Pound on slide

kellybelly


Joined: 08/03/2009
Posts: 263

Message Posted:
10/03/2009 17:54

Pound dropped quickly within last 3 days against TL,any comments?

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
10/03/2009 18:05

looks like the imf deal is nearly done













maybe

Nastynipper


Joined: 08/06/2008
Posts: 171

Message Posted:
10/03/2009 18:22

20quid got me 20 .13 euros at the alsancak hut today !!

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
10/03/2009 18:54

So one quid almost equals one euro. Maybe its time to convert the whole Europe to the pound

ismet

Dixie Normus


Joined: 22/02/2008
Posts: 820

Message Posted:
10/03/2009 19:00

Be 2.25 to the £ by the end of the month, loadsa muny!!!!!!!!!

batgirl


Joined: 04/02/2009
Posts: 676

Message Posted:
10/03/2009 19:41

PRODUCTION OUTPUT IN UK DOWN BY 2.6%.

EUROPE/GERMANY ETC 4%

GUESS WHAT IS GOING TO HAPPEN TO THE EURO

BillyB


Joined: 19/05/2008
Posts: 436

Message Posted:
10/03/2009 20:45

If Turkey signs the mfi deal, do you have to be a citizen to apply for the free furniture packs.

petez


Joined: 04/12/2008
Posts: 560

Message Posted:
10/03/2009 20:48

Germany and the rest of Europe are subsidising their manufacturing industries for when the economy does recover.

The British are bailing out the banks, while the manufacturing industry is closing down left right and centre.



Our skilled workforce are getting jobs as binmen and won't be there when people are ready to spend again...

Its a scary thought for the future....

CJtill


Joined: 02/05/2008
Posts: 836

Message Posted:
10/03/2009 20:50

Changing £s into Euros where the currency of the country is TL is not to be recommended as you are paying to convert currency twice.

spider


Joined: 03/01/2009
Posts: 5527

Message Posted:
10/03/2009 22:06

Anyone going on strike again as yet.? belive they get paid for that..!!

at the en of the day we just SPEND what we have..unless you feel you HAVE to leave it...













spider,

Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
10/03/2009 22:11

www.famagusta-gazette.com Turkey bails out cash strapped North Cyprus article today

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
11/03/2009 08:57

with all the money the UK Govt are printing, no wonder the £ is on the slide...



Nick

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
11/03/2009 08:58

how low you reckon nick 2.2 2.5













maybe

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
11/03/2009 09:34

mess 13 - Who knows, if we did we'd all be rich !



certainly more reason to be 2.2 than 2.5 at the moment.





Nick

Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
11/03/2009 09:36

Only scarey if you live in UK surely!?? Isn't this sort of thing exactly why we all got out?

Geoff

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
11/03/2009 09:43

It's GREAT if you are exporting or even quoting in the UK..;)



Our family biz's taking deals from Eastern Europeans who suddenly can't compete on price, as the weak Pound has made them uncompetitive..



Now if only the Banks would insure the invoices... :(

catalkoykid


Joined: 15/02/2009
Posts: 1190

Message Posted:
11/03/2009 09:46

never stop making money, never no if you are going to lose your house to the greeks, keep earning because you wont be making much on the interest rate if it keeps dropping

Traveller0392


Joined: 21/03/2008
Posts: 186

Message Posted:
11/03/2009 11:55

Hi,

Just changed a few pounds in the local exchange office in Kyrenia this morning... the one near the fountain, next to the car wash..... and last week they were giving 2.45 lira to the pound ....



today it is 2.39... when i asked him why.... the reason given was...'the banks in Turkey had intervened'........



clever stuff by the banks in Turkey... make your rate attractive, get some hard earned foreign currency... dollars... euros.... pounds?.... then drop it like a stone........bingo..... they make a packet.



I still haven't heard much about the Icelandic banks.... but still looks a very similar situation.......... here that is.



ps. any jobs going in UK? maybe coming to visit soon.....

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
11/03/2009 12:16

Sooooo glad I changed my wedge of Sterling on Friday

Mmmmmmmmm re msg 16, are you saying the banks will not let you factor your invoices?

markvpiazza


Joined: 14/08/2008
Posts: 530

Message Posted:
11/03/2009 12:45

From Todays Press - the Turkish Government are keeping the TL high by selling $, while industry is suffering and needs lower interest and exchange rates





YENI SAFAK

----------

RECESSION CONTINUES

Global economic crisis is continuing to hit the industry. Capacity utilization rate in February, 2009 dropped 15.5 percent to 63.8 percent when compared to February, 2008. Stagnation in domestic market, decrease in exports and financial insufficiencies caused recession.



VATAN

-----

U.S. dollar dropped to 1.77 Turkish liras when Central Bank sold USD and Euro gained in value



MILLIYET

--------

PREMIER ERDOGAN ON ECONOMIC CRISIS

Prime Minister Recep Tayyip Erdogan said that his government saved Turkish people from high inflation rate. Erdogan said, "isn't there an economic crisis (in Turkey) now? There is an economic crisis in the country. But we should be aware of the fact that the previous government could not find a cure to high inflation rate."

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
11/03/2009 16:02

re 19 JnJ



"re you saying the banks will not let you factor your invoices?"



MY biz is purely wonga up front, my bros biz does involve an element of factoring, and there is no problem FACTORING the invoices - it is INSURING the debt- IF the factored invoice turns "bad".



Back in Jan 2000 - during the dotcom crash, I had a previously GREAT client -triple A credit rated 6 months before - I received 90% on their invoices - suddenly they started bouncing chqs on factored invoices .. Their bank had refused an overdraft - and I hadn't insured their debt...



We learnt BIG time from that ..



Right now, successful biz's can't insure debt- so at the very time he would LIKE to offer credit terms to clients... he can't / won't as the Banks have taken away the "umbrella" now the "rain has come" ;)