Turkish lira slide triggers fresh central bank intervention

[sha ah]

I didn't want to make this personal but I must have hit a chord.

Anyways the Lira has devalued far more than Iran's currency in the last few years. Also Iran is under tremendous sanctions. Turkey is a member of NATO and an aspiring member of the EU.

Btw Iran just reformed its currency, so it's 30 against the US Dollar currently. Remember 15 years ago when the Lira was 1 million against the US Dollar ?

So if you want to take that into consideration then you're at what 12 million Lira vs 1 US Dollar ? Congratulations.

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

1 USD trades at 42262,50 Iranian rial

 

[Foinikas]

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

Yes,now it rains money.

 

[Battlion25]

I didn't want to make this personal but I must have hit a chord.

Anyways the Lira has devalued far more than Iran's currency in the last few years. Also Iran is under tremendous sanctions. Turkey is a member of NATO and an aspiring member of the EU.

Btw Iran just reformed its currency, so it's 30 against the US Dollar currently. Remember 15 years ago when the Lira was 1 million against the US Dollar ?

So if you want to take that into consideration then you're at what 12 million Lira vs 1 US Dollar ? Congratulations.

View attachment 802867

1 million Lira?

12 million Lira for one 1 USD? really is that how far low your mental capacity is at..

 

[MH.Yang]

Are you sure you know what PPP is?

Currency devaluation will not damage PPP, but CPI can. What is the CPI of Turkey in 2021?
I remember that in November 2021, Turkey's CPI increased by 21% year-on-year. In December 2021, Turkey's CPI should exceed 30% year-on-year.

In 2020, the per capita GDP of Turkey was USD 8500. PPP 27700 USD per capita.
In 2021, Turkey's local currency growth should be about 9%. CPI is about 30%. PPP per capita should be USD 21200. Per capita GDP should be $4600.

In 2020, China's per capita GDP is USD 11300 and per capita ppp17200. In 2021, China's CPI was 0.8%. The local currency increased by 8.5%. The currency appreciated by 6%. Therefore, in 2021, China's per capita GDP is about 13000 US dollars and per capita PPP is about 18700 US dollars.

So the prediction you sent about 2021 is obviously wrong. It was released in 2019, so it did not predict the economic collapse of Turkey this year.
The truth should be:
1, Turkey
Per capita GDP $4600
Per capita PPP $21200
2, China
Per capita GDP $13000
Per capita PPP $18700

 

[MMM-E]

Yes,now it rains money.

even Turkish People has $230 billion in Turkish Banks ... ( bigger than Greece's GDP )
even I am not talking about 5.000 - 7.500 tons of Gold which own by Turkish People at home

even Turkey's export = $212 billion ..... ( bigger than Greece's GDP )
also every year over 5 million Turks brings $5-10 billion to Turkey from abroad including Germany


final target is about Import

1.200+ projects will reduce import by $120 billion annualy

10 years x $120 billion = $1,2 trillion

that means Turkish goverment will spend $1,2 trillion to develop Turkey and Turkish people living standard instead of paying for imports

 

[retaxis]

even Turkish People has $230 billion in Turkish Banks ... ( bigger than Greece's GDP )
even I am not talking about 5.000 - 7.500 tons of Gold which own by Turkish People at home

even Turkey's export = $212 billion ..... ( bigger than Greece's GDP )
also every year over 5 million Turks brings $5-10 billion to Turkey from abroad including Germany


final target is about Import

1.200+ projects will reduce import by $120 billion annualy

10 years x $120 billion = $1,2 trillion

that means Turkish goverment will spend $1,2 trillion to develop Turkey and Turkish people living standard instead of paying for imports

U Say Turkey economy is growing fast then why Saudi/Indonesia etc overtake Turkey so easily. Many more economies going to over take turkey too like nigeria/Iran

Mexico	Americas	1,192,480	2021	1,256,440	2019	1,076,163	2020
Indonesia	Asia	1,158,783	2021	1,119,190	2019	1,058,424	2020
Netherlands	Europe	1,012,598	2021	907,050	2019	912,242	2020
Switzerland	Europe	824,734	2021	731,425	2019	747,969	2020
Saudi Arabia	Asia	804,921	2021	792,966	2019	700,118	2020
Turkey	Asia	794,530	2021	761,425	2019	720,101	2020
Taiwan	Asia	759,104	[n 4]2021	669,034	2019	668,500	2020
Poland	Europe	642,121	2021	595,862	2019	594,165	2020
Sweden	Europe	625,948	2021	530,883	2019	537,610	2020
Belgium	Europe	578,996	2021	533,097	2019	515,333	2020
Thailand	Asia	538,735	2021	542,016	2019	501,795	2020
Iran	Asia	682,859	2021	603,779	2019	191,718	2020
Nigeria	Africa	514,049	2021	474,516	2019	432,294	2020

 

[Foinikas]

even Turkish People has $230 billion in Turkish Banks ... ( bigger than Greece's GDP )
even I am not talking about 5.000 - 7.500 tons of Gold which own by Turkish People at home

even Turkey's export = $212 billion ..... ( bigger than Greece's GDP )
also every year over 5 million Turks brings $5-10 billion to Turkey from abroad including Germany


final target is about Import

1.200+ projects will reduce import by $120 billion annualy

10 years x $120 billion = $1,2 trillion

that means Turkish goverment will spend $1,2 trillion to develop Turkey and Turkish people living standard instead of paying for imports

Even Erdoğan gave 100,000,000$ for charity to Muslim countries. You forgot to remind us.

 

[Apollon]

Everyone who disagrees with you is now the same person.. Just stop responding to the said person. Turkey's currency has bounced back.. Besides Turkey ain't being threatened with strikes by a tiny azz country in the area.. Crack this and crack that.. Even if you were to gather the whole world at Turkey's border they couldn't do jackshxt.. That is how confident Turkey is in it's self you can't teach that level of confidence you earn it thru history and prestige... Ain't nobody can bully a grey wolf that is just how life rolls

Grey wolfs usually get shot. Thats why they went nearly extinct in Europe

You should chose a stronger animal as symbol

 

[MMM-E]

In 2021, Turkey's local currency growth should be about 9%. CPI is about 30%. PPP per capita should be USD 21200. Per capita GDP should be $4600.

do you think Turkish economy is not rising ?

Turkish economy is 2nd fastests growing economy in OECD
so GDP PPP is also rising


btw CPI is 21,31 % now as like 15,78% in 2019


GDP PPP per capita
2019 : $ 28.424
2021 : $32.278

GDP PPP
2019 : $2.393 trillion
2021 : $2.749 trillion

 

[MH.Yang]

do you think Turkish economy is not rising ?

Turkish economy is 2nd fastests growing economy in OECD
so GDP PPP is also rising


btw CPI is 21,31 % now as like 15,78% in 2019


GDP PPP per capita
2019 : $ 28.424
2021 : $32.278

GDP PPP
2019 : $2.393 trillion
2021 : $2.749 trillion

Turkey's local currency growth should be about 9%


the prediction you sent about 2021 is obviously wrong. It was released in 2019, so it did not predict the economic collapse of Turkey this year.
The truth should be:
1, Turkey
Per capita GDP $4600
Per capita PPP $21200
2, China
Per capita GDP $13000
Per capita PPP $18700

BTW: Turkey's CPI in December 2021 must have exceeded 30%.

 

[MMM-E]

U Say Turkey economy is growing fast then why Saudi/Indonesia etc overtake Turkey so easily. Many more economies going to over take turkey too like nigeria/Iran

Nobody attack S.Arabia , Indonesia, etc


but 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
-- 2018 TRUMP's attack on Turkish Economy
-- 2021 negative speculation over Turkish Lira

Turkish currency/economy under attack since 2013
Turkish currency dropped by 664% since 2013


in 2013 , Turkey had bigger GDP Nominal ( $960 billion ) than İsrael+Egypt+İran combined

Turkish Economy 2nd fastests growing economy in OECD

If there were no attacks on the Turkish economy , Turkey would have min $1,6 trillion of GDP Nominal now instead of $794 billion

 

[MH.Yang]

Nobody attack S.Arabia , Indonesia, etc


but 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
-- 2018 TRUMP's attack on Turkish Economy
-- 2021 negative speculation over Turkish Lira

Turkish currency/economy under attack since 2013
Turkish currency dropped by 664% since 2013


in 2013 , Turkey had bigger GDP Nominal ( $960 billion ) than İsrael+Egypt+İran combined

Turkish Economy 2nd fastests growing economy in OECD

If there were no attacks on the Turkish economy , Turkey would have min $1,6 trillion of GDP Nominal now instead of $794 billion

To be honest, only China and the USA can save Turkey now. As for the EU, you know, just the EU is attacking Turkey.
Rapid currency devaluation will reduce people's confidence in the local currency, affect currency liquidity and ultimately affect economic growth.
The Turks either admit their mistakes to the Americans and abandon Erdogan, or come to East Asia to do a business. In 2009, the Greeks sold a port, and you can too.

 

[MMM-E]

the prediction you sent about 2021 is obviously wrong. It was released in 2019, so it did not predict the economic collapse of Turkey this year.

Turkey's local currency growth should be about 9%


the prediction you sent about 2021 is obviously wrong. It was released in 2019, so it did not predict the economic collapse of Turkey this year.
The truth should be:
1, Turkey
Per capita GDP $4600
Per capita PPP $21200
2, China
Per capita GDP $13000
Per capita PPP $18700

BTW: Turkey's CPI in December 2021 must have exceeded 30%.

you have wrong method


2013 Turkish GDP Nominal per capita $12.614
2020 Turkish GDP Nominal per capita $8.537

1 USD has risen to 7,2 TL from 1,8 TL ( dropped by 400% ) between 2013 and 2020

in your method , in 2020 , Turkish GDP Nominal per capita should be $3.153 , instead of $8.537

 

[MH.Yang]

you have wrong method


2013 Turkish GDP Nominal per capita $12.614
2020 Turkish GDP Nominal per capita $8.537

1 USD has risen to 7,2 TL from 1,8 TL ( dropped by 400% ) between 2013 and 2020

in your method , in 2020 , Turkish GDP Nominal per capita should be $2.134 , instead of $8.537

I won't be wrong. You can wait until 2022 to verify the data I calculated. The error will not be too large.

 

[MMM-E]

To be honest, only China and the USA can save Turkey now.
Rapid currency devaluation will reduce people's confidence in the local currency, affect currency liquidity and ultimately affect economic growth.
The Turks either admit their mistakes to the Americans or come to East Asia to do a business.

Greece produce almost nothing


We dont need hot money from anyone ... only SWAP deal with Qatar and The Uae
Turkey has great potential to become production-based Economy


final target is about Import ..... export is rising and import is falling

1.200+ projects will reduce import by $120 billion annualy

10 years x $120 billion = $1,2 trillion

that means to fall Dollars ....

and Turkish goverment will spend $1,2 trillion to develop Turkey and Turkish people living standard instead of paying for imports

also Turkey's export is rising ... new record in 2021 , $212 billion