The Turkish Lira.

[Jackflash]

The Lira over here went into free fall over the last couple of months, reaching an all time high exchange rate of 25 to the £1. to put it into some kind of prospective when i first came out it was 3.7. again putting it into prospective at it's highest 20 cig;s were just 67 pence. It.s now seams to have settled down to around 15/15,50. still a very good rate, but i regret not buying Lira at 25. Don't think we'll ever see that rate again.

 

[CroJack]

Enjoy .

 

[Yankee_Jack]

@Jackflash … what interest rates are your getting out there

 

[Jackflash]

@Jackflash … what interest rates are your getting out there

Was 14.8 this afternoon at my local exchange, still seems to be a slow downward trend after the big drop two days ago.
Apparently there was a meeting with government and banks last Wednesday, don't know details but the dollar was heavily involved.
Have you looked at a Lira graph chart of the last seven days.

 

[Yankee_Jack]

will look at the chart.

What interest rates are banks typically giving on savings accounts?

 

[Yankee_Jack]

USD to TRY on xe.com is now 10.65

 

[Jackflash]

will look at the chart.

What interest rates are banks typically giving on savings accounts?

UK/ Turk bank HSBC were paying 12% on a savings A/C out here, Don't know if that's changed since the big drop , will verify that in a couple of days time.

 

[Jackflash]

USD to TRY on xe.com is now 10.65

Yes I see the USD has followed the same trait as Sterling dropping from 16.5 into the 10.s over the past two weeks. Big percentage drop.
President Erdogon's policies favoured a high exchange rate, but since tourism is now virtually non-existent the economy is on it's ass.