Currency

[dksbbs]

The Turkish government have lowered the interest rate this has had the effect that it has made the lira weaker hence the £vLira is at its best rate since January 2010, long my it continue, it would be nice to get back to the old days of 2.6 to the £


Dave

[viking pete]

Just noticed good exchange rate currently availlable (2.35) certainly better than my two visits in 2010.

Are we expecting good rates throughout 2011 or is it worth squirriling a bit away for the summer ?

Pete

[carol0912]

Where did you see that, Pete. Good rate. I would go for it. Cant see a great rate for this year. Seems to be falling year after year.

[Katiehutchinson_1991]

yeah i agree i cant see the rate being that great this summer either
hope im presently surprised
xxxx

[viking pete]

Where did you see that, Pete. Good rate. I would go for it. Cant see a great rate for this year. Seems to be falling year after year.

Hi Carol, saw it in a shop window in Hull City Centre this lunchtime, checked it out on moneysavingexpert.com and some where offering upwards of 2.40 - think i will raid the savings jar !

Pete

[kez&sue]

hi i think its always a gamble knowing whether to change money now or wait untill your there last year in very early september we were getting 2.35 for about five days then the rate started to drop slightly i dont think we will ever scale the dizzy heights again but 2.35 or slightly under isnt to bad really

[adewolves]

Someone posted on here not so long ago saying that Turkey had lowered their interest rates, which would normally mean we would get more Lira to the pound. Hope it is in the summer. You always seem to get a better rate this time of year, it's a pain though as it's a time most people struggle with their finances after xmas, so can't afford to take advantage of the better rates.

[unitedman57]

anyone in manchester goldman sterling are offering 2.35 at the moment

[duffaire]

On Universal Currency they are quoting 2.42

[dksbbs]

The £ is currently stonger than it has been since 2009 against the Lira, current bank rate 2.46,

I have read that the Turkish banks are meeting again next Thursday (20th) and its being predicted that they will lower the interest rates which should have the effect of weakening the lira further so I think we will see 2.5-2.6 very shortly.

Fingers crossed


Dave

[sueles810]

Hi Dave, that would be good news indeed, funny enough we were sorting through some paperwork and found and old printout of a currency converter for 2003 and the lira was 2.569, that would nice again
Sue

[viking pete]

Thanks Dave, I had started another thread re the good exchange rate at the moment, was thinking of getting a couple of hundred whilst it was 2.35 in the High Street.
Would be sense to wait and see if the 20th January decision brings more good news.

Pete.

[dksbbs]

No announcements yet on the interest rate due today but the lira has weakened over the last two days in antipation of the expected rate cut, Interbank rate is currently 2.4830 (11.51am) which is the best rate since 2nd December 2009. For info last time is was over 2.6 was October 2008.

Bupa today are offering a rate of 2.387

[dksbbs]

There must have been an announcemnet but I can't find it yet, The lira shot up to 2.505 from 2.4830 in a 15 minute period, now 2.50840 since starting this message that a devaluation of 1.23% today so far.

Dave

[reesy1959]

Oooh maybe time to go and change a few hundred pounds for June.

[dksbbs]

Interbank rate now 2.52, its climbing nicely.

[dksbbs]

Announcement on interest cut at http://www.marketwatch.com/story/turkey ... 2011-01-20

Dave

[viking pete]

well done Dave and the Turkish govt - Looks like I will be raiding the piggy bank soon

Pete

[Rew]

It's gone above 2.5 today (2.515 mid market)

Haven't seen it this high for a couple of years keep going I say!

[lechy123]

interesting article re the Turkish economy at
http://www.bbc.co.uk/news/business-11878532