Watching the Turkish Lira slowly weaken against the British Pound, currently at a record low, I begin to wonder if 4TL will soon buy £1. It currently stands at 3.88TL/£1 and is showing no sign of bouncing back. For those who opened TL accounts and hoped the lira would strengthen there must be a few worries. I’ve heard stories of those in the past who ended up making 25% on the sterling they’d invested in these accounts on top of the generous interest rates they’d been offered.
So where to during the month of May; back to 3.5TL or over the 4TL/£1 mark?
Oh dear, how the lira has fallen in value.
Right now it is 3.914 TL/£1
Well I know many older Turks lamented the passing of the million liras to the pound, looks like the past could return.
3.97550TL/£1 at the moment, just about to cross the 4Tl/£1 barrier?