Lira getting Stronger - Why?

[Colwyn]

Yeah, he's got a great sense of humour has Jeremy.

[kevin3]

     Well it deserted him yesterday when challenged by the press. He threw a wobbler did Jeremy.

[Colwyn]

On the day when HDN are reporting that Turkey hopes to have 5 million German tourists this year, following improving relations between the two countries, there is encouragement for EU tourism as the Euro hits record levels against the Lra. After some weeks of calm for the lira this seems to be more a sign of the continuing strength of the € (up 17% against $ in the last 12 months) than any great weakening of ₺.which remains steady against £.

[JohnF]

All time low against sterling this morning, 5.36 and looks like its got further to go.

JF

[davybill]

I will have to get to the bank.

[kevin3]

           Take a wheelbarrow.         

[JohnF]

5.376 now.  Probably a small van would be better.

A bit of a turbulent time ahead methinks, Moodys downgraded Turkeys rating (as a country) last week, this was how Reuters reported it:

"ISTANBUL (Reuters) - Ratings agency Moody’s cut Turkey’s sovereign rating further into junk territory overnight, citing a continued weakening of its economic and political institutions and the increased risks from its wide current account deficit."

JF

[Taddy]

the menu prices on the chalkboards will be getting scrubbed out and changed on a daily basis at this rate. Hope they have enough chalk to last the season.  

[JohnF]

If they are still there to do that. This is not good news for a lot of small Turkish businesses as very often their rent is paid in dollars, euros or sterling.

JF

[Taddy]

Did not mean to be flippant here.
The strong Lira may help in some way, for example where travel articles state what good value a countries currency is compared to previous years.