Calis Beach and Fethiye Turkey Discussion Forum

Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: KKOB on January 09, 2019, 07:58:26 AM

Title: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on January 09, 2019, 07:58:26 AM
Turkey’s lira slid after President Recep Tayyip Erdoğan slammed the United States for its support of Kurdish militants in Syria and refused to meet with a senior U.S. official.

The lira fell to as low as 5.5 per dollar and traded down 2.1 percent at 5.49 against the currency at 4:58 p.m. in Istanbul.

https://ahvalnews.com/turkish-lira/turkish-lira-slides-renewed-tensions-united-states

The TL is at 7.00025 to the £ on xe.com this morning.
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: yabanci on January 09, 2019, 08:35:19 AM
It's the first time the lira has been trading at over 7.00 to the pound since mid November.
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: Karennina on January 09, 2019, 10:06:56 AM
The tax relief on savings has finished now could this be anything to do with it?
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on January 09, 2019, 16:16:26 PM
It's recovered a bit this afternoon. Now at 6.994.  ;)
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: Karennina on January 09, 2019, 17:56:52 PM
Ooh from a purely selfish point of view I was hoping for it not to recover any time soon!   ;)
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on January 09, 2019, 18:48:59 PM
Me too. Got a couple of large bills to pay.  ;)
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: jackstee on January 12, 2019, 09:34:19 AM
6.95 yesterday at ING Bank.
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on January 14, 2019, 16:15:36 PM
President Trump warned Turkey on Sunday of economic devastation if it attacks Kurdish forces in the wake of the US troop pullout from Syria, while also urging the Kurds not to 'provoke' Ankara.

https://www.dailymail.co.uk/news/article-6587917/Trump-warns-Turkey-economic-devastation-hits-Kurds.html
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on February 26, 2019, 19:43:37 PM
Ratings agency Moody’s joined Standard & Poor’s in warning the Turkish government about the measures it is taking regarding the country’s banking industry.

Moody’s said on Monday that decisions leading to Turkey’s three biggest state-run banks lending at below market rates and under current levels of inflation were credit negative for the banks.

https://ahvalnews.com/turkey-banking/moodys-joins-sp-warning-turkey-about-banks

It's at 7.046 on xe.com tonight.
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: c1 on February 27, 2019, 16:52:15 PM
to much state influnence by any state mucks banking systems: watch china as they move currency value
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: Scunner on March 06, 2019, 22:55:19 PM
Poor day today for the lira - 7.05 to 7.16, now at 7.154
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: yabanci on March 07, 2019, 08:59:23 AM
Yet the Turkish Central Bank kept Interest Rates unchanged, for the fourth month in a row.

https://www.dailysabah.com/finance/2019/03/06/turkeys-central-bank-keeps-policy-rate-unchanged-at-24-percent
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on March 07, 2019, 10:32:27 AM
The rosy picture drawn by Treasury and Finance Minister Berat Albayrak is nowhere close to the real economic situation. Thus, the guessing game about the lira’s performance for the second half of the year continues.

https://ahvalnews.com/turkish-lira/turkish-lira-likely-under-pressure-after-elections
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on March 14, 2019, 09:15:49 AM
7.27 this morning. Just a couple of weeks until the elections.
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on March 23, 2019, 09:34:26 AM
A sudden slip to 7.61 at close of business on Friday.
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: Scunner on March 23, 2019, 10:05:25 AM
Yes amazing yesterday - lost nearly 8% of its value against the pound in one day.

Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on March 23, 2019, 11:28:35 AM
Ahh, here's the reason. According to The Boy Blunder, there's been a "disinformation campaign, especially on social media".

The minister’s claims jarred with statements by the central bank, which published data on Thursday showing an unexpected $6.3 billion drop in foreign currency reserves over two weeks, leaving reserves at $28.5 billion.

https://ahvalnews.com/berat-albayrak/turkey-finance-minister-blames-lira-slide-social-media-manipulation
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on April 30, 2019, 20:48:23 PM
Well, we're at an even slipperier 7.78 for the start of May.
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: stoop on May 01, 2019, 12:50:44 PM
7.79 as I type 😱
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: DianaJ on May 01, 2019, 19:51:15 PM
Our local Turkish Barber here in Northern Ireland told my husband yesterday it will be 8 by the weekend and he should know 🤣
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on May 01, 2019, 21:20:06 PM
I predicted it would be down to 7.50 by May and got poo-poo'd.  ;)
Title: TL Sliding Down The Greasy Pole Again ?
Post by: Scunner on May 01, 2019, 22:02:07 PM
Greasy pole v Barber’s Pole
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on May 03, 2019, 16:52:44 PM
7.845 !

Any thoughts on whether it'll go to 8.00 next week ?
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: Scunner on May 03, 2019, 16:59:20 PM
Our local Turkish Barber here in Northern Ireland told my husband yesterday it will be 8 by the weekend and he should know

Tell him not to hang up his scissors just yet.    :)
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: Scunner on May 06, 2019, 18:09:07 PM
Tickling just under right now


(https://uploads.tapatalk-cdn.com/20190506/9efadd137e13789d009f819f00f26ca8.jpg)
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: Menthol on May 06, 2019, 23:18:12 PM
That'll be because there's to be a re run of the election in Istanbul.
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: Scunner on May 07, 2019, 06:15:22 AM
(https://uploads.tapatalk-cdn.com/20190507/73eed7a3c571705e4e06a4ea28932a96.jpg)
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: stoop on May 07, 2019, 10:09:02 AM
Just did a little at 8.10  :)
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: charlste on May 30, 2019, 11:09:17 AM
Gone up now.
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: stoop on May 30, 2019, 11:34:01 AM
Yep - in the 7.40’s this morning.
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: Karennina on May 30, 2019, 16:54:47 PM
What is going on Iv watched it going down and down today does the upcoming  Bayram holiday have any influence on this just curious!
Title: Re: TL Sliding Down The Greasy Pole Again ?
Post by: KKOB on May 30, 2019, 17:11:32 PM
It's more than likely because the £ is 'trading flat' at the moment because of all the Brexit fears. I doubt that the Bayram holiday is going to have an effect.

It'll be very interesting to see what happens after the rerun of the Istanbul elections on the 23rd June.