GBP - TL Looks like the lira is on the move

PMF68


Joined: 13/07/2008
Posts: 130

Message Posted:
06/05/2010 18:58

Looks like the TL is getting weaker or pound is getting stronger not sure which but the latest rate on xe.com was 2.33



Will be interesting to see what happens after todays UK elections



Let hope the is an outright winner the alternative won't be good for the pound I think









Paul

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
06/05/2010 20:57

Euro sliding against £. £1=1.175Euro.



Richard

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
06/05/2010 22:13

, Was over 2.8 earlier....now around 2.55 wonder why, any ideas ?

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
06/05/2010 22:32

oops, what am i on about ? went up to 2.39........now around 2.35

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
06/05/2010 22:38

The markets are volatile - they'll stabilise after the election.

TimothyCadman


Joined: 13/12/2007
Posts: 1040

Message Posted:
07/05/2010 00:31

I remember the odd days it went through the 3TL to £1 barrier, and was regularly around 2.7TL to 2.8TL. We used to sit in the office and watch the exchange rate on the internet going up and down by the minute, just trying to track which way the trend was going. Made my £400 a month wages go a long way too. Then minimum wage came in, prices went up and boy was it expensive to change it back to £'s fo holidays in the UK.

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
07/05/2010 00:33

the pound will probablly collapse after the election ?

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
07/05/2010 08:46

rowlo/Msg 7 - I fear you are right!



These days, it seems the Pound only temporarily 'flirts with quality'!

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
07/05/2010 09:10

£ 1 = YTL 2.3185

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
07/05/2010 11:34

£ 1 = YTL 2.3089

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
07/05/2010 12:10

.....2.29 now

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
07/05/2010 12:22

I have no problems with the pound collapsing as it will provide a good opportunity to maximise profit when changing TL to sterling. Am pretty confident that it will bounce back once the uncertainty of who will govern is sorted out.

Appreciate that it would not be good for those with UK pensions being paid out here.

Sit tight, it could be a bumpy ride !!



Paul

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
07/05/2010 12:33

message 12



"I have no problems with the pound collapsing as it will provide a good opportunity to maximise profit "



You selfish,selfish person. You want a whole economy in ruins so you can make a few quid speculating.



My children would have to live with the results of yours and other speculators wishes.



We are trying get support from the British people on matters like Orams, Embargo and direct flights, and you have to say something like that on a public forum.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
07/05/2010 13:09

Girne29



If the value of the pound drops UK exports will benefit from appearing good value, so it's not all bad.

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
07/05/2010 14:27

Girne



Not selfish, just realistic and as Groucho says, it gives UK exports a chance in what is a very difficult marketplace. My use of the word collapse was in hindsight probably the wrong phrase to use. Maybe 'weaken for a while' may have been a more appropriate phrase.



I think that if you read my post again, you will notice that I state that I expect the pound will bounce back very quickly, so it's hardly likely that the economy will end up in any more ruinous state than it already is.



Just as a matter of interest, what are your thoughts on the situation in Greece as their economy implodes ? Do you feel sorry for them ? Or as 'Bubbles', do you think they got what they deserved ?



Regards



Paul

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
07/05/2010 14:36

groucho



Okay it might, a but bear in mind at the moment we import a lot more than we export so until we catch up, the pound dropping costs us dearly. Devaluation is one thing, but a total collapse in the pound would put us in the situation of Greece ,a junk bond economy who are having to pay 18% interest on loans.



Anyway message 12 showed no interest in imports/export but only in desiring a crash in order to make a couple of % on a savings account. Just shows you how hypocritical we are ,after all the complaints about hedge fund spivs and speculators. Maybe it just proves deep down we are all morally corrupt ,given the chance.

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
07/05/2010 14:49

Girne



As I said previously, I am not looking for a crash, but if, as predicted the pound drops (albeit temporarily) as a result of a hung parliament, why shouldn't I take advantage if I am in a position to do so. I don't consider that to be either hypocritical or morally corrupt.

There was a topic on here earlier in the week discussing the pros and cons of moving money backwards and forwards from TL to sterling in order to best take advantage of fluctuating rates. Please tell me what is wrong with that ?

After all, I am just trying to top up my meagre service pension !! LOL



Paul

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
07/05/2010 16:04

Nothing is wrong with that, I have done it myself in the past. To do it according to how currencies are fluctuating is one thing but to want sterling to collapse seemed like wanting to make a little bit of money at the expense of a lot of people, II remember Black monday 1987,when some British currency traders were seen giving high fives at the amount of money they had made on the back of a finanicial crisis that was mainly artificially manufactured by those same people.

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
07/05/2010 16:12

If they dont get to grips with the budget dececit very soon, then the markets will lose confidence with the uk....thats when the £1 will weaken, have to wait and see...

juliamoons



Joined: 14/05/2009
Posts: 849

Message Posted:
07/05/2010 18:10

1.00 GBP = 2.30763 TRY

cyprusman3



Joined: 09/06/2009
Posts: 297

Message Posted:
07/05/2010 23:37

ive already changed back to sterling as i have faith in it and think will rise in value as conservatives coming in is a positive result hung or not lets see what transpires !!

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
07/05/2010 23:48

i hope you are right cyprusman, look what happened to the new york stock exchange today as a result of uk elections xx

NCMan



Joined: 19/09/2009
Posts: 670

Message Posted:
08/05/2010 08:38

Msg 17 !!! yeah right if you were living on a Service Pension you would not say what you did. !!!!

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
08/05/2010 10:38

NCMan



I retired from the Royal Marines in December 2008 after 28 years service.



Every little helps !!!



Regards



Paul

PMF68


Joined: 13/07/2008
Posts: 130

Message Posted:
13/05/2010 19:46

2.22 were will it bottom out ?





Paul