Turkish Economy - News & Updates

[UkroTurk]

https://twitter.com/x/status/1109169518662860800

Wait rising until 6.50.

 

[Islamic faith&Secularism]

Some figures about financial situation for people.

https://twitter.com/x/status/1109480103778680832

 

[UkroTurk]

https://tr.sputniknews.com/ekonomi/201903261038429053-tl-londra-swap-faiz/

 

[Adıvar]

What the fckig hell is this "overnight swap interest" ?

https://twitter.com/x/status/1110496843341930497

 

[Successwill]

Thats bad news for those who borrow TL in order to buy USD. However there are lots of ways to provide liquidity. One is to sell Turkish stocks and is being used these days. Problem is its Turkish Citizens who keep buying USDTRY pair despite the high yield TL gives(%24/year) against USD(%2.5/year)

Even buying EURUSD pair with a small lot size such as 0.10 for 2 months, you have to pay around 40 USD for swaps.(EUR 0 < 2.5 USD)

Imagine buying USDTRY. its a costly business.

 

[ziya]

They short TL but there is not enough TL on market so they only get it with high interest rate,a lot of foreing banks lost huge amount of money,we slap them with ottoman style,they even sell on BİST100 to get TL

 

[Kamil_baku]

They short TL but there is not enough TL on market so they only get it with high interest rate,a lot of foreing banks lost huge amount of money,we slap them with ottoman style,they even sell on BİST100 to get TL

Can you explain it more? what did they do?

 

[Exxxe]

Can you explain it more? what did they do?

In short Turkey limited foreign markets access to lira ( this is the simplest basic explanation I can deliver )

Turkish government reduced lira liquidity in London which forced foreign banks to hunt for lira ruining any chances of manipulating the lira exchange rate

Since the rate soared 1200% and the Turkish banks maintained a 25 % max limit on offering Foreign banks lost money betting against the lira and had to sell stocks to get the currency ( BIST istanbul went down by 5% or so)

This stabilized the lira and it recovered it's losses over the week but unfortunately it's not a long term solution yet it is evidence how they are trying to weaken the currency luckily this time the government was prepared

 

[UkroTurk]

How could you know foreign players are really foreigners?

 

[Exxxe]

The lira is offered in London

How could you know foreign players are really foreigners?

1) It is literally called the London lira swap rate and it is under the forex liquidity management

2) The fluctuation and the increase only happened on London or as called an over the shelve market

3) The banks association defended the decision and confirmed the turkish banks acted within international law and regulation by the banks watchdog

4) The central bank of turkey, coincided with the governor of the bank confirming a policy of increasing reserves

5)https://www.dailysabah.com/finance/...s-lira-swap-sale-for-non-matured-transactions

6) https://www.aa.com.tr/en/economy/turkey-central-bank-reserves-rising-steadily-governor/1432401

7)http://www.hurriyetdailynews.com/amp/turkish-central-bank-reserves-rising-steadily-governor-142246
This here is the GUARDIAN admitting it by ANALYSTS

""Analysts said on Wednesday that Turkish banks appeared to have halted offshore lira lending, making it harder for foreign institutions to speculate against the currency, until at least after the local elections on Sunday.""

Article :https://www.theguardian.com/world/2...ys-financial-markets-after-currency-crackdown

They talk about it as if what happened is a bad thing when it is not however it is clear someone wanted to give the Turks a bad gift on the election Eve and failed badly

Edit:: it is worth noting the measure taken is temporary and came at a cost but it is an undeniable proof someone is determined to ruin the country

 

[zectech]

They short TL but there is not enough TL on market so they only get it with high interest rate,a lot of foreing banks lost huge amount of money,we slap them with ottoman style,they even sell on BİST100 to get TL

Fix the Lira to 1000 Lira to one ounce of gold, all the shorters would lose their shorts and be on the streets.

Can you explain it more? what did they do?

Short selling is selling something you don't own. Like a coffee company could pour money into short selling coffee futures to crash the price, so they can buy coffee from the growers at 80 cents a pound like they do now. Short selling is gambling and is unlawful because it is gambling. There is no reason for short selling, no matter what the corporations tell you. They did not need it 2000 years ago, they don't need it now. At harvest, all you need is a short seller with big pockets to crash the market, so the producers are left with debt and high suicide rates.

Turkey is fighting back against the zionist banksters.

 

[TaiShang]

Turkey is fighting back against the zionist banksters.

But, under President Erdogan, a lot of Turkish banks have been sold to foreign finance institutions in Europe and US, which are, most likely, all Zionist.

Before Erdogan, Turkish banking system was mostly domestically controlled. Now, majority of Turkish banking sector is foreign/Western-owned (China having just one, I guess).

How would you explain this paradox?

 

[zectech]

But, under President Erdogan, a lot of Turkish banks have been sold to foreign finance institutions in Europe and US, which are, most likely, all Zionist.

Before Erdogan, Turkish banking system was mostly domestically controlled. Now, majority of Turkish banking sector is foreign/Western-owned (China having just one, I guess).

How would you explain this paradox?

The banksters would have attacked the Lira even if they were still domestically controlled.

The banks controlled by the zionist banksters makes the attack on the Lira less. ((They)) would have shorted the Lira even more if they had no holdings in any banks. Soros shorted the pound and broke the bank of England and did not own outright any of the banks.

The attacks on the Lira are baseless.

 

[TaiShang]

The banksters would have attacked the Lira even if they were still domestically controlled.

That would have happened perhaps.

But, would not have it been better if Erdogan did not sell majority of Turkish banks to the Zionists in the first place?

Why did he do that? Those banks were the fruits of the secular revolution under the CHP.

 

[Deliorman]

Son Dakika!

https://twitter.com/x/status/1114063640657833986