It's cos the interest rate was reduced by a quarter point last week. Interesting that this resulted in around a 2.5% change in the lira to the £. And there's more to come. The new head of the Central Bank has a target to reduce the inflation rate down to 5%. If that happens then interest rates 'may' fall to around 8% - 10% and the exchange rate will weaken too. Ok if you're a tourist as your £ will buy more or an exporter as your goods will be cheaper, but not so good of you have all your cash in the lira and are living off the interest (as many are). So, make the most of the high rates now while they last and spread your investment risk!