Kibkom North Cyprus Forum

Its been a long time since the TL was below 2.80. I think the pound is quite weak at the moment so lets see how long it stays down.

The fall in interest rates is having the desired effect for Turkish government. Economically below 2.80 is better for them.

My bank interest rate hasnt changed.

Do not worry all rates are either down or coming down and there looks like a chance of rates at 7%.

I was talking about the exchange rate not the banks interest rates.

So was I, indicating why it is going down ie interest rate management by the Turkish Government.

this post is about EXCHANGE RATES

So what is the problem that I try to explain why the EXCHANGE RATES are down and will continue to go down.

Others may want to whinge that they will have less tl for their sterling and hence less beer money. EXCHANGE RATES have been kept artificially high by the Turkish government in recent months and now it is pay back time.

CH
Not sure who is whinging or has less beer money, but I am more than happy the tl is dropping as that's my currency now that I reside here.

That is ok if all your money is here but if your income comes from the uk via pensions or rental income from property there, then it makes a difference when it drops. Not for beer or fag money as we don't don't smoke and drink very little, but for every day living. So we hope it doesn't drop much further.

the butlers wife

It seems sterling is dropping in value over fears that the UK is about to lose it's AAA credit rating!