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STG 820tl
Posted: Fri 31 Jan 2020 12:03 pm
by gates
Pound 820tl today at exchange shop could it go 9 buy midnight
Re: STG 820tl
Posted: Fri 31 Jan 2020 12:12 pm
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?!!
Re: STG 820tl
Posted: Fri 31 Jan 2020 12:13 pm
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.
Re: STG 820tl
Posted: Fri 31 Jan 2020 3:05 pm
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?
Re: STG 820tl
Posted: Fri 31 Jan 2020 3:25 pm
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
Re: STG 820tl
Posted: Fri 31 Jan 2020 3:29 pm
by Saintsfan
7.80 tl exchange opp Lemar Karakum
Re: STG 820tl
Posted: Fri 31 Jan 2020 8:05 pm
by Saddique
I see the current spot price at 7.89 ish…...Weakening due to potential rate cut on Feb 19th.
Re: STG 820tl
Posted: Fri 31 Jan 2020 8:57 pm
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.
Re: STG 820tl
Posted: Sat 01 Feb 2020 8:14 am
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
Re: STG 820tl
Posted: Sat 01 Feb 2020 9:02 am
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...
Re: STG 820tl
Posted: Sat 01 Feb 2020 3:18 pm
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
Re: STG 820tl
Posted: Sat 01 Feb 2020 3:20 pm
by Saddique
Yes -------sterling is appreciating as well ………..