TRNC. Turkish Lira Sterling exchange rate

dougskud



Joined: 04/04/2008
Posts: 356

Message Posted:
15/07/2011 23:25

Looking at the present rate it is 2.668 and has been creeping up over the last two weeks.



Will we see 2.7 before the end of July?



regards

Doug

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
19/07/2011 22:58

hope not!!

zerochlor


Joined: 03/04/2009
Posts: 4024

Message Posted:
19/07/2011 23:18

I changed from sterling 4 weeks ago when it hit 2.620,i thought it was going to drop a week or 2 later,now its on the rise again,i was told last week its going to hit 2.7 and then drop like a bag of spudz.



Heres hoping.

JohnW


Joined: 23/04/2009
Posts: 601

Message Posted:
19/07/2011 23:40

http://www.xe.com/currencycharts/?from=GBP&to=TRY&view=10Y

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
19/07/2011 23:59

Hope it does drop, but who told you?

how188


Joined: 10/07/2010
Posts: 158

Message Posted:
20/07/2011 10:08

Sorry guys, why do we want it to drop like a stone?

Try living in the uk and coping with the Euro!!

Stability of exchange rates is the nivarna?

Pippie


Joined: 02/12/2009
Posts: 1288

Message Posted:
20/07/2011 10:10

Anyone know what the rate today at the exchange bureaus in town?

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
20/07/2011 10:11

http://www.monexcyprus.com/

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
20/07/2011 11:24

Msg 6,

Anyone with money in the bank in Lira really need it to fall otherwise their money is getting less and less should it be converted back to Sterling

Whistler


Joined: 28/07/2008
Posts: 1332

Message Posted:
25/07/2011 10:09

It`s now hit 2.8 !!!!!!

Zerochlor, keep us up to date please.

Goonerboy


Joined: 01/04/2009
Posts: 723

Message Posted:
25/07/2011 10:12

More likely to see 3 rather then 2.7 or lower, short term anyway

JohnW


Joined: 23/04/2009
Posts: 601

Message Posted:
25/07/2011 10:20

The technical traders who follow the charts would tell us that the price rise is likely to meat some resistance around 2.8.

http://www.xe.com/currencycharts/?from=GBP&to=TRY&view=5Y



Her is todays chart. The chartists would expect maybe three peaks here. If they are rising then onwards and upwards it is. Self fulfilling really.



http://www.xe.com/currencycharts/?from=GBP&to=TRY&view=12h



I am somewhat confused at the moment about which will be best over the next couple of months, Euro, Dollar or Sterling as they all seem to be heading for disaster. Any ideas anyone?

bondyboy


Joined: 15/05/2009
Posts: 67

Message Posted:
25/07/2011 10:31

pulled out big loss .could go to 3 again

Goonerboy


Joined: 01/04/2009
Posts: 723

Message Posted:
25/07/2011 10:32

Whilst the deficit remains as it is, and the bank refuses to raise rates, it's unlikely to meet much resistance.



As turkey is using the Dollar as the benchmark I'd see the Lira likely to go to 1.8 or even 1.9 short to medium term, which would push the lira around the 3 mark.

Geoff1131


Joined: 12/07/2007
Posts: 276

Message Posted:
25/07/2011 10:40

If Congress does not agree to raise the national debt level by next week, the dollar could collapse and we could see the lira go above 3 to the pound.

gazmufc78


Joined: 03/09/2009
Posts: 366

Message Posted:
25/07/2011 11:27

current exchange rate 2.775tl.

dougskud



Joined: 04/04/2008
Posts: 356

Message Posted:
25/07/2011 11:32

Hi All it is now at 2.804



Interesting comments posted above logic would suggest there will be a resolution of the USA issue so I think a 3 lira rate is unlikely



doug

pc4854


Joined: 23/08/2009
Posts: 243

Message Posted:
25/07/2011 11:35

What's the panic? What goes up usually comes down. In next to no time at all it will be 210 to the £ and everybody will be hoping it will rise. Just enjoy the rate if it suits you.

JohnW


Joined: 23/04/2009
Posts: 601

Message Posted:
25/07/2011 11:40

TL/$ Chart : http://www.passion-trading.com/forex/forex-charts-try.html



Gold/$: http://www.passion-trading.com/forex/spot-gold-charts-xau.html

dougskud



Joined: 04/04/2008
Posts: 356

Message Posted:
25/07/2011 11:40

Hi pc4854



Good advice, but if we can see a 2.9 rate now after an extended period of the lowest sterling interest rates in history, this time next year with the bank rate starting to increase as we attack inflation I can see the 2.8 to 3 becoming quite a stable exchange rate. That said your advice remains very sensible.



regards

Doug

Fawkes


Joined: 18/07/2011
Posts: 86

Message Posted:
25/07/2011 11:44

2.78 today at karacum

madturk


Joined: 25/03/2009
Posts: 217

Message Posted:
25/07/2011 12:01

So would you change £20k into lira and bank it at 8%

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
25/07/2011 12:11

If you have bundles of Lira then you just have to sit it out,

bigOz


Joined: 29/09/2010
Posts: 1244

Message Posted:
25/07/2011 13:44

As a counter measure, Central Bank of Turkey has stopped purchasing all foreign currency as from today as well as reducing interest rates on deposit accounts for foreign currencies by 1 to 2%

I just cannot see how a stronger dollar or Euro will help the related countries' sick economies!

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
25/07/2011 14:58

whats the panic theres not a lot anyone can do about exchange rates..they will continue to change...if you put all your pounds into lira for a higher rate that does indicate the pound is a stronger currency,,you cant get higher rates without risk you cant have it both ways. In the end it is the big financial institutions who are more likely to make money on buy sell speads and forward purchasing. Individuals who post on here like most other people dont have any answers to exchange rates OK occasionally you may guess correctly but more often you will get it wrong.

gazmufc78


Joined: 03/09/2009
Posts: 366

Message Posted:
25/07/2011 16:19

Why has the money exchange web site gone down? Have they run out of Lira?

harita


Joined: 14/08/2008
Posts: 1343

Message Posted:
25/07/2011 17:13

Not down .. 2.79 at the moment

geetee53


Joined: 11/01/2011
Posts: 42

Message Posted:
25/07/2011 18:17

2.81 promoted on XE currency exchange

Navek



Joined: 01/06/2008
Posts: 2656

Message Posted:
26/07/2011 12:24

£1 buys 2.800 TL

2.830 TL buys £1 @ 12.25 26th July

http://www.monexcyprus.com/?cyprus44

Great for all the holiday makers

Navek

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
26/07/2011 13:09

Not so good for those with Lira in the bank though, i would expect it to go down soon

Stonehousepub


Joined: 21/05/2009
Posts: 755

Message Posted:
26/07/2011 18:28

Last time this happened many local banks went down... Lets hope the lira gains strength soon otherwise the TRNC could be in for a rough ride....

Fawkes


Joined: 18/07/2011
Posts: 86

Message Posted:
26/07/2011 18:42

Stonehousepub Message 31 Not true it went 1pound =3 .20tl not to long ago and no banks failed

raidercruise


Joined: 07/06/2010
Posts: 237

Message Posted:
26/07/2011 20:06

1 Pound = 2.83 TL

harita


Joined: 14/08/2008
Posts: 1343

Message Posted:
26/07/2011 20:16

Fawkes .. Think you will find it was 3.02TL to the £ .. For 1 day only ..

JohnW


Joined: 23/04/2009
Posts: 601

Message Posted:
26/07/2011 20:53

I seem to remember that it was briefly 3.10 Ytl to the £ late in 2006.



http://www.xe.com/currencycharts/?from=GBP&to=TRY&view=10

Stonehousepub


Joined: 21/05/2009
Posts: 755

Message Posted:
28/07/2011 14:35

Fawkes



There are institutions that are already in trouble do to the Turkish Lira loosing so much value, if this trend continues for the next 3months as predicted, the broader picture could mean very serious problems for the TRNC banking system, large companies and the general public. Especially those who have very large loans in Dollar, Pound or Euro...



Let's hope the TL gains some value soon

Stonehousepub


Joined: 21/05/2009
Posts: 755

Message Posted:
28/07/2011 14:37

1.00 gbp = 2.720 tl 14.38

nurseawful



Joined: 06/02/2009
Posts: 5934

Message Posted:
08/08/2011 14:37

£1 now worth 2.86tl



Chris

bondyboy


Joined: 15/05/2009
Posts: 67

Message Posted:
08/08/2011 14:42

3 would be a good rate easy to work out

cyprusLulz


Joined: 01/08/2011
Posts: 113

Message Posted:
08/08/2011 15:10

http://www.monexcyprus.com/ 2.84

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
08/08/2011 15:57

Could be 3tl=£1 by the end of the week

saucyboy69


Joined: 09/02/2008
Posts: 111

Message Posted:
08/08/2011 16:44

Can anyone tell me what rate you are getting from the exchange places around Girne at present please.



Pete,

harita


Joined: 14/08/2008
Posts: 1343

Message Posted:
08/08/2011 17:04

saucyboy69





http://www.monexcyprus.com/?cyprus44

cyprusairsoft



Joined: 22/06/2009
Posts: 2066

Message Posted:
08/08/2011 17:16

ride it out it will go down when tourists have gone always does

bondyboy


Joined: 15/05/2009
Posts: 67

Message Posted:
08/08/2011 23:05

tl just spiked at 2.92 then came down a bit the rand just lost 3%

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
08/08/2011 23:59

Could hit the big 3 tomorrow

bondyboy


Joined: 15/05/2009
Posts: 67

Message Posted:
09/08/2011 00:02

3 would be good

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
09/08/2011 00:07

Would be a disaster for people who have their money in lira, which i would think is most....lost 25% in the last few months, will have to ride it out and wait for the fall

nurseawful



Joined: 06/02/2009
Posts: 5934

Message Posted:
09/08/2011 08:02

Just checked and now at 2.93tl to £



Chris

MrsSnakes



Joined: 19/12/2008
Posts: 1100

Message Posted:
09/08/2011 08:04

Nurse...2.83 on doviz?

bondyboy


Joined: 15/05/2009
Posts: 67

Message Posted:
09/08/2011 09:56

hit 2.98 then droped back 2.89

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
09/08/2011 10:00

Chris is right was shown 2.93 first thing this morning.

bigOz


Joined: 29/09/2010
Posts: 1244

Message Posted:
09/08/2011 13:11

If I had pound sterlings stached away I would exchange them all foır the Turkish lira and put them in a deposit account! The Dollar, Euro and Sterling are all overvalued and serve no purpose to the already downhill economies of Europe and USA. On the contrary, it would reduce the demand for their products (i.e. due to cost). I feel this is a game played by some very wealthy organisations and influential people because they have vast sums of Dollar, Eorus and Sterling they are stuck with. What a better way to change their money into more secure currencies and earn more at the same time.

All these currencies are bound to come down to their original levels. CLUE; Just look at how all three major currencies have gained value in coherence! None of them really losing anything against each other. Is it possible their economies have identical performances? I do not think so somehow!

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
09/08/2011 15:02

Big oz,

Thats what people did the last time and thats why there money they put into TL is now worth overall less.

Someone did tell me that one of the asian nations had a lot of TL they wanted to cash in. Maybe thats why Turkey has let this happen?, so they won't cash it back in right now.



The Turkish markets have also been falling all week.



Speaking with a bank manager of a Turkish bank last week, she was saying they weren't making mortages easy anymore, basically because people were failing to pay there way. They now have more kochans and missing non payers than ever before, they are reluctant to lend.

dan3006


Joined: 16/04/2010
Posts: 89

Message Posted:
10/08/2011 07:23

is this 2.93 the actual rate you are getting at the moment when you chang money? and if yes then where? and is it open on sunday as i am arriving late on saturday night and dont want to change money in the uk as we are only getting 2.65. i know i can pay my taxi driver in sterling but i will need TL on sunday for shopping and the like

nurseawful



Joined: 06/02/2009
Posts: 5934

Message Posted:
10/08/2011 07:38

http://www.xe.com/ucc/convert/?Amount=1&From=GBP&To=TRY



Dropped back down this morning unfortunately.



Dan not sure if money exchanges open on a Sunday so might be an idea to bring some TL with you, on the other hand all lot of the supermarkets will take sterling.



Chris

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
10/08/2011 09:29

I don't know a supermarket that doesn't. Rate not brilliant though.