Kibkom North Cyprus Forum

Trump again?

I reckon it will go to 10 and settling around 7.5, the lira will struggle to climb above that until Erdoghan has gone, it reached 9 at one point yesterday. I changed some sterling last night at 8.26

saying 8.201 at the moment, none of the exchanges are giving anywhere near that now.

Best rate I could get anywhere today was 7.70 - did not bother as exchange rate via Tesco's in UK is 7.83 and that shows what the exchange places out here are doing. Can't blame them either, it's a tough life being paid in TL at this time!!

Got 7.06 this morning (9.30am) on 500GBP. Just as I walked out some VERY hard looking, well dressed, black sun glasses blokes walked in. Didn't stop to find out!!

I wouldn't be happy with that. on xe.com its 8.20 as I write this.

are the banks paying better than the exchange bureas?

8.04 on Revolut app right now

Indicator,
I take it the Revolut rate you mention is converting within your account. However have you used your card today Saturday to purchase goods. Whatever the rate , weekends with Revolut adds 1.5% load , but because of the volatile situation you might find 20% hedge is added until markets open on Monday.

As far as I can see there are no extra addition the rate they give you is the rate you get , once converted you can spend it as you see fit.

Indicator,
Yes, I was referring to actually using your Revolut Card to purchase goods on the day.

Just done an exchange within Revolut app @ 8.68 to the pound.

Transferwise 8.70

Difficult to compare, the rates are changing by the second!

Who are the winners in all of this?

It’s great that I am now getting more TL against my own currency, but everything in the shop and restaurants have gone up, so no better off!

I am no economist but somehow suspect that the rich people will be getting richer in all of this and the poor people will be getting poorer.

It looks as though Tesco are no longer selling Turkish Lira.
I purchased some earlier this morning at 8.1009 and wondering if the rate has changed find that the Turkish Lira is no longer an option.

Have done my bit to help the Lira managed to get 8.50 here in the UK

Can’t find a currency exchange website in the UK that will provide TL today...

You snooze you lose

This was on the site I brought mine from

Turkish lira demand

Please note: due to unprecedented demand for Turkish lira over the past couple of days, we are receiving reports that some of the suppliers below are running out of stock faster than they can update the rates they are providing us with. This means you may visit a supplier, only to find that they do not have Turkish lira available to order. We are working with all of our suppliers to clarify the stock they still have left, but in the meantime you may need to check more than one supplier if your first choice does not have lira in stock. We apologise for any inconvenience caused, and thank you for your patience while we work to resolve this issue.

Sainsbury has ran out ofLira and the Post Office was told not to sell any .This was in West London today

See it is dropping again. 7.81 at the moment.

Chriswright03 wrote:See it is dropping again. 7.81 at the moment.

I think it’s the eye of the storm.

EnjoyingTheSun wrote:

Chriswright03 wrote:See it is dropping again. 7.81 at the moment.

I think it’s the eye of the storm.

Ah... but which way is the storm blowing?

If it continues to drop back... will the price rises being reported in shops be rescinded?

Groucho wrote:

EnjoyingTheSun wrote:

Chriswright03 wrote:See it is dropping again. 7.81 at the moment.

I think it’s the eye of the storm.

Ah... but which way is the storm blowing?

If it continues to drop back... will the price rises being reported in shops be rescinded?

No

Simple economics that if you are of a certain age and from the UK you would understand. When the new potatoes came out the price in the chip shop always went up. It never went back down when they went back to the old potatoes.