Lousy exchange rates

cranfield · Post by **cranfield** » Wed 01 Jan 2020 10:49 am

What the hell is going on ?

The TL exchange rate is in free fall .....

So i convert my UK pension to TL - and yipee get more TL every month - so win win - until i then try and buy food and the cost has gone up - so very quickly - it's "loose loose" .....

is 10TL to the pound on the way ?

or can we look forward to the days when it was 2.30 to the pound ?

stereotomy · Post by **stereotomy** » Thu 02 Jan 2020 5:56 am

Welcome to 3rd world problems

I would rather worry about the high commission rates of the exchange offices though. transferwise.com will give you the best rates. they have an app too.

EnjoyingTheSun · Post by **EnjoyingTheSun** » Thu 02 Jan 2020 6:01 am

Re commission rates, a Revolut card would be a wise investment.
Yes it will hit 10 TL at some point but I don't know when but I wouldn't bet against 9 this year. I would guess the recent movement is to do with the interest rate cut so it will be interesting to see how much the TL will fall and at what point interest rates will go up.

laptatony · Post by **laptatony** » Thu 02 Jan 2020 8:07 am

Another factor affecting the TL has been the sanctions and threat of more sanctions from the US.

cranfield · Post by **cranfield** » Thu 02 Jan 2020 12:01 pm

Worsening today .....