Turkish Lira, Anyone?

[Marilyn]

Any news on the Lira ? Any speculators in the house?? :wave:

[Psycho for Dinar]

lasagnabro
Forum Supporter Join Date: Jul 2004
Location: california near san franfreako
Posts: 129


Alert Alert Alert Alert!!!!!!!!!!

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Danger Will Robinson...I found another little tidbit about another country getting ready to re-value their currency. There is a SPECIFIC DATE! January 1, 2005! Also note the author's comments "the Economist said that Turkey and Romania have pursued a redenomination and countries with low currency value are RAPIDLY disappearing."
"The Economist introduced Turkey as the 50th country that has pursued redenomination in recent years. With the redenomination taking effect starting on January 1 2005, Turkey will strip off six zeros from its currency. "

http://english.chosun.com/w21data/h...0409010023.html

1000 Turkish Lira=.0007 U.S. dollars, or the same value as the Iraqi Dinar at .0007 U.S. Dollars. If they are dropping SIX zeros...or .0000007=One Turkish Lira....is that .70 per U.S. Dollar? Or even compared to the eurotrash cash, it's still a SIZABLE increase. Even at .07 per U.S. dollar is a significant increase. Who's going to be lining up to buy Turkish Lira that is currently worth .0000007 U.S. dollars? I'm already looking for a source online to purchase their currency. If anyone else comes up with the info first please post it!

[Marilyn]

"ISE Markets and the introduction of New Turkish lira (YTL)
CHANGES TO BE EFFECTIVE ON THE ISE MARKETS FOLLOWING THE INTRODUCTION OF THE NEW CURRENCY AS OF JANUARY 1, 2005"


http://www.ise.org/ntl.htm

[seattle]

1 million turkish lira is worth .67 cents today

[lasagnabro]

Ok, so if it is new currency, wouldn't it be like Iraq where a grace period of exchange would take place? I'd like to buy some. What do you think?

"The new currency of Turkish Republic will be “New Turkish lira (YTL)” as of January 1, 2005, The Turkish lira currently in circulation will be converted to New Turkish lira as TL 1,000,000 = YTL 1. Quotations on the Derivatives Market will be in three decimals. Prices will indicate the exchange rate for 1 US dollar or 1 euro against YTL, i.e if 1 US$ = TL 1,505,000 then 1 US$ will be equal to YTL 1.505. Accordingly, the price tick, which is currently TL 1,000, will be YTL 0.001 after the introduction of the new currency."

I just found ordercurrency.com. They list 300million TL for $300. They also have a banner that says "we not buy or sell Iraqi dinar"! Thought that was funny. I'm going to take a chance and spend $300.

[manu bawra]

Any news on the Lira ? Any speculators in the house?? :wave:I would like to know where i can trade my New Turkish Lira's HHHelp!!