Turkish lira slide triggers fresh central bank intervention

[dBSPL]

This 2019 forecast is outdated, and your currency has depreciated by more than 50%. China's GDP in 2021 is determined to exceed US $13000.
Turkey's per capita GDP should now be $4600.

How did you arrive at this figure? Or did you really divide last year's GDP figure by the current currency depreciation? Oh my God,

 

[Viet]

All enemies are crying now


The lira hit a record low beyond 18 against the USD 3 days ago
but Erdogan blocked negative speculation over Turkish Lira
1 USD = 12 TL now
and will continue fall

because , No Turkish citizen will have to move their savings from the Turkish lira to a foreign currency

Turkish People has over $230 billion in Turkish Banks
and Turkish People transfers from foreign currency account to Turkish Lira account

because , The Turkish government is presenting a new financial alternative for citizens' savings to soothe their worries over exchange rates-which have reached record highs in recent days

USD will continue fall





ask to IBLINI

Don’t do that, if you do, all Turks will lose all savings. You can’t fight against a flood. The forex speculation is $7 trillion per day. $230 billion in savings is huge however nothing. It takes 10 seconds to bet against a currency.

The only way out for Turkey I see is you ask communist leader Xi Jingping to protect the lira by China forex reserves.

chinese are rich they can do for friends like Turkey.

 

[MMM-E]

This 2019 forecast is outdated, and your currency has depreciated by more than 50%. China's GDP in 2021 is determined to exceed US $13000.
Turkey's per capita GDP should now be $4600.

Turkish economy is 2nd fastests growing economy in OECD
Turkish economy is rising



and as dBSPL said when exchange rates deviate significantly from their long term equilibrium due to speculative attacks or carry trade, a PPP exchange rate offers a better alternative for comparison.


because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita income.

real power is GDP PPP per capita to compare poverty and human development index )

Turkey : $32.278
Russia : $29.485
China : $18.931
İran : $13.513
Egypt : $13.083
India : $7.333

 

[MMM-E]

Don’t do that, if you do, all Turks will lose all savings. You can’t fight against a flood. The forex speculation is $7 trillion per day. $230 billion in savings is huge however nothing. It takes 10 seconds to bet against a currency.

even $2 billion was enouh to fall 1 USD from 18 TL to 12 TL

İf Turkish People dont take Dollars then nobody can rise Dollars to 18 TL again

and 2 days ago Turkey's government has provided guarantees to citizens hit by a currency crash with money
No Turkish citizen will have to move their savings from the Turkish lira to a foreign currency

New mechanisms to protect the lira unveiled by Turkey this week include a system to compensate lira depositors for foreign currency fluctuations, while encouraging citizens to move towards Turkish lira-based assets

 

[sha ah]

15 years ago the Lira was almost on par against the US Dollar It was 1.2-1.5 for a while. This was however after Erdogan cut 6 zeros from the Lira since it was 1 million against 1 US Dollar when Erdogan came to power.

Anyways from 15 years ago until now from 1.2 to around 12 today. As a tourist you're obviously going to be paying tourist prices with some vendors simply using dollar rates to determine prices, but if you have a Turkish friend and convert your EUR or USD to Lira, everything will be dirt cheap.

Europeans tend to go there for cheap thrills and prostitutes. Have fun.

anyone been to Turkey is everything really cheap

how is it traveling there from UK ?

 

[sha ah]

The Lira is finished thanks to Erdonomics. It's likely going past 20 and beyond very soon. Even 9 was considered excessively high.

The real reason the Lira rebounded a bit recently was because all of the Forex investors who were shorting the Lira simultaneously closed their positions to reap in profits and cash out. This led to successive stop loss orders being triggered. I have friends who invested heavily against the Lira and made insane profits.

Erdogans plan won't work since it relies on printing even more Lira, which will ultimately lead to more devaluation, inflation and economic ruin. Most Turks can't even afford to buy meat anymore. It's game over. The damage is done. If Erdogan would have raised the interest rates 5 years ago then Turkey's economy would be doing okay. Now it's far too late.

even $2 billion was enouh to fall 1 USD from 18 TL to 12 TL

İf Turkish People dont take Dollars then nobody can rise Dollars to 18 TL again

and 2 days ago Turkey's government has provided guarantees to citizens hit by a currency crash with money
No Turkish citizen will have to move their savings from the Turkish lira to a foreign currency

New mechanisms to protect the lira unveiled by Turkey this week include a system to compensate lira depositors for foreign currency fluctuations, while encouraging citizens to move towards Turkish lira-based assets

 

[MMM-E]

Europeans tend to go there for cheap thrills and prostitutes. Have fun.

Russian,Armenian,Persian prostitutes in Turkey .. have fun

15 years ago the Lira was almost on par against the US Dollar It was 1.2-1.5 for a while. This was however after Erdogan cut 6 zeros from the Lira since it was 1 million against 1 US Dollar when Erdogan came to power.

LED BY ERDOGAN

1 USD has risen to 1,8 TL from 1,3 TL between 2003 and 2013
1 USD has risen to 12 TL from 1,8 TL between 2013 and 2021

because , since 2013 asymmetric-economic war between Turkey and USA-their terrorists FETO , PKK/YPG

-- 2013 Gezi Park rebellion
-- 2013 FETO's judical coup attemp
-- 2015 PKK's big rebellion in 22 cities
-- 2015-17 ISIS's 14 major terror attacks in Turkey
-- 2016 FETO's military coup attempt
-- 2017-2018 TRUMP's attack on Turkish Economy
-- 2021 negative speculation over Turkish Lira

 

[dBSPL]

15 years ago the Lira was almost on par against the US Dollar It was 1.2-1.5 for a while. This was however after Erdogan cut 6 zeros from the Lira since it was 1 million against 1 US Dollar when Erdogan came to power.

Anyways from 15 years ago until now from 1.2 to around 12 today. As a tourist you're obviously going to be paying tourist prices with some vendors simply using dollar rates to determine prices, but if you have a Turkish friend and convert your EUR or USD to Lira, everything will be dirt cheap.



View attachment 802860

At least the government didn't do more stupid thing such a fix the exchange rate.

Europeans tend to go there for cheap thrills and prostitutes. Have fun.

View attachment 802860

Also Iranian whores are part of the nightlife in Turkey. What harm could there be in that? Turkey is a free and affordable country...

 

[MMM-E]

Erdogans plan won't work since it relies on printing even more Lira, which will ultimately lead to more devaluation, inflation and economic ruin. Most Turks can't even afford to buy meat anymore. It's game over. The damage is done. If Erdogan would have raised the interest rates 5 years ago then Turkey's economy would be doing fine right now.

All enemies are crying now

since 2013 , Erdogan kicked all dirty plans

-- 2013 Gezi Park rebellion
-- 2013 FETO's judical coup attemp
-- 2015 PKK's big rebellion in 22 cities
-- 2015-17 ISIS's 14 major terror attacks in Turkey
-- 2016 FETO's military coup attempt


3 days ago Erdogan again kicked dirty plan ...... game over

Erdogan blocked negative speculation over Turkish Lira

lets see how Erdogan's new economic model will boost production, jobs, exports and growth.
and to fall Dollars

 

[Battlion25]

The Lira is finished thanks to Erdonomics. It's likely going past 20 and beyond very soon. Even 9 was considered excessively high.

The real reason the Lira rebounded a bit recently was because all of the Forex investors who were shorting the Lira simultaneously closed their positions to reap in profits and cash out. This led to successive stop loss orders being triggered. I have friends who invested heavily against the Lira and made insane profits.

Erdogans plan won't work since it relies on printing even more Lira, which will ultimately lead to more devaluation, inflation and economic ruin. Most Turks can't even afford to buy meat anymore. It's game over. The damage is done. If Erdogan would have raised the interest rates 5 years ago then Turkey's economy would be doing okay. Now it's far too late.

Coming from a guy who has the worst currency on earth....

1 USD trades at 42262,50 Iranian rial

 

[dBSPL]

Coming from a guy who has the worst currency on the earth....

1 USD trades at 42262,50 Iranian rial

This is the fixed central bank exchange rate. You can't find dollars at these rates in the street markets. Iranians come to Van, buy dollars, then cross the border back with the money they put in their pants.

 

[sha ah]

I'm not sure where you're getting your sources but according to the World Bank the GDP per capita (PPP) for Turkey was around 28,000 in 2018. In 2018 the Lira was 4 against the US Dollar. It's closer to 12 now. If you do the math, the current rate is closer to 9000.

Turkish economy is 2nd fastests growing economy in OECD
Turkish economy is rising



and as dBSPL said when exchange rates deviate significantly from their long term equilibrium due to speculative attacks or carry trade, a PPP exchange rate offers a better alternative for comparison.


because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita income.

real power is GDP PPP per capita to compare poverty and human development index )

Turkey : $32.278
Russia : $29.485
China : $18.931
İran : $13.513
Egypt : $13.083
India : $7.333

 

[dBSPL]

I'm not sure where you're getting your sources but according to the World Bank the GDP per capita (PPP) for Turkey was around 28,000 in 2018. In 2018 the Lira was 4 against the US Dollar. It's closer to 12 now. If you do the math, the current rate is closer to 9000.

Are you sure you know what PPP is?

 

[Battlion25]

This is the fixed central bank exchange rate. You can't find dollars at these rates in the street markets. Iranians come to Van, buy dollars, then cross the border back with the money they put in their pants.

Lmao so they come to Turkey to get dollars

 

[MMM-E]

Are you sure you know what PPP is?

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sıfır bilgi

I've been dealing with this team for months.
they have zero knowledge