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Turkish Lira Vs. USD

Aventura, Florida
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109 posts
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Turkish Lira Vs. USD

I've noticed that the exchange rate today is 1.57 TL per 1 USD.

A few days ago it was 1.5 TL/USD.

Of course the Euro has also fallen dramatically vs, the USD.

It seems that the value of theTurkish currency is almost directly related to the economies of Europe and the Euro.

Is this the case?

Gocek, Turkey
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1. Re: Turkish Lira Vs. USD

No, it's not. If you look at this ECB graph, you will see that the rate has fluctuated between 1.96 and 2.30 in the past 12 months.

ecb.int/stats/…eurofxref-graph-try.en.html

Edited: 9:54 am, May 07, 2010
istanbul
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2. Re: Turkish Lira Vs. USD

Turkey does more foreign trade with the Euro zone. But in this case, i think the issue is strengthening of the USD as well as the weakening of the Euro.

So, TL has gained against the Euro and lost against the USD, but not as much as the Euro lost. a month or so ago, the Euro was TL2,1 or more, now it is 1.95

Aventura, Florida
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3. Re: Turkish Lira Vs. USD

Thank you for the replies to my question.

Now...another one:

With the recent problems of the economy in Greece do you believe that the Turkish Government and people are now "Eurosceptical"?

istanbul
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4. Re: Turkish Lira Vs. USD

As one of the a-typical Turkish people,, observing through the media and chats with shopkeepers, taxi drivers, students, and so forth, i find that the past economis crisis and the current problems in greece, portugal, (now, also Italy) play no significant part in their views towards EU membership.

the "ists" still use the same slogans mostly based on conspiracy theories.

The ones with the chipped shoulders say "they will never accept us"

The opportunists (majority of the population) are looking forward to employment and business opportunities once free movement of people becomes a fact.

So, economic crises, sufferings of the underprivileged, governments and other authorities imposing hardships on the people are commonplace, everyday events in Turkey, and have been so for over two thousand years on this soil. When people have learned to be good subjects, they do not protest over much, they try to find opportunities and means for personal gain through political parties, sects, tribal allegiance, even EU membership.

The population needs to learn 'civic responsibility' and the governments need to learn and act on 'civic liability' before they can truely visualize EU membership. Which does not mean that Turkey may not become a full member before this happens.

5. Re: Turkish Lira Vs. USD

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