Mike & Hilary
I guess you are new to Turkey & the exchange rates. LOL
If anyone wants to see what has happened over the past 12 years - take a look below.
Echange rates taken 1st January each year.
Jan 94.... 22,074 Lira to £
" 95.... 60,853 "
" 96.... 94,428 "
" 97.... 185,586 "
" 98.... 342,846 "
" 99.... 518,771 "
"2000.... 878,414 "
" 01...1,003,537 "
" 02...2,142,037 "
" 03...2,689,696 "
" 04...2,546,403 "
" 05...2,628,116 " or 2.628YTL
" 06...2,326,822 " or 2.326YTL
The last 3 years have gone the opposite way to 'normal' for the Lira.
I remember the times of 100% inflation well as I was going to Turkey before this chart started.
Is the economy 'really' that much sounder now OR is the stability artificial?
I know the USA have given Turkey lots of loans - because of them allowing them to land troops.
Is it these loans that have stabalised the economy?
Inflation is still in double figures - so where will the Lira stabalise?
Dippz - appreciate your input.
I was looking at investing money once it reaches 3.00 but doing some homework this morning , now I'm not so sure.
Linda