Calis Beach and Fethiye Turkey Discussion Forum

Turkey Related Subjects => Cost of Living in Turkey => Topic started by: glennat on June 22, 2005, 09:06:44 AM

Title: Exchange rate fluctuation
Post by: glennat on June 22, 2005, 09:06:44 AM

Hi,

Is the exchange rate going down for a reason (bank interest rates dropping - perhaps[?]) or is this a normal, seasonal low[?]  When I was last out in Turkey, May last year, the rates were 14% higher than they are at present.

Glen

Title: Exchange rate fluctuation
Post by: loz on June 22, 2005, 09:56:38 AM

The Turkish Gov are working with the IMF and are hoping to have interest rates down to 12% by 2006 or lower. The exchange rates are also down due to a stronger economy and working towards a better infrastucture.
To enable Turkey to better the economy the IMF have set out new guidelines, therefore making Turkey tighten it financial belt to achieve the targets set out.

Title: Exchange rate fluctuation
Post by: glennat on June 22, 2005, 11:38:52 AM

Hi Lorraine,

Thanks for that.

Is there a feel for where the exchange rate will end up?

Glen