Cyprus-Forum.com

[Kikapu]

its always been like that, when buying stuff like expensive electronics or cars, they used to be either deutsch marks or dollars, and now its either euros or dollars, dont know why tho...

why is petrol always sold by the dollar?

Our official currency in Switzerland is the Swiss Francs, but we do not use the "New Turkish Lira" to but expensive "stuff", so I can't figure out, why is the official currency, is not "too official" in the "TRNC"

[LENA]

its always been like that, when buying stuff like expensive electronics or cars, they used to be either deutsch marks or dollars, and now its either euros or dollars, dont know why tho...

why is petrol always sold by the dollar?

Listen mate , the Turkish Lira is a third world currency , as simple as that , like it or lump it , Cyprus pound is up with first division currencies .

Miltiade...I agree that we have one of the most powerful currencies but you dont have to insult their currency. They suffer enough having that. They have to exchange always .... to save money!

[shahmaran]

its always been like that, when buying stuff like expensive electronics or cars, they used to be either deutsch marks or dollars, and now its either euros or dollars, dont know why tho...

why is petrol always sold by the dollar?

Our official currency in Switzerland is the Swiss Francs, but we do not use the "New Turkish Lira" to but expensive "stuff", so I can't figure out, why is the official currency, is not "too official" in the "TRNC"

what you actually use TL in Switzerland?! or you being sarcastic?

[Viewpoint]

Alexis we already have Euro in the north plus US Dollars, Sterling, and the soon to be non existent Cyprus pounds but our official currency is the New Turkish Lira and we have no plans to change it.

VP,

Just curious. If the New Turkish Lira is the official currency of the "TRNC", why is it, that, those who are asked to pay, to avoid doing military service for some people, is quoted in British Pounds. The same goes for some of the High-end Hotels, priced in US Dollars. This is also practised in Turkey by the way.

Is it because, they do not have too much faith in their own currency, the New Turkish Lira or what.?

Yes that is the pratice because prior to the 2000 the Turkish Lira was in turmoil and depreciating but for the last 4 5 years the Turkish lira has been stable and inflation has been pegged down to 12% from over 100%, this figure should be single digits by then end of this year.
The practice has just remained and the north has had a free foreign exchange regime for many years the GC have only come into the free exchange regime on the 1st of May 2004 when they entered the EU, before that they could not remit funds abroad or exchange currencies without official permission.

[pitsilos]

Yes that is the pratice because prior to the 2000 the Turkish Lira was in turmoil and depreciating but for the last 4 5 years the Turkish lira has been stable and inflation has been pegged down to 12% from over 100%, this figure should be single digits by then end of this year.

thats a bold statement, the inflation figures that is. any proof to back these claims?

This is what I read

While we could see some rosy forecasts and more capital inflow into the Turkish markets, the longer view will not be similar to other emerging markets who are on a stable trajectory of real growth accompanied by actual job creation. The only way for the Turkish markets to get back on track is through a radical currency correction along with a decline in real interest rates. If accompanied by a severe outflow of funds and mismanaged by the monetary authorities, this necessary correction could unfold as a financial crisis.

http://etf.seekingalpha.com/article/27490

the way i see it, turkey's bubble is gonna bust and then we will see how quickly you, vips, plural, be changing currencies.

now tell me again why turkey wants to get in the eu?

[Viewpoint]

Yes that is the pratice because prior to the 2000 the Turkish Lira was in turmoil and depreciating but for the last 4 5 years the Turkish lira has been stable and inflation has been pegged down to 12% from over 100%, this figure should be single digits by then end of this year.

thats a bold statement, the inflation figures that is. any proof to back these claims?

This is what I read

While we could see some rosy forecasts and more capital inflow into the Turkish markets, the longer view will not be similar to other emerging markets who are on a stable trajectory of real growth accompanied by actual job creation. The only way for the Turkish markets to get back on track is through a radical currency correction along with a decline in real interest rates. If accompanied by a severe outflow of funds and mismanaged by the monetary authorities, this necessary correction could unfold as a financial crisis.

http://etf.seekingalpha.com/article/27490

the way i see it, turkey's bubble is gonna bust and then we will see how quickly you, vips, plural, be changing currencies.

now tell me again why turkey wants to get in the eu?

Friday February 16, 1:09 AM
Turkish cbank holds rates, sees easing inflation
ANKARA, Feb 15 (Reuters) - Turkey's central bank left key interest rates unchanged on Thursday, as expected, and said inflation might move higher in March but a downward trend would become clearer from the second quarter.
It also reiterated that a cautious stance was needed to reach medium-term inflation targets, although it noted that a partial improvement in inflation expectations continued.

"The committee considered that it was necessary to maintain a cautious stance to reach the mid-term inflation target," it added.

The central bank targets inflation for the end of this year at 4 percent, but in January the consumer price index rose 9.93 percent and the bank's latest external expectations survey points to a year-end inflation rate of 7.16 percent.

http://asia.news.yahoo.com/070215/3/2xka1.html

OECD releases glowing figures for Turkey's growth, inflation levels



Recently revealed figures and predictions from the Organization for Economic Cooperation and Development predict a continuation of growth rates for Turkey over the next 5 years, with an annual average growth of 7.2%.


OECD figures also address inflation and unemployment rates in Turkey, with OECD predicting inflation rates in Turkey for next year to be around 3.6%. OECD figures also predict a general downward slide for unemployment rates in Turkey, with rates at 10.4% in 2007, and at 8% in 2012.

If the 7.2% growth rates predicted for the 2008-2012 period hold, Turkey will enjoy an average growth rate higher than EU and other developed countries. Closest to Turkey in terms of rate of growth in the latest period has been Slovakia, with an annual growth rate of 5.5%. During the same period, Poland grew 4.5%, South Korea 4.3%, and Luxembourg 4%, according to OECD figures.

So not all doom and gloom as you want to believe, all you have to do is search the net.

Why do they want to enter the EU beats me but I would guess it would be for the same reasons as all the 26 bar 1

[pitsilos]

are we talking real projections or bubble projections?

and have you ever known any other 3rd world economy recover from the imf? especcially when they are occupying 2nd place?

and now you are comparing the 27 members with turkey? have you heard of the expression, developed economies? see if you can google this one too

[shahmaran]

are we talking real projections or bubble projections?

and have you ever known any other 3rd world economy recover from the imf? especcially when they are occupying 2nd place?

and now you are comparing the 27 members with turkey? have you heard of the expression, developed economies? see if you can google this one too

yeah we have seen the latest few members of the "developed economies" club, VERY developed indeed, some places would make the east of Turkey look like Beverly Hills...

[pitsilos]

ok ok shahmaran take a number and the eu will attend to your needs as quickly as possible

[shahmaran]

yeah WHY NOT?! i mean what is the deal with the EU anyways?! is it like a Elite club for christians?!