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
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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.
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It's the first time the lira has been trading at over 7.00 to the pound since mid November.
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The tax relief on savings has finished now could this be anything to do with it?
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It's recovered a bit this afternoon. Now at 6.994. ;)
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Ooh from a purely selfish point of view I was hoping for it not to recover any time soon! ;)
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Me too. Got a couple of large bills to pay. ;)
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6.95 yesterday at ING Bank.
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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
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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.
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to much state influnence by any state mucks banking systems: watch china as they move currency value
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Poor day today for the lira - 7.05 to 7.16, now at 7.154
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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
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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
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7.27 this morning. Just a couple of weeks until the elections.
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A sudden slip to 7.61 at close of business on Friday.
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Yes amazing yesterday - lost nearly 8% of its value against the pound in one day.
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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
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Well, we're at an even slipperier 7.78 for the start of May.
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7.79 as I type 😱
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Our local Turkish Barber here in Northern Ireland told my husband yesterday it will be 8 by the weekend and he should know 🤣
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I predicted it would be down to 7.50 by May and got poo-poo'd. ;)
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Greasy pole v Barber’s Pole
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7.845 !
Any thoughts on whether it'll go to 8.00 next week ?
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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. :)
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Tickling just under right now
(https://uploads.tapatalk-cdn.com/20190506/9efadd137e13789d009f819f00f26ca8.jpg)
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That'll be because there's to be a re run of the election in Istanbul.
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(https://uploads.tapatalk-cdn.com/20190507/73eed7a3c571705e4e06a4ea28932a96.jpg)
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Just did a little at 8.10 :)
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Gone up now.
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Yep - in the 7.40’s this morning.
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What is going on Iv watched it going down and down today does the upcoming Bayram holiday have any influence on this just curious!
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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.