Lira getting Stronger - Why?

[kevin3]

          TL 3.84 87    and rising.

[Colwyn]

Yep, Erdogan couldn't resist having another dig at the CB and thus sent the lira back on its downward path. The £, which is having a good day all round, is through 3.855 and, less dramatically, the dollar is past 2.49 again.

[mercury]

Thank goodness we don't have to worry about it anymore... I feel for those who are still waiting to change their lira into sterling... We took a big hit a few months ago but nothing like at this rate. Phew... Hopefully we will benefit as tourists in the future. Either way this is not good for the Turkish economy... I have a few Turkish friends who are really struggling with the price increases.

[usedbustickets]

The saddest thing for my mind is that huge numbers of the Turks will vote in the coming general election for Reg and the AKP, even after this and earlier drops in the value of the lira.  Still watch for the usual Reg/Turkish explanation which is to blame some other poor bugger, and in the case of the economy step forward the independent Turkish Central Bank and the fall guy for the AKP one Central Bank Governor ... Erdem Basci.  Reg has already organised for one of his placemen judges to arrange criminal charges against poor Basci.

[yabanci]

Over 3.86 this morning.

[usedbustickets]

Blimey I have just realised that above, for the first time ever, I have shown sympathy towards a banker    

Anyway on the - unlikely - assumption that the pound remains steady, how long before we get to a 4TL to the £ ??

[JohnF]

The more interesting question to ask is maybe when do we see 5tl to the GBP...  and what do they do when it gets that bad.

JF

[kevin3]

I think the answer to that lies in the hands of honest politicians ( and there are some ) that care about Turkey.

The government are about to be devoured by the monster they created. Elections won't decide it because they

will be corrupted by the monster. The cracks are already appearing. Interesting times.

[Colwyn]

Traditional Chinese curse on your enemies: May you live in interesting times. [Not directed at you Kevin].

[yabanci]

Reg back on his familiar rant of the Central Bank being under external influences (not his) has spooked the market,along with rumours that Basci may be on his way out.Dollar at 2.51 and the pound just under 3.9.