£ v. TL

[TRNCVaughan]

http://www.xe.com/currencycharts/?from= ... Y&view=12h
Looks like the £ is on it's way up again.
Either that or the TL is in the toilet again.

[David]

Wish the lira would strengthen

[Loobyloo]

It's not likely to strengthen because of debt, several large companies being on the verge of bankruptcy and a lack a of confidence by foreign investors

[David]

oh dear.....maybe next year then

[waz-24-7]

The GBP is governed and controlled principally my markets, investor confidence, economic forecasting and performance.

The £ has declined in strength most recently and particularly since the announcement of the brexit vote date.
The uncertainty of the vote has led to uncertainty and this frightens investors which weakens currency and indeed markets.

This is the critical pivotal point to consider in the June vote. My view is that economically an Exit will have serious negative implications upon the investment strategies and confidence of current UK investors.

[TRNCVaughan]

http://www.xe.com/currencycharts/?from= ... Y&view=12h
fighting in parliament doesn't help, I guess.
https://www.facebook.com/NBCNews/videos ... 048760288/
Love the crowd surfers.

[13roman58]

There is uncertainty about the relationship between the president and prime minister in Turkey and money markets do not like uncertainty.

[Johnny Lee]

Quite a good scrap, I actually preferred it to the photos you see of our lot in the UK fast asleep in their seats.

[David]

Unlikely to get any better with Erdo in power

[TRNCVaughan]

Pound climbing or TL falling?
Last night went to casino and noticed that exchange rate for sterling was higher than that offered by others that day.
Is this a ploy to capture punters who may otherwise go elsewhere to change money and not come back?
Free food, drink and cigarettes - all part of the same ploy?

[WotNoDeeds]

Stop the world I want to get off !

[13roman58]

The pound is set to strengthen as the referendum is showing a positive for the in campaign

[Keithcaley]

The pound is set to strengthen as the referendum is showing a positive for the in campaign

More lira - Yippee!

...although not good news for anyone getting Lira wages but paying GBP rent

[Johnny Lee]

More price rises then so no win.

[Keithcaley]

More price rises then scso no win.

I can understand that if the value of the Lira falls against the US Dollar, then retail
Lira prices of imported goods which are traded in USD, will rise, including fuel oils etc.

However, if the value of the Pound rises because of an IN vote, which shouldn't affect the value of the Lira against other currencies, why would that cause prices here to rise? - apart from UK manufactured goods, of course!

[johnny1]

the £ rise ,does it mean the in vote is on the rise too?

[terry2366]

I like the optimism of the in voters you think you have won already. Looking at most forums in the uk it's 68% to the outs on average. Oh and so as not to be off topic it was 4.26 this morning it should not affect prices surely as they put them all up when it was 4.95. So in theory it should bring them down lol.

[Keithcaley]

I like the optimism of the in voters you think you have won already. Looking at most forums in the uk it's 68% to the outs on average. Oh and so as not to be off topic it was 4.26 this morning it should not affect prices surely as they put them all up when it was 4.95. So in theory it should bring them down lol.

Hi, I really do have no idea which way it will go, and I find myself alternately swayed one way or the other by the arguments of both sides, but my thoughts were based on the statement in post 12 - although no source was quoted, so it's not verifiable. I just couldn't see, as you say, why it would affect prices here.

Unless someone has got a crystal ball, we'll all just have to wait and see, and then put up with whatever consequences ensue - while shouting "I told you so! " at 'the other side'

It's certainly got people talking though!

[David]

terry .... msg 17
4.95 when was this ?

[frontalman]

I think 4.65 was about as high as it went wasn't it?

[lee666]

On 12th September last year it reached 4.7120 but that was on XE.com, not sure what it was here.

[David]

According to the analysts its in for a rough ride and not expected to recover for a couple of years yet

[waz-24-7]

The £ has lost approx. 15% in last 3 months particularly after announcement of brexit vote. The air of uncertainty until next month is warding off investors.
Of course an out vote will most certainly drain confidence and investment further. This means investors in the Turkish lira will get less for their £1.
I am certain many savers are hoping for the days of 2.4 tl to £1. Cash in now. If we stay IN expect an other way shift as turkey is hardly a good investment at present with turmoil, unrest and consequential uncertainty hanging over its economy.

[Keithcaley]

The £ has lost approx. 15% in last 3 months particularly after announcement of brexit vote. The air of uncertainty until next month is warding off investors.
Of course an out vote will most certainly drain confidence and investment further. This means investors in the Turkish lira will get less for their £1.
I am certain many savers are hoping for the days of 2.4 tl to £1. Cash in now. If we stay IN expect an other way shift as turkey is hardly a good investment at present with turmoil, unrest and consequential uncertainty hanging over its economy.

It's being cheerful that keeps you going, isn't it?

[Becker]

Maybe I'm wrong,did it not go above 4.9 a few times last year?

[waz-24-7]

Yes it did.
This was a reflection upon the UK moving out from the 2008 recession for good. Growth forecasts have been good and the UK represented a good investment.
Consequence is the £ becomes stronger and buys more TL for your £.

[terry2366]

Cannot remember the exact month but it was when there was a problem over the Turkish election and was extremely high during the gap between elections

[Johnny Lee]

I think someone said fuel would increase. To the best of my knowledge if fuel prices increase then virtually everything we buy increases.Most things require transport.

[Keithcaley]

I think someone said fuel would increase. To the best of my knowledge if fuel prices increase then virtually everything we buy increases.Most things require transport.

Which post are you responding to?

[TRNCVaughan]

I think someone said fuel would increase. To the best of my knowledge if fuel prices increase then virtually everything we buy increases.Most things require transport.

Fuel prices haven't increased as the cost of oil has bottomed out in the period we are talking about.

[Johnny Lee]

This topic. Your comment Kieth , near my post about price rises, you say fuel oil will probably increase. I am simply saying that normally any fuel price increase means virtually everything increases. (IE transport costs.).

[Johnny Lee]

Vaughan. I did not say they had increased. ( I was simply commenting on Kieth's post, fuel prices may increase) or words to that effect. Regards Lee.

[TRNCVaughan]

http://www.xe.com/currencycharts/?from= ... Y&view=12h
If you also look at the £ v. $ and the £ v. Euro charts you will see it's the £ that's climbing not the TL that's nosediving.

[David]

I think that if and when they can get the terrorist situation under control and the new prime minister gets appointed then turkey will become a very investable country and the currency will reflect that

[rick bald]

4.27 today in Girne.

[Keithcaley]

This topic. Your comment Kieth , near my post about price rises, you say fuel oil will probably increase. I am simply saying that normally any fuel price increase means virtually everything increases. (IE transport costs.).

Hi Lee,
In that case, you have not understood what I wrote.

What I said was that if the Lira fell against the US DOLLAR, then one could expect oil prices (and others) to rise, but that I could see NO mechanism that would cause price increases in the event that the Pound strengthened as a result of an IN vote (apart from UK manufactured items).

Regards, Keith

[TRNCVaughan]

I think that if and when they can get the terrorist situation under control and the new prime minister gets appointed then turkey will become a very investable country and the currency will reflect that

I think you are asking rather a lot when it comes to terrorism. It's been with us for a while and looks like getting worse, not better.
As to a new PM, he will be an Erdogan puppet and won't help the confidence in TR.
How many coups have there been in TR in the last years?

[TRNCVaughan]

I think that if and when they can get the terrorist situation under control and the new prime minister gets appointed then turkey will become a very investable country and the currency will reflect that

You were saying about terrorism? Tell the Egyptians about how it's coming under control.

[David]

Did i say that terrorism is coming under control ..... and unless you have some inside information how do you know that the plane that has disappeared did not crash due to mechanical fault or pilot error ?

[Keithcaley]

Did i say that terrorism is coming under control ..... and unless you have some inside information how do you know that the plane that has disappeared did not crash due to mechanical fault or pilot error ?

Not joining in, just pointing out that it was reported that the plane suddenly 'swerved & then disappeared' from the radar screens- earlier reports said that it was not seen to descend. Of course, as more reports come in, knowledge of the event will be enhanced.

[13roman58]

As I said previously the in vote is now 14 points up so the pound is on its way up again

[David]

Keithcaley

Latest reports from Egyptian officials say no swerving or turning occurred before the plane disappeared and that the information provided by Greek officials was in fact false.

[kerry 6138]

As I said previously the in vote is now 14 points up so the pound is on its way up again

I'm no expert but we are constantly being told the markets dont like uncertainty, so is this the market saying nothing will change if the UK stays in ?

[Keithcaley]

Keithcaley

Latest reports from Egyptian officials say no swerving or turning occurred before the plane disappeared and that the information provided by Greek officials was in fact false.

Yes, initial incident reports are often contradictory - I see that the Egyptians are also denying a French newspaper report that there was a conversation between their air traffic control and the 'plane regarding smoke in the cockpit.

I wonder what will happen to the black boxes if the Egyptians get to them before the independent investigators do...

[Keithcaley]

I hope that it's not too confusing - having different bits of conversations on the same thread!