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Old 18th August 2015, 07:36   #81 (permalink)
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Re: Watch The Lira Now

is this the start of another million to the pound
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Old 18th August 2015, 08:00   #82 (permalink)
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Re: Watch The Lira Now

Quote:
Originally Posted by IbrahimAbi View Post
I certainly do not get double what I got. When I first came here in 1984 I could buy 4 Efes Pilsens' for the equivalent of 1 pound at the local bakkal. a bottle of Çanyaka cost 2.5 pounds. The exchange rate was 500TL to a pound. 5000TL would give you a good weekend in Çesme, pansiyon , drinks and all meals included
I think thats called inflation! Your examples of alcohol are also nothing to do with the exchange rate and more to do with the desire to make it increasingly expensive via taxes.
There is still no disputing that you are still getting twice as much TL to the £ as you were. If you choose to spend it on items such as alcvohol which are heavily taxed that is a personal choice
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Old 18th August 2015, 08:21   #83 (permalink)
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Re: Watch The Lira Now

Quote:
Originally Posted by villabaris1 View Post
I think thats called inflation! Your examples of alcohol are also nothing to do with the exchange rate and more to do with the desire to make it increasingly expensive via taxes.
There is still no disputing that you are still getting twice as much TL to the £ as you were. If you choose to spend it on items such as alcvohol which are heavily taxed that is a personal choice
To some extent I agree with you about alcohol and AKP rule. The 5000 Tl also included buses pansiyons and cheap meals (like pide), coffees etc.
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Old 18th August 2015, 08:47   #84 (permalink)
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Re: Watch The Lira Now

I understand that. What I was trying to say was that if you weren't getting 4.4 to the £ and still only 2.2TL then everything would have still increased with inflation. For example, something costing you 10TL today with the current exchange rate is £2.24 but if the rate was still 2.2 it would be costing you £4.48 - hence you have double the amount of Turkish lira to spend how you choose.
Likewise, pensioners currently taking a £500 pension out of the ATM are now getting 2,200TL for it ans opposed to 1,100TL in the 2.2 days.
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Old 18th August 2015, 09:28   #85 (permalink)
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Re: Watch The Lira Now

Turkey is losing it's way , tourism is suffering , the Lira is devaluing , Artee could not give a flying ckuf , the poor people of Turkey will pay the price of his towering hubris.

And one day wonder where it all went wrong.

Steve
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Old 18th August 2015, 11:28   #86 (permalink)
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Re: Watch The Lira Now

Quote:
Originally Posted by christella View Post
is this the start of another million to the pound
I certainly hope not.

Although we had a neat little trick where by just covering the last 2 digits and add a decimal point, then gave you a lira equivalent in sterling, obviously it was not spot-on, but near enough, so a 50000tl would evaluate to being £5.00
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Old 18th August 2015, 12:38   #87 (permalink)
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Re: Watch The Lira Now

Turkey's central bank held interest rates on Tuesday after a drop in food and energy prices eased inflationary pressures, maintaining a cautious stance with one eye on political tensions that have driven the lira to record lows.

The currency hit a new low of 2.88 against the dollar.

Prime Minister Ahmet Davutoğlu is expected on Tuesday to relinquish the mandate to form the next government after coalition talks failed, raising the prospect of another parliamentary election in the autumn after June's indecisive vote.

Against that background, the bank kept its one-week repo rate at 7.50 percent and the overnight borrowing rate at 7.25 percent. The overnight lending rate remained 10.75 percent and the primary dealers' overnight borrowing rate 10.25 percent.

"Taking into account the uncertainty in domestic and global markets and the volatility in energy and food prices, the committee decided to implement a tighter liquidity policy as long as deemed necessary," the bank said in a statement.

In a Reuters poll of 12 economists, eight had expected the key one-week rate to be left unchanged and four had forecast a 50-100 basis point hike.

Central bank holds interest rates as lira tumbles
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Old 18th August 2015, 16:48   #88 (permalink)
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Re: Watch The Lira Now

Travelling to Turkey on Friday.

What will my nice crisp pound notes get me in the bank?

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Old 18th August 2015, 16:51   #89 (permalink)
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Re: Watch The Lira Now

Quote:
Originally Posted by Hunt 23 View Post
Travelling to Turkey on Friday.

What will my nice crisp pound notes get me in the bank?

Thanks


About 4.53 according to converter on left of page
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Old 18th August 2015, 17:08   #90 (permalink)
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Re: Watch The Lira Now

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Originally Posted by trevoro View Post
About 4.53 according to converter on left of page
The ways it's going, by Friday it could be anything. Xx
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