Very subdued atmosphere in the Bank

sophie · Post by **sophie** » Wed 29 Aug 2018 10:26 am

I went Into mine this morning and it was as quiet as the grave. It was actually the quietist I've known in 9 years. One or two Russian men in suits talking in hushed voices to other men in suits the other side of the counter. Then I realised why - lira gone to over 8 to the pound. Decisions, decisions!!

Maisiemoo · Post by **Maisiemoo** » Wed 29 Aug 2018 7:09 pm

I changed 5000tl end of May and got roughly £800, if I had left it until now I would have lost £200. It is a hard decision because who knows how things are going to go, you just have to decide what is right for you!

EnjoyingTheSun · Post by **EnjoyingTheSun** » Thu 30 Aug 2018 7:52 am

Looks like another interesting day for the lire up from 8.17 to 8.51 as I write. 6.5 to the $

sophie · Post by **sophie** » Thu 30 Aug 2018 9:12 am

Popped in to see my Exchange man first thing this morning and he said that Central Bank and Turkey have warned it will increase by at least another15 -20 Kuros tomorrow or certainly Monday. Not sure how you can determine what rates will be in force 3 or 4 days in advance, I thought the money markets altered virtually by the minute.?

EnjoyingTheSun · Post by **EnjoyingTheSun** » Thu 30 Aug 2018 9:27 am

sophie wrote:Popped in to see my Exchange man first thing this morning and he said that Central Bank and Turkey have warned it will increase by at least another15 -20 Kuros tomorrow or certainly Monday. Not sure how you can determine what rates will be in force 3 or 4 days in advance, I thought the money markets altered virtually by the minute.?

Money markets do except for weekends, as generally one market is open through the 24 hours.
Think today is a Bayram so I guess that's why he mentions Friday/Monday.
I'm guessing that maybe they have burned through the Qatar money already.
Until they raise intetrest rates everything else they are doing is painting the lifeboats on the Titanic.