Sterling rate to YTL

Lemtich



Joined: 15/02/2007
Posts: 1487

Message Posted:
07/10/2008 23:33

A little good news tonight.



The sterling to YTL rate is climbing, from a low of 2.13 a couple of weeks ago, its now trading at almost 2.42 to the pound.



Link. http://www.xe.com/ucc/convert.cgi



It may be back up to 2.50 or 3 soon to the YTL, you never know.



Lem

Lemtich



Joined: 15/02/2007
Posts: 1487

Message Posted:
07/10/2008 23:35

The XE link isn't working, sorry.



Just go to the website and check it daily.



Lem

Navek



Joined: 01/06/2008
Posts: 2656

Message Posted:
07/10/2008 23:41

Hi Lemtich

Worked for me, still looking good or bad!!!



Live rates at 2008.10.07 20:34:22 UTC

1.00 GBP = 2.41860 TRY

hannah-antrim


Joined: 12/08/2008
Posts: 42

Message Posted:
08/10/2008 00:10

Hi,



At 21.59, 7/10/08 I have just checked the rate on line and its 2.28, so there is something wrong somewhere if you are saying its 2.42

Lemtich



Joined: 15/02/2007
Posts: 1487

Message Posted:
08/10/2008 00:19

Okay, lets move away from the XE Currency Exchange site.



Here's the link to the BBC website of global currency exchange rates. Scroll down and have a look at the Turkish Lira.



http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/currency/default.stm



Lem

hannah-antrim


Joined: 12/08/2008
Posts: 42

Message Posted:
08/10/2008 00:48

Thanks Lemtich, just checked link, good site



hannah

Navek



Joined: 01/06/2008
Posts: 2656

Message Posted:
08/10/2008 02:37

Here's another.



http://www.advfn.com/p.php?pid=forexqkchart&btn=updatecharts&elists=1|3|7&elists=1|3|7&curcode1=GBP&curcode2=TRY

Navek



Joined: 01/06/2008
Posts: 2656

Message Posted:
08/10/2008 02:39

I think I have the biggest link!!!

andy46


Joined: 12/09/2008
Posts: 38

Message Posted:
08/10/2008 12:54

Just got 2.41 at the Exchange Shop in Kyrenia.





Andy

paul90


Joined: 07/11/2007
Posts: 350

Message Posted:
08/10/2008 13:06

Navek - replace your long link with:

http://tinyurl.com/6alz4f

Lemtich



Joined: 15/02/2007
Posts: 1487

Message Posted:
08/10/2008 13:09

We're rocking and rolling now!



2.4872 YTL to the pound!



Lem

Lincsman



Joined: 02/04/2008
Posts: 117

Message Posted:
10/10/2008 13:46

It went back down recently, but it's up to 2.43 as we speak keep on rising!

mickey rourke


Joined: 27/08/2008
Posts: 157

Message Posted:
11/10/2008 07:36

Navek stop boasting rate now 2.46

Tatlisu4me


Joined: 26/01/2008
Posts: 436

Message Posted:
11/10/2008 09:53

Thats good news Micky, will be over shortly !!

Lemtich



Joined: 15/02/2007
Posts: 1487

Message Posted:
15/10/2008 19:43

Sterling hit 2.5 YTL to the pound today!



Lem

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
15/10/2008 20:07

Stand by for YTL price rises at places near you...

Perry


Joined: 27/01/2007
Posts: 413

Message Posted:
16/10/2008 01:40

Pikey - why ?????



Reality is that the markets are nervous about everything right now. Unfortunately Turkey is not regarded as a AAA place for investment within the capital markets arena. YTL is under a lot of pressure (hence interest rates at 18 - 20pc) due to the flight for safer places - (USD, EUR, GBP)



Hence the fx rate moving in GBP's favour. I Dont get your point on sudden price increases in TRNC on the back of this, unless you predict wholesale rises in Turkey (where inflation pressure is decreasing with the rest of the world anyway)

mickey rourke


Joined: 27/08/2008
Posts: 157

Message Posted:
16/10/2008 08:38

Pikey just likes to have his tuppence worth eh Pikey ??



Turkey's economy wasn't hit as bad as a lot of places because they didn't have the same exposure to sub prime mortgages etc as many others did, Turkey tends to lend money to citizens as mortgages up to 70% of value thus keeping things tidy so to speak, but the new lira will always fluctuate against other currencies as it has done since its inception, it is only just around two years since you were getting 3.06ytl to the £

brian24001


Joined: 23/03/2008
Posts: 606

Message Posted:
16/10/2008 08:56

BBC 'intra-day' been hovering around the 2.57 - 2.59 mark all night



http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/currency/11/11679/intraday.stm

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
16/10/2008 10:15

Turkey won't be too worried about the Lira dropping a bit as long as a large crash doesn't occur... a little cheaper for the Lira is good for business.. makes buying Turkish goods and tourism cheaper...



If a large crash occurs then they might step in to bolster the Lira so that they too don't have a banking crisis...

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
16/10/2008 11:13

pound has also been up against the euro recently.

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
16/10/2008 11:37

When Turkey reduce their interest rate the YTL will fall

authentichoccie


Joined: 09/01/2008
Posts: 481

Message Posted:
16/10/2008 12:34

2.5 YTL to the £ at the Alsancak Hut this morning!

tarry67


Joined: 16/05/2008
Posts: 1053

Message Posted:
16/10/2008 13:05

I got 2.56ytl at the bank this morning at 9.30am. It has dropped to 2.54 at the moment but seems to be holding ok.

Lemtich



Joined: 15/02/2007
Posts: 1487

Message Posted:
16/10/2008 17:48

Just had a look on XE. 2.61 YTL to the pound.



Lem

Tatlisu4me


Joined: 26/01/2008
Posts: 436

Message Posted:
16/10/2008 21:52

Keep going Lem !

NoNowt


Joined: 09/10/2008
Posts: 68

Message Posted:
17/10/2008 04:23

AFAIK, we are now at a situation in our purchase that we have yet to pay KDV(5%) and Stamp Duty(3%) on the sale contract price along with a small balance (in sterling) to the builders. We always thought these percentages would be applied on the sterling contract prices. However, we've been told that both these payments are to be paid in YTL but applied on the contract price converted to YTL at the exchange rate ruling at that time (2.40YTL). The property is in Karsiyaka. This was not good news when we were last there in August with rates hovering around 2.10 to 2.23 mostly. I'm considering now going YTL with a deposit (sub £10k) into a higher interest rate YTL account.



What do this board's experts think and also have I got my facts right re KDV and Stamp Duty ?

NoNowt


Joined: 09/10/2008
Posts: 68

Message Posted:
18/10/2008 01:12

Izzet, your system is certainly playing up! I made 2 posts last night - one above and another. Neither post brought the thread to the top of the thread list and my post above has repeated itself.



For example this thread shows only on page 2 of the list with the last post as Lemtitch 16/10/08 1952.



Time to get some decent software writers in ? LOL

andre 514


Joined: 31/03/2008
Posts: 1163

Message Posted:
18/10/2008 14:20

re: message 16



pike may be simplistically correct about ytl price rises

but currency-fall inflation operates rather more indirectly

and other factors are involved too...



a country pays more for its foreign currency imports

if its own money is falling in value

(this may also affect the uk, where the pound is low

and may be depressed further as interest rates are cut)



however a contributing factor in sparking off the credit crunch

was the inflated price of oil, which has now fallen by half

this being a quite new and highly "deflationary" influence



lastly, a serious downturn in spending tends to depress prices



so get out to north cypus now,

beat the doom and gloom and enjoy a bargain trip!



andre

Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
18/10/2008 15:03

2.59 at the hut in alsancak today

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
18/10/2008 15:14

hubby will be pleased.

(he had a large bet a few weeks ago, that the ytl would be over by christmas)

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
21/10/2008 17:01

2.66 today, what will the rate be tomorrow

Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
21/10/2008 17:03

3.00 - £ 1 soon

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
21/10/2008 17:59

"hubby will be pleased.



(he had a large bet a few weeks ago, that the ytl would be over by christmas) "



Over what... over Christmas? Over cooked? Over the moon? Or Over? Over

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
21/10/2008 17:59

Littlenige



I'm sure you are correct

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
21/10/2008 19:36

If anyone wants it I've got today's UK Banking Sector health report....

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
21/10/2008 19:45

yes please

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
22/10/2008 13:02

2.69 at 1057 UK 1257 Cyprus

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
22/10/2008 23:45

When the Central Bank of the Republic of Turkey reduce their borrowing interest rate which is very likely in the not too distant future the YTL will plummet

magicart


Joined: 05/10/2008
Posts: 985

Message Posted:
23/10/2008 00:51

Our first year here-so what goes on with the Turkish lire-its up and down more times than a brides nitie!!!