Watching the Forex
October 6, 2008
Economy Down, Dollar Up!
Well, guess not all is bad when the US economy goes down the chute- the Dollar has risen nicely over the past few days! We’re now at 1.3 Turkish Lira to 1 USD. This is pretty good news because it means my money is worth more. Before coming I had a serious fear that due to the Dollar’s steady decline over the past few years I’d have very little buying power. Well, it’s not the best right now but I’ll take it. Just to put things in perspective- if the Dollar hits parity with the Lira things will get very expensive and I’ll really be in a pinch when it comes to money. But, if the pattern continues and we reach, say, 1.5 lira to the dollar then I’m going to be in really good shape. Bottom line- 1.3 Lira to the Dollar is pretty good, let’s hope this keeps up!
You know what this means? We’re definitely going shopping this weekend.
On another note, the dollar is also doing better against the Euro. It’s now 1 Euro to 1.37 USD, down from 1 Euro to 1.47 USD about a month ago.
[...] we’ve done it! On October 6th I wrote about the exchange rate and how life in Istanbul would rock if the rate hit (a then unimaginable) [...]