Lira going up....any reason ?

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
09/12/2010 13:01

2.36 today........gone up a bit in the last couple of weeks.

erictheviking


Joined: 14/05/2010
Posts: 32

Message Posted:
09/12/2010 13:22

maybe something to do with the euro

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
09/12/2010 13:34

I think that it should read Lira going down, £ rising!?



Richard

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
09/12/2010 13:44

Its the big, big, Bamboo, working for the Yankee Dollar !

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
09/12/2010 13:56

sterling is rising because of favourable UK growth results but don't worry it'll probably be back to 2.32 by the weekend at the latest

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
09/12/2010 17:14

Good for some...not so good for others.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
09/12/2010 17:17

Eager

If you didn't get out of Lira when it was 2.22 to the £ you have only yourself to blame.



Richard

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
09/12/2010 17:30

If i only had a crystal ball......bought in at nearly 2.6 so not sweating at the moment.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
09/12/2010 17:35

€ has yet to see a real decline against £, cannot understand why.



Richard

YFred


Joined: 06/05/2009
Posts: 1471

Message Posted:
09/12/2010 17:37

Eager be fair. Good for most, not good for few. I would think good for all TCs who get paid in YTL.

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
09/12/2010 17:38

Yfred...not good for me either, but swings and roundabouts i'm afraid.

BrightonJim


Joined: 27/07/2010
Posts: 145

Message Posted:
09/12/2010 18:32

I have read in the UK financial press that Turkey wants to keep exports competitive and the Tl at 2.25/2.30 makes this difficult. There is talk of a devaluation, not because it is being forced upon Turkey but because she regards it as being in her interests.

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
09/12/2010 18:43

Sterling is actually weakening against most currencies today and there seems to be no particular reason for the TL weakening apart from it being risky during a period of uncertainty.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
09/12/2010 18:56

Msg 12

I've always thought, taking into account Turkey's debt/military expenditure the real exchange rate should now be around 3.4TL to £ however, the US bails out Turkey to a colossal amount which makes for an uneven 'playing field', and holds huge reserves of $ which the Turkish central bank will not offset towards the national good, lying dormant in Swiss bank accounts! Corruption shows its evil head once again!



Richard

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
10/12/2010 00:55

2.38 now.....