Lira

[Colwyn]

I think it was because the £ took a straight drop against the $ and the € both of which stay steady against TL.

[Ian]

The usual Friday feel good factor - nothing more scientific than that   

[corbindallas]

I think the rate will drop to around the 3.20TL to £1 mark end of April seems things are turning now as elections approach it will go up again then decrease in the honeymoon period after. Seems a .15 change in a few day is not unusual and also the news on the currency markets is Lira is looking a good buy now so they must reckon it is going to start strengthening soon.

[Scunner]

Another poor day for the lira so far - lost a full 1% against the GBP and now edging over the 'significant' milestone which is 3TL/€.

[Colwyn]

Stock market also falling.

[JohnF]

Kinda wondering if the TCB has now done its dough and this is the result...?

JF

[Colwyn]

Latest economic data published this morning show Turkey's already large current account deficit got worse in November. Turkey now needs even more international inflows to remain buoyant and still no sign of interest rate rise. We'll see what happens on the 21st.


http://uk.reuters.com/article/2014/01/14/markets-turkey-idUKL6N0KO0WG20140114

[Scott and Lisa]

http://www.bbc.co.uk/news/magazine-25548060

a bit of optimism

[Colwyn]

I heard the economist who coined MINT being interviewed a few days ago. Unfortunately, despite it being quite an extended interview, the interviewer lacked the intelligence and/or knowledge to ask for comment on what has been happening in Turkey since mid December and whether or not it put put a dent in his headline-grabbing prediction.

[Colwyn]

The TL took another dive this morning. Now $ is through 2.2, the € through 3, and the £ through 3.6. Will the CBank be able to claw this back during the day?