Is this the end of our cosy life

solic200 · Post by **solic200** » Sat 22 Jun 2013 8:03 pm

Turkish tl threatening to hit 4 to 5 to the pound, interest rates at banks dropping, so a vicious circle occuring as can't take tl out as would lose to much capital. I can't really see any recovery from this and some say its to do with the usa government restricting bonds and others saying its to do with the riots in turkey, but it is a worrying time and especially for the cypriot people that now have to pay their rent etc in sterling and only earn the equivelent of £400pm as a minimun wage at todays rate.

kbasat · Post by **kbasat** » Sat 22 Jun 2013 10:07 pm

whoever told you 'Turkish tl threatening to hit 4 to 5 to the pound' has lied.

TL/GBP rate saw 2.97 in late December 2011 and went over 2.90 many times in 2012.

3TL is just a psychological barrier and nothing else...

I find these sort of doomsday scenarios unfounded and completely unnecessary.

Just for reference, GBP/Euro has fluctuated within 12%, GBP/USD within 9% and GBP/TL within 11% (source: xe.com)

K.

silverfox1 · Post by **silverfox1** » Sun 23 Jun 2013 1:52 am

Great response Kemal.

Fact not fiction!

ozankoys · Post by **ozankoys** » Sun 23 Jun 2013 5:01 am

Maybe you should check with your bank as the interest rates actually went up last week, Garanti even phoned me up to tell me & another bank were able to match & then better their rate.