Turkey's Currency Lira is Facing New Sharp Drop

[Hakikat ve Hikmet]

Trump is the most ruthless America president ever.

No, one of the most idiot ones who can't even settle the bills with a prostitute...

Talking about being ruthless, think about President Truman, with an 8th grade of education and extreme poverty during childhood,....

 

[Super Falcon]

You face hardships so you will be given prizes for those hardships turkey is one main pillar of islamic world and i have full faith ALMIGHTY ALLAH help this brave nation it will come out of these hardships

Enough games if puppet leaders sooner or later US dollar will be on its knees INSHALLAH

 

[Arabi]

BREAKING:

https://twitter.com/x/status/1030554141377159168

S&P cuts Turkey credit rating deeper into junk territory

• The ratings agency lowered Turkey's long-term foreign currency sovereign credit rating to a "B+" and the long-term local currency rating to "BB-".
• "Over the last two weeks, the Turkish lira has exhibited extreme volatility," S&P says.
• Turkey's lira has lost more than 40 percent of its value against the dollar this year, sparking fears of a larger sell-off in emerging markets.

Standard & Poor's took Turkey's sovereign debt rating even lower on Friday.

S&P had already rated Turkey's bonds as "junk," but on Friday lowered the the long-term foreign currency sovereign credit rating one notch to a "B+" and the long-term local currency rating to "BB-". The credit rating firm also forecast a recession for Turkey next year.

more on CNBC

I expect Turkish Lira tomorrow to sink down but this time it will be a very deep diving.

 

[SubWater]

What does Turkish Lira have with you????
You are disgusting creatures, I clearly remember your kind celebration when Iran Rial hugely drop.
I am not fan of Erdogan and his policy in Syria but I stand with our Turks brothers and wish for them win against American/Saudi/Zionist joint economical attack.

 

[cabatli_53]

Turkish Lira keeps rising but Some guys from outside is struggling to put Turkey into recession with credit mechanism. That must be their second wave attack to our economy !

 

[Trango Towers]

ISTANBUL (Reuters) - The Turkish lira slid 7 percent against the dollar on Friday as investors worried about a U.S warning that Turkey should expect more economic sanctions unless it hands over detained American pastor Andrew Brunson.



The lira weakened as far as 6.2499 as Turkey prepared for a week-long public holiday beginning at midday on Monday. Losses against the dollar this year widened to 39 percent as the U.S. row fueled losses driven by concerns over President Tayyip Erdogan's influence over monetary policy.

Investing

It seems the $15 bn isn't enough to bring everything back to normal

Sons of zion are rejoicing i see

 

[cabatli_53]

Sons of zion are rejoicing i see

Today, S&P decreased the credit note of Turkey into the level of where Greece is. Same Greece which officially declared its bankruptcy that has a dept to GDP rate around %260 now. On the other hand, We are talking about a country Turkey having a GDP purchasing power around ~2,5trillion$ which has an active and advancing industry, rising export figures, increasing capacity usage rate, ~8 billion dolar defense industry contract and 40-45 million tourist/30billion$ tourism income in this year. Central bank itself had 140 billion$ reserve but 20-30 billion $ is used in recent days but acc to S&P, We are the same level with Greece. I don’t know you but It tells many things to me.

 

[HannibalBarca]

Today, S&P decreased the credit note of Turkey into the level of where is Greece which officially declared its bankruptcy that has a dept to GDP rate around %260 now. On the other hand, We are talking about a country Turkey having a GDP purchasing power around ~2,5trillion$ which has an active and advancing industry, rising export figures, increasing capacity usage rate, ~8 billion dolar defense industry contract and 40-45 million tourist/30billion$ tourism income target in this year but acc to S&P, We are the same level with Greece. I don’t know you but It tells many things to me.

If TR get through the Storm under such "conditions" then it's a good sign for an interesting rebound in the Future. That will mean the "Economical Structure" is Strong and therefore Good for Investment...

 

[Trango Towers]

Today, S&P decreased the credit note of Turkey into the level of where Greece is. Same Greece which officially declared its bankruptcy that has a dept to GDP rate around %260 now. On the other hand, We are talking about a country Turkey having a GDP purchasing power around ~2,5trillion$ which has an active and advancing industry, rising export figures, increasing capacity usage rate, ~8 billion dolar defense industry contract and 40-45 million tourist/30billion$ tourism income in this year. Central bank itself had 140 billion$ reserve but 20-30 billion $ is used in recent days but acc to S&P, We are the same level with Greece. I don’t know you but It tells many things to me.

The ratings agencies are bullshit. We kniw what they did during the last crisis

 

[Hakikat ve Hikmet]

No matter what they do Turkey won't bow down no matter what the cost is!!! It's way beyond Erdo'an and his party now!!!! Looks like the Turkish folks are ready to make the established order upside down if it comes to that point!!! The ball is in the US court now!!!!!

By the by, living under a high inflation day in day out under a "dolarized" pricing regime is nothing new for the Turkish people!!! They have been in such conditions for the last 40 years!!! Rather the current circumstances, thanks to President Trump, have offered them a unique "once in a lifetime" opportunity to shatter this mindset of continuously doing $/TL calculations at the back of their minds!!!!

 

[LeGenD]

US have only raised tariffs on Turkish aluminum and steel. This move doesn't constitute as sanctions.

Turkey's economic crisis is homegrown in large part: https://www.wsj.com/articles/how-er...growth-brought-turkey-to-the-brink-1534526348

 

[Śakra]

Why not just return the pastor?

 

[Jamaal Yelmaaz]

Many Turkish politic and economist experts had predicted such possible financial attack on TL by West months and years ago.
Today US credit ratings agency dropted Turkish govermental credit ratings under some countries which their economic parametres Very more worse than Turkey. Despite Turkey is one of the most less deptor country as goverment dept to GDP in OECD countries, its credit rating is one of most worse one.
Thisi is an overtly financial war againis Turkey..
This is not all bad. Beside strenghten our national solidarity There some other useful aspects of these attack such as increasing Turkish export, decreasing import goods, favouring local industry etc....in long term an devalued Turkish lira will beef up our local industry and exports.

Why not just return the pastor?

Pastor is just an cheap pretex for US. Realising pastor wont change US stance.
One of yhe The main reasons is the clashing hardly Turkish foreign policy with US and Israel foreign policy in the Middle East...
Trump and his staff are religous fanatic of Evangelist, fundemental pro-sionist christians. Anti-Sionist Turkish foreign policy make them act hostile againist Turkey.

 

[Harvey Pandit]

Massage is loud and clear, release the American or we will woop our *** so bad you will beg us to show mercy.

 

[Pan-Islamic-Pakistan]

US economy is not strong enough to weather these economic battles with China, Turkey, and other countries.

The Turkish economy is strong and has seen positive growth for many years, I am confident that it will recover soon.

However, confidence on USD will break after this. Weaponizing currency will have the reverse effect and force many countries to trade with other currencies.

Foolish Trump as always, failed domestic policies and failed international policies. Pity for the innocent Americans suffering with this clown.