To all you finance boffins out there .....

Any ideas what is happening with the £/YTL currency rate at the moment? The trend in the last couple of days is downwards from a high this week of about 2.83

I am transferring a reasonable sum of money from the UK (should arrive today) which will be used immediately to buy some land. I dont know whether to sit tight and hope it goes back up to 2.8 and above, or exchange asap

I have followed previous posts and some of you are definately 'in the know' on this subject, so any advice would be greatly appreciated

Cheers for now

Shaun

Shauntarr,



You mean that a few days ago, we had 1euro=2,83ytl. That's just crzay because usuallly it's 1euro=1,85 ytl.



Well, maybe tomorrow i'll spend all the day in front of akbank "panneau lumineux" looking for an increase lol

.....he's talking about the £; there was a clue in his post when he stated "I am transferring a reasonable sum of money from the UK "



However those of us who have been here a while have in fact seen the figures you've quoted happen. For instance one day in 2001 the pound was worth 1,000,000 in the morning and in the afternoon it was worth 2,000,000.

that, and the fact that I used the £ sign??

I think we would all be millionnaires if we new exactly what was going to happen and when. Some people, including yourself, that have posted before on this subject appear to know the 'inside track' on what the currency is 'likely' to be doing, hence why I posted.

The rate has since gone down to 2.77. I am a gambling man though so will sit it out for another couple of days to see which way it swings.

Shaun

Shaun looks like your getting your wish its up 2.5 kurus this morning

Have managed somehow in my ignorance to reread, following your private riposte to me, for example the Financial Times views on the situation and astonishingly enough, those views disagree with your dire prediction on the currency's foreseeable future (especially on whether the USD-to-GBP prospects, as your note upbraided me to study, bear any relation whatsoever to the YTL's outlook ) --- but undoubtedly yours, not FT's, are correct. They always are, it goes without saying, so pardon the mere mention. Thanks so much again for your omniscient elucidation on absolutely everything, We should all turn only to Mymerhaba henceforth for international finance education.

Quote: Originally posted by jbschlubach on 01.01.2007
Have managed somehow in my ignorance to reread, following your private riposte to me, for example the Financial Times views on the situation and astonishingly enough, those views disagree with your dire prediction on the currency's foreseeable future (especially on whether the USD-to-GBP prospects, as your note upbraided me to study, bear any relation whatsoever to the YTL's outlook ) --- but undoubtedly yours, not FT's, are correct. They always are, it goes without saying, so pardon the mere mention. Thanks so much again for your omniscient elucidation on absolutely everything, We should all turn only to Mymerhaba henceforth for international finance education.


Where did this come from???????


Bryn .... I held out until it hit 2.81 per £ and cashed in. I then went on holiday to UK and came back to find the rate at 2.75 per £ so I am glad I bailed at the right time.

Shaun

Shaun its all ways a case of timing and if we could predict it accurately we would all be millionaires!! I think there will be another slide in the Lira soon but again predicting the timing is the thing.

Usually when I transfer my salary each month from the UK I just exchange it because the amount is not enough to make any significant gains or losses. This situation was different because it was a reasonable sum that I was using to exchange and buy some land.



It was going downwards from 2.83 to 2.75. I held my nerve and caught it on the upswing at 2.81 and saved myself about 400YTL ... not massive but contributed towards the TAPU costs etc etc !!!! of course .. it could of gone the other way hence the reason for posting this message.

Hi… that was great stuff.. I really like this subject. Could you tell me more …

As for today 26.11.2010 let your ear be on the news. If north Korea fires any rocket buy foreign curency otherwise stay with TL