Lira gone to 7.6

[sophie]

Please tell me its a typing error???

[Mr B]

Just check the city saying 7.6343TL to £

[Keithcaley]

It's up and down like a yoyo - the usual Friday scramble by currency dealers and speculators trying to make sure that they don't lose any money over the weekend while they're on the golf course, I suspect

[sophie]

I think I'll have to cancel the white R reg Merc I was picking up tomorrow. What a nuisance.

[EnjoyingTheSun]

The bigger killer for the Turkish economy is the lire hitting $6

[Groucho]

No doubt Erdogan will claim it's a plot by the west to discredit him and destabilize Turkey ... State of emergency anybody?

[waddo]

Hmmm, what best to do? Change my money ito Trumps, Mays or Erdogans? Whatever happens I live here so will spend in Erdogans anyway BUT should I buy a wheelbarrow now whilst they are cheap so I can take my money to the shop with me next week or just nip South and take my money out of the ATM in Euros at banks best exchange rate then pay for my shopping here with them? The good news for me is that I have so little money to play with it really doesn’t matter much what I do - the answer lies in the sock under the mattress and how many cans of beer I have left in the fridge - lol

[sophie]

Well, the lira is 5.96 to $ at the moment, so if you're correct then its almost fireworks time!!! Now who will pay those people who rely on the Lira to live. I've had a little moan, but I do feel for the locals who sole income is in Lira.

Anyway is 36deg in the shade, the dogs are laying around the place as if they were dead, thank heaven the fridge is still working, so my big decision is a) make a Pimms b) have a large freezing cold G & T or c) have a little dance in the ballroom and listen to the orchestra whilst the ship sinks?

[mermaidsexist]

At this rate soon Mr Pound will actually be a £1 rather than a pound and a half

on a more serious note though this is disastrous for the economy

[TAC]

The best rate I can find in the UK is 7.3805
We are coming over again in October so should I buy now or wait for it to hit 10

[Groucho]

The best rate I can find in the UK is 7.3805
We are coming over again in October so should I buy now or wait for it to hit 10

Never buy in the UK... you will always get a better rate locally... but if you want to hedge of course buy half now and half later to get a mid-point....

Honestly - I'd wait and buy here...

[Mr Chinnery]

Trump has just authorised an increase in the tariffs on Turkish Steel and Aluminium. Looks like it’s going to get interesting.

[Mr Chinnery]

Here we go! Lira hits over 8

[EnjoyingTheSun]

and 6.28 to the dollar

[archie]

now 8.7

[lilnrob]

now 8.10

[sophie]

Erdogan has just announced to the Turkish people "they have their dollars, we have our god" Make of that what you may.

[Mr Chinnery]

Yes and he is about to make another speech shortly to steady the ship.

Reverse all engines Mr soolo, I am trying Captain but it’s just not working.

[waddo]

Fear that "The Ship" will become very steady as soon as it hits the bottom!!! Now at 8.36 it has not got far to go!!

[Mr Chinnery]

Turkish Lira has surpassed the Argentine peso as the worst performer in 2018, Can it get any worse? You bet.

[Kanonier]

TL 8000 to 1 Reichsmark.

[waddo]

Bring on the wheelbarrow!!!

[EnjoyingTheSun]

Yes and he is about to make another speech shortly to steady the ship.

Obviously not noticed that every time he opens his mouth the lire drops another dollar

[TAC]

Yes and he is about to make another speech shortly to steady the ship.

Reverse all engines Mr soolo, I am trying Captain but it’s just not working.

Best one so far

Turkish President Tayyip Erdogan has "reached for the crazy stick and given the lira another whack in a rambling speech that focussed more on combative rhetoric than addressing market concerns," says Ranko Berich, head of market analysis at Monex Europe.

"Normally when a currency falls 10% in a day, political and monetary authorities scramble to promise fiscal discipline and central bank independence," he says.

"There’s a whole universe of puns and jokes to be made about today’s events, and Erdogan’s speech crossed well into farcical territory when he asked supporters to look under their pillow for FX reserves.

[sophie]

Don't you just luv 'im. People here are going to go hungry and he comes out with such total rubbish.

[madeincyprus]

XE showing 8.20 this morning. Exchange shop giving 7.5. just been to village shop and a carton off Koop is now 6tl. Getting a little crazy now

[Southern belle]

It was showing 7.88 on travel money websites to book online in the UK yesterday, seems higher than some places in Turkey and the TRNC were giving. A friend of ours got 7.3 in Antalya yesterday.

[mermaidsexist]

i got 7.77 yesterday yet on xe exchange website it showed the exchange rate as 8.23. (yes was seconds later as well) someones pocketing somewhere, although 7.7 is still a fantastic exchange rate, wheres the rest going?

[Holly]

Changed sterling Alsancak this morning 8 tl to pound

[EnjoyingTheSun]

Changed sterling Alsancak this morning 8 tl to pound

Whereabouts?

[TAC]

Best rate UK at the moment is 7.9146 it did go up to 8 early today

[Reyntj]

Erdogan has been talking again today to a crowd somewhere or other if the fx market was open the tl would be going down. Hes not backing down just carrying on with his and by proxy the central bank view that high interest rates are the enemy and should be kept as low as possible and theres an economic war being waged against turkey where the euro dollar and gold are the bombs missiles and cannonballs. This talk is going to further weaken the tl . Im expecting 10 tl early next week now . Awful situation for trnc to be in its going to end up very quickly as a third world country.

[Reyntj]

https://www.reuters.com/article/turkey- ... SL5N1V30L7

Tl trading at 7.06 to the $ in asia at the moment .....thats about 9 tl to the pound .

[Mr Chinnery]

Unfortunately it’s all going to end in tears.

[sophie]

Mr Chinnery, one mans tears is another man laughing all the way to the gold market