STG 820tl

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gates
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STG 820tl

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Post by gates »

Pound 820tl today at exchange shop could it go 9 buy midnight

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IPMAN
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Re: STG 820tl

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Post by IPMAN »

Really? Where was this? I got 7.77 according to xe.com it peaked at 7.88tl to the £ at 8:00 this morning?!!

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Post by EnjoyingTheSun »

gates wrote:Pound 820tl today at exchange shop could it go 9 buy midnight
That's surprising, its only showing 7.8429 on XE at the moment and the high today was 7.8627.

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Re: STG 820tl

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Post by paul90 »

gates wrote:Pound 820tl today at exchange shop could it go 9 buy midnight
Do you mean it is 8.20 TL needed to buy £1?

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Post by EnjoyingTheSun »

paul90 wrote:
gates wrote:Pound 820tl today at exchange shop could it go 9 buy midnight
Do you mean it is 8.20 TL needed to buy £1?
Yes I'm guessing it was 8.20 to buy and probably around 7.4 to sell

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Post by Saintsfan »

7.80 tl exchange opp Lemar Karakum

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Post by Saddique »

I see the current spot price at 7.89 ish…...Weakening due to potential rate cut on Feb 19th.

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Post by PapaBravo »

I see the current spot price at 7.89 ish…...Weakening due to potential rate cut on Feb 19th.
And also due to the fact that Sterling is gaining in value.

gates
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Post by gates »

Went past the money exchange in Karakum yesterday about 10 .30 board showing 8.20 to £ would i honestly put it on the board if not seen

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Post by Keithcaley »

gates wrote:Went past the money exchange in Karakum yesterday about 10 .30 board showing 8.20 to £ would i honestly put it on the board if not seen
Hi, I don't think that anyone is suggesting that, but it may have been the rate that they were selling Sterling at, rather than the rate that they would pay for Sterling - there is usually quite a difference, as mentioned in posts 4 & 5...

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Re: STG 820tl

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Post by Saddique »

There is a mid market rate ( known as spot rate ) ………...and then there are the bid ( Buy ) and offer ( sell) rates

The Spot rate is determined by Market forces Globally.

However the Bid and Offer rate is different depending on who you use to do the exchange , ie Bank , Broker , Beaureux de change etc.

The rate of 8.20TL that you saw is most likely the selling rate of TL to obtain 1 GBP unless the exchange has made an error.
if it is actually 8.20TL for a 1 GBP...…………..then I would buy as much as possible to sell on again.

For example if buying TLs is at 8.20 , buy them and then sell the TLs elsewhere at 7.93 ish giving massive arbitrage opportunities.

That's exactly what I would do IMHO

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Re: STG 820tl

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Post by Saddique »

Yes -------sterling is appreciating as well ………..

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