Lira getting Stronger - Why?

[wickwilly]

Apparently the deputy governor of the Turkish Central bank has just resigned. Hence throwing the Lira into even more of a downward spin. It can't be confirmed apparently because today is a public holiday!!
WW   

[JohnF]

Its actually strengthened slightly to 8.65, from 8.85 earlier in the day.  Similar with dollar and euro but I reckon its a temporary respite.

JF

[yabanci]

Another big hit for the lira today, Moody's downgraded the credit rating of twenty banks and finance companies yesterday.

But fear not, the boy says everything is rosy. 

JF

And don't listen to those credit agencies, they are just a bunch of fraudsters.

http://www.hurriyetdailynews.com/credit-rating-agencies-are-fraudsters-turkish-president-erdogan-says-136356

[JohnF]

Inflation rate jumped to 17.9%.  It's unfortunate but not surprising really.

Those "frauds" at the global credit referencing agencies are going to continue to mark Turkey, and its financial institutions, down until the government gets a grip of this.  Its interesting that, as yet, it hasn't had a major effect on the exchange rates.

JF

[Daffodil2017]

In Nicosia people are marching in protest about the price increases due to the Turkish Lira falling in value.Electricity has really increased in price.

[JohnF]

Big day for the lira tomorrow, TCB meeting to decide on interest rates.

Guesses anyone...

JF

[wickwilly]

He will probably insist the TCB keeps it the same!!!
WW

[davybill]

I reckon it will go up😎😎😍

[Scunner]

The Turkish lira will receive a strong boost against the pound soon enough. We are heading out to Calis soon and the markets always react to that news by reducing the exchange rate.

[marina]

Hope that's not October when we're out Scunner!