TL Sliding Down The Greasy Pole Again ?

[Scunner]

Poor day today for the lira - 7.05 to 7.16, now at 7.154

[yabanci]

Yet the Turkish Central Bank kept Interest Rates unchanged, for the fourth month in a row.

https://www.dailysabah.com/finance/2019/03/06/turkeys-central-bank-keeps-policy-rate-unchanged-at-24-percent

[KKOB]

The rosy picture drawn by Treasury and Finance Minister Berat Albayrak is nowhere close to the real economic situation. Thus, the guessing game about the lira’s performance for the second half of the year continues.

https://ahvalnews.com/turkish-lira/turkish-lira-likely-under-pressure-after-elections

[KKOB]

7.27 this morning. Just a couple of weeks until the elections.

[KKOB]

A sudden slip to 7.61 at close of business on Friday.

[Scunner]

Yes amazing yesterday - lost nearly 8% of its value against the pound in one day.

[KKOB]

Ahh, here's the reason. According to The Boy Blunder, there's been a "disinformation campaign, especially on social media".

The minister’s claims jarred with statements by the central bank, which published data on Thursday showing an unexpected $6.3 billion drop in foreign currency reserves over two weeks, leaving reserves at $28.5 billion.

https://ahvalnews.com/berat-albayrak/turkey-finance-minister-blames-lira-slide-social-media-manipulation

[KKOB]

Well, we're at an even slipperier 7.78 for the start of May.

[stoop]

7.79 as I type 😱

[DianaJ]

Our local Turkish Barber here in Northern Ireland told my husband yesterday it will be 8 by the weekend and he should know 🤣