Lira getting Stronger - Why?

[c1]

see what happens if and when, USA increases interest rates. I reckon after November interest rates will have to move sharply up in Turkey from around 10% to 15% this will be blamed on Alcohol, or the west, or Kurds etc. not on the poor leadership in Turkish government

[JohnF]

Kinda depends who (if anyone) is in power come November.

Looks like the lira is on a slide again after gaining a bit of ground back against the pound and the dollar at the start of the week.  Some analysts are suggesting that the kidnapping of the Turkish workers in Iraq may be giving the markets jitters over the lira.  Reckon we'll just have to wait and see how little Reginald handles this one...

JF

[JohnF]

Looks like the Asian markets have lost faith in the lira as well, it dropped like a stone when they opened this morning.

Reckon the security situation is the driving factor - curfews now imposed in several towns, soldiers killed in PKK attacks in Hakkari, Polis killed in Diyerbakir and to top it off, a number of municipalities in the east are saying they are going to "self rule".

JF

[kevin3]

  Given the repression of justice and media, and the current turmoil nationwide i'm surprised the G20 summit in Turkey is going

  ahead. But there again given the current standard of world leadership, perhaps I shouldn't be.

  It's  TL 4.63 to the £ at the moment.
   

[yabanci]

Lira just hit 4.70 to the pound on XE.

[KKOB]

Jew1971 has posted in the Side Forum on Trip Advisor that they got 4.83 last night.

[kevin3]

  Jew must be joking.     

[stoop]

Our friends got 4.55 in Calis yesterday.

Exchange rate 4.73 as I type but tourists won't get that.

[KKOB]

I'm sceptical at the 4.83. Nobody else down there has commented on it yet.

[usedbustickets]

Just clicked over to 4.74... but never mind the sinking lira, Reg has organised for his loyal place men to dominate the AKP against those 'enemies within' the AKP who might threaten his position running up to and after the General Election.