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23rd May 2018, 00:33
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#1 (permalink)
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Senior Member
Join Date: Oct 2005
Posts: 1,429
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Thanked 488 Times in 247 Posts
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Lira Crash?
I would like your opinion on the current state of the Turkish Lira.
Although I know nobody has a crystal ball, do you think it will completely crash?
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23rd May 2018, 02:19
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#2 (permalink)
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stuart
Join Date: Apr 2005
Location: Turkey.
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Re: Lira Crash?
No.
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23rd May 2018, 08:35
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#3 (permalink)
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Postless Pointer
Join Date: May 2007
Location: surrey / Kuyucak
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Re: Lira Crash?
6.38 , how to define a crash , one third of value in under a year ?
Hard to stop a slow motion avalanche .
Will the election help or hinder .
Steve
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23rd May 2018, 12:08
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#4 (permalink)
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Senior Member
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Re: Lira Crash?
I can't see Erdogan allowing it to fail, (especially with election) even though he doesn't like interest rates he will have to increase as the risk of hyperinflation. He will be pressed by Turkish business to intervene hard ( though he is a maverick and blames outside influences ) but Turkish business has a lot of foreign debt so he must. After the elections, if he wins he has lots of problems sustaining Turkish Growth needed to keep his policies of mega-projects on track. The last resort would be a devaluation by floating lira to find own value (bad), that's why the firm I work for that has interests in Turkey only do transactions in hard currency.
Last edited by Camden; 23rd May 2018 at 12:19..
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24th May 2018, 15:57
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#5 (permalink)
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New Member
Join Date: May 2018
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Re: Lira Crash?
hello can I aske you?
the 100000 lira banknote still wotking? thanks ..
I cant ulpoad pic...
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24th May 2018, 18:57
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#6 (permalink)
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Senior Member
Join Date: Feb 2008
Posts: 2,065
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Thanked 1,410 Times in 760 Posts
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Re: Lira Crash?
They could suspend trading in the currency markets it has happened in the past
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24th May 2018, 19:28
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#7 (permalink)
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Senior Member
Join Date: Oct 2015
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Re: Lira Crash?
Quote:
Originally Posted by alimaroco
hello can I aske you?
the 100000 lira banknote still wotking? thanks ..
I cant ulpoad pic...
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If you have one of these, you are the proud possessor of ten kuruş !
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24th May 2018, 19:32
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#8 (permalink)
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Senior Member
Join Date: Dec 2009
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Thanked 1,734 Times in 797 Posts
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Re: Lira Crash?
Quote:
Originally Posted by bashful
If you have one of these, you are the proud possessor of ten kuruş !
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dont' spend it all at once!
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24th May 2018, 19:44
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#9 (permalink)
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Senior Member
Join Date: Mar 2010
Location: TRNC as of 28.5.2014
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Re: Lira Crash?
Oh I Remember those days, you went out with a bag full of lira. which was probably worth a tenner . xx
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24th May 2018, 20:11
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#10 (permalink)
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Postless Pointer
Join Date: May 2007
Location: surrey / Kuyucak
Posts: 20,916
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Thanked 27,076 Times in 11,992 Posts
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Re: Lira Crash?
Quote:
Originally Posted by suecheshireuk
Oh I Remember those days, you went out with a bag full of lira. which was probably worth a tenner . xx
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Came back home with a pocketful of loose sweets . LOL
Steve
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