.55 to GBP. But, amid a global downturn in the financial markets and a general worry about global financial risk, the Lira is starting to depreciate. The Lira stood at 2.65 today and looks set to fall further as dealers get their money in to safe havens until things settle down.

Of course this is good news for holiday makers and ex-pats who can now buy more for their pound. But how far will the Lira go this time? Last year, the Lira fell to 3.20 to the GBP. Will we see a similar event this time? We'll have to wait and see.
 

Was wondering if anyone has any views?

[KKOB]

The further it falls, the better in the short-term. But, you've got to look at the long view too for the Turkish economy.

[teresa321]

Doesn't look to be doing much to me.  There was a jump after the election result but you had to be quick to get anything from it it seems to indicate confidence/satisfaction generally with the latest election result.

Having said that I don't know anything about this stuff and I have never made any great killings when exchanging money. Here is a nice little site though where you can track the lira value over given periods - for when you are having trouble sleeping at night.

  http://www.oanda.com/convert/fxhistory

[Scunner]

It's not the full indication of the economy in Turkey by any means - even with a fairly stable GBP/YTL exchange rate, you can see very different data - the strength of the YTL agaisnt the US dollar in recent times for example.

[stoop]

As long as it keeps falling before we pay our site fees and electric bill for this year!

[Steve B]

I don't think it will a lot of difference to the humble holiday maker but it will certainly to those who trade in Lira and those who live or work in Turkey.