Job Discussion Forums

ak_tesl · Joined: 24 Jun 2005 Posts: 50

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�?

thrifty · Joined: 25 Apr 2006 Posts: 1665 Location: chip van

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.

molly farquharson · Joined: 16 Jun 2004 Posts: 839 Location: istanbul

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.

billybuzz · Joined: 05 Jan 2006 Posts: 219 Location: turkey

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.

thrifty · Joined: 25 Apr 2006 Posts: 1665 Location: chip van

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.

ak_tesl · Joined: 24 Jun 2005 Posts: 50

Hi Molly. How was your trip back home?

ak_tesl · Joined: 24 Jun 2005 Posts: 50