Turkish Lira Weakening Against Sterling - 4.26 TL To The Pound

Turkish Lira Weakening Against Sterling - 4.26 TL To The PoundYou may have noticed that this morning you can get 4.26 TL for your pound, a 6% weakening of the Turkish Lira over the last 30 days. This is apparently because of a combination of a tourism drought in Turkey, because of terrorism worries and a Russian ban, and political uncertainty relating to the Turkish Prime Minister being about to lose his job, sacked by the Turkish President.

This movement is nowhere close to the 4.75TL to the pound, experienced back in September 2015, but with the holiday season approaching holidaymakers to Turkey and North Cyprus are sure to be pleased. Not to mention those of us who spend considerable time in the north and have regular bills to pay.

The expectation is for the Turkish Lira to weaken even more but not necessarily against Sterling. UK have its own problems to face in the coming months, not the least the Brexit vote where the expectation is a drop in its value if the UK votes to leave the EU.

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