Lira getting Stronger - Why?

[Colwyn]

At last the question in the title makes sense. The lira has been gaining ground against the dollar all week and the £ is looking like falling below 4.00. What is going on? Today's Zaman thinks it has the answer. Recent political opinion polls predict that AKP will achieve enough votes to achieve a stable government BUT not enough to deliver the draconian constitutional changes that Erdogan wants and that would hand over power to him and away from parliament so that he could begin a sultan-like rule from the White Palace.

If true I think this is the best political news that those who love Turkey have received in a very long time. However, having just gone through an UK election where all the polls got it wrong I am not going to get too excited. In the short run though it is good news for the lira.

http://www.todayszaman.com/business_turkish-lira-set-for-strongest-week-in-a-year-as-election-fears-fade_380670.html

[micky mouse]

Exchange rate yesterday 4.60 just over 4 and a half lira to the pound great for the tourists.

[kevin3]

   Micky

  Should that be  Tl 4.06     ??

[JohnF]

No it wasn't.  It strengthened from 4.14ish to 4.08ish yesterday.

JF

[Jack13]

exchange rate in calis tonight 3.96 tyl .

[Colwyn]

Anyone with a few tenners to spare run - don't walk - over to Mickey's and have him change some money for you.

[Scunner]

This is a great topic (and as Colwyn mentioned, suddenly back on topic!). Thanks to all who offer up causes and reasons for the movements in the exchange rate. Sadly I find it fascinating

[Fran]

3.98 in Fethiye change shop today

[kevin3]

I find it very worrying that Turkeys currency, and it's value can change so dramatically purely upon

the words and actions of one person, a President, whose role according to the Turkish Constitution

is supposed to be politically neutral. It doesn't seem like an enticing situation for investors.

[Scunner]

He can say what he likes Kev, his cash is under the bed - in euros.