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Old 24th August 2015, 19:56   #107 (permalink)
oldfogy
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Re: Watch The Lira Now

Quote:
Originally Posted by missmo View Post
Im not educated enough to know about politics and how it effect the lira or economy we are back in the uk and have left the our savings in lira and spend them when we come over and keep hoping that it recovers, we dont need these savings at present but might need to pay for things in lira in the future in turkey, are we doing the right thing not changing our savings back to pounds and using them in turkey or is there some hidden risks at doing that.
Now is just not the time to change lira back to sterling.

But now is the right time to buy lira, but then you have to hope that when the time comes that you want to change it back to sterling again that the rate has dropped, obviously providing you are prepared to take the gamble that it does drop and does not increase.

The only time people lose or gain with Lira vs Sterling is when they exchange them, until then you are simply sitting on a time bomb not knowing what will happen or when it will happen, or IF it will happen.
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