The Pound now buys £2.39 Lira but will it continue to weaken?

After months of a strong Lira the currency looks like it may be weakening and that means more Lira to the pound and things get a bit cheaper! It’s about time too, with inflation at around 10%, tax hikes on alcohol combined with the strong Lira meant Turkey was in serious danger frightening away the cost conscious tourists who have always chosen Turkey for its good value.

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However, as the graph shows, this time last year the Pound bought almost 2.70 Lira but now it only just buys 2.39 Lira – 13% less. The red line shows the potential upward trend.

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A weakening of the Lira was forecast a few weeks ago by an American economist who saw the massive increases in the Turkish Stock exchange and other deposits over the last 2 years as unsustainable. But will it continue? If we knew that we’d be rich!

You can find out the latest exchange rate from the information bar (left) on all our pages.

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