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ak_tesl
Joined: 24 Jun 2005 Posts: 50
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Posted: Thu Aug 03, 2006 3:31 pm Post subject: TURKISH ROLLER-COASTER |
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When I came to Turkey in February, 1 US was worth 1.36 YTL. Just before summer, the YTL got devaluated to 1.7, and recently it stood at 1.38. So if you had bought 1000 US back then, and then exchanged the money to YTL (1700 YTL), and back to US (1230), you would (in theory) have made a profit of almost 25%.
TEFLres earning the YTL equivalent of US must feel dizzy. I certainly do.
Will next year (elections year) be another roller-coaster? Or more like Canada�s Wonderland�s �The Sledge Hammer�? |
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thrifty
Joined: 25 Apr 2006 Posts: 1665 Location: chip van
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Posted: Thu Aug 03, 2006 5:25 pm Post subject: |
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No, I don't feel dizzy at all. I am sure that we are all used to it.
Next year should be much the same.
I doubt any TEFLers made any money on the ups and downs in the exchange rates. |
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molly farquharson
Joined: 16 Jun 2004 Posts: 839 Location: istanbul
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Posted: Thu Aug 03, 2006 5:53 pm Post subject: |
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we live here. Why should it be different for us than for the turks? We make more than most of them as it is. Take a chill pill. |
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billybuzz
Joined: 05 Jan 2006 Posts: 219 Location: turkey
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Posted: Sat Aug 05, 2006 9:09 am Post subject: |
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Its a mistake to get paid in dollars these days ,generally not worth much these days ,go for Euros if you can I know some internatinal schools pay sterling (nice) but ytl is great for saving coz of the interest rates .And as Molly said we do live here aftyer all. |
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thrifty
Joined: 25 Apr 2006 Posts: 1665 Location: chip van
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Posted: Sat Aug 05, 2006 11:35 am Post subject: |
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YTL is not great for saving because the interest rates are not high when you take into account the real rate of inflation. Add to that the instability of the YTL and you have no reason to save in YTL. If the YTL was so great you would have foreign investors saving in it. But we do live here. |
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ak_tesl
Joined: 24 Jun 2005 Posts: 50
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Posted: Sun Aug 06, 2006 2:45 pm Post subject: |
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Hi Molly. How was your trip back home?
molly farquharson wrote: |
We make more than most of them as it is. |
Quite true. Not a happy situation. |
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ak_tesl
Joined: 24 Jun 2005 Posts: 50
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Posted: Sun Aug 06, 2006 2:48 pm Post subject: |
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billybuzz wrote: |
but ytl is great for saving coz of the interest rates. |
Higher interests mean higher risks. |
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