I have bought a property in Turkey, I can now invest money there at 18% interest but is the lire stable ?

I understand Turkey devalued their currency could it happen again?

Turkey's stocks and currency fell as investors chose to play it safe ahead of a meeting between the government and army generals to discuss measures aimed at countering attacks by Kurdish rebels. The country's markets have been volatile as tensions flare and subside over disputes about the direction the country should take.
http://www.marketwatch.com/News/Story/St...
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don't invest on lira. I recommend you invest it on euro

good luck

P.S. why buy a property in Turkey? You should have bought it at greece or italy...

There is a relationship between interest rates and exchange rates called interest rate party. Basically this can be read as 鈥榯here is no such thing as a free lunch鈥? You will not be able to invest in a high interest rate country (i.e. a deposit in Turkish bank accont) and have a profit when you convert back to your home country, whether that be US$ or pounds or whatever. I'll explain. If Turkey has an interest rate of 18% and the UK has, say, an interest rate of 6% then (approximately) the lire will depreciate by 13% (18% minus 6%) against the pound. This relationship MUST hold due to what is called covered interest rate party, which is the relationship between interest rates, exchange rates and forward rates. Bottom line, yes you'll earn 18% in a Turkish bank account, but the Turkish currency WILL depreciate against your currency if your 鈥榟ome鈥?interest rate is less than 18%, which it probably is. Look at it another way, if it were this easy to make money we'd all be doing it!

Turkey pays the highest real interest rate to Turkish lira assets in the entire universe, thanks to the Central Bank monetary policy to keep inflation down. (high interest = over valued currency) With that respect there is great possibility that Turkish Lira may loose some value if foreigners decides not to invest to Turkish assets which will eventually create fluctuation in the exchange rate market but at the end when everything gets cool down, you will be delighted with the net profit you made. Devaluation of Turkish lira is out of question.