Calis Beach and Fethiye Turkey Discussion Forum

Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: Sleuth on December 15, 2014, 18:04:44 PM

Title: 4 lira to the pound by Dec 31st ?
Post by: Sleuth on December 15, 2014, 18:04:44 PM
Will it be 4 lira to the pound by the end of the year ? its racing up right now...great for those with UK pensions cashed in Turkey, but bad for those ex pats with turkish bank accounts hoping to one day change lira back to sterling...
Title: Re: 4 lira to the pound by Dec 31st ?
Post by: usedbustickets on December 15, 2014, 19:36:32 PM
I think it is unlikely, but may come close, as the Turkish Central Bank will raise interest rates.  Reg won't like it, but will go along with it for two reasons.  Firstly because it will lead to a flight of foreign cash from Turkey - both the seen and the unseen - that will have an even greater impact on the economy.  And secondly it will align with Reg's AK election strategy ... blame the Western imperialist governments (get in chime with Putin), Turk hating europeans (a given of course), interest rate lobby (read Jewish), economic masters and any other conspiracy theory that comes to hand, which in 2015 will probably include the Armenians as central to any conspiracy.