Turkish lira slide triggers fresh central bank intervention

[Indos]

Today I read in the press he cites religion is guidance for his politics.

I have different interpretation about it as you can see on my post that you quoted, religion also needs expert who understand it deeply. Turkey Lira is traded in liberal market system, the ups and downs will be based on the liberal market system.

 

[dBSPL]

Facepalm. Not knowing that Turkey is one of the 5 biggest producers and exporters in the world in his example when talking like an expert about Turkey and trying to sayin something negative. Sometimes words not enough.

... makes farmlands into building ghettos. You can’t plant tomatoes in bungalows...

 

[Indos]

This is data, USA will do tapering until first semester of 2022 and very possible interest rate hike as USD is currently sit at negative interest rate already due to US high inflation ( 6 %). It means huge pressure for weak currency ahead ( at least until first semester of 2022 ends ).

 

[Viet]

I have different interpretation about it as you can see on my post that you quoted, religion also needs expert who understand it deeply. Turkey Lira is traded in liberal market system, the ups and downs will be based on the liberal market system.

It’s never a good thing to bring in religion or anything else. It’s all supply and demand. Dollar or Lira is like tomato. The more people want to buy tomatoes the lesser tomatoes to buy the higher the price. Erdogan does not believe to such simple thing.

 

[Indos]

This is data, USA will do tapering until first semester of 2022 and very possible interest rate hike as USD is currently sit at negative interest rate already due to US high inflation ( 6 %). It means huge pressure for weak currency ahead ( at least until first semester of 2022 ends ).

View attachment 802353

In order to strengthen the currency, some vulnerable countries have already increase the interest rate like Pakistan. Then you will know what will happen to country that even decrease its interest rate in this kind of environment. Dont talk on technical analysist on currency trading that usually only true for spot and short term trading, long term valuation will always be based on the economic fundamental.

 

[dBSPL]

At the moment, I recommend you to be careful while opening a position in TRY-USD parity.
View attachment 802343

Currently 12.1. If it breaks down 12 hard, things can get weird. Many USD-TRY traders who haven't been following the news well in the last 24 hours probably have been liquidated or has serious losses according to this chart.

 

[thetutle]

Currently 12.1. If it breaks down 12 hard, things can get weird. Many USD-TRY traders who haven't been following the news well in the last 24 hours probably have been liquidated or has serious losses according to this chart.

Today is "margin call day". Ouch these speculators just got hit hard. Good

 

[MMM-E]

The lira hit a record low beyond 18 against the USD yesterday


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



USD fall 30% in value against Turkish lira upon Erdoğan's statements


ERDOGAN = Turkey will no longer be a country dependent on imports

ERDOGAN = 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

ERDOGAN = Stoppage (deductions) on companies' dividend payments will also be lowered to 10%

ERDOGAN = The state subsidy rate on the personal pension system will be raised significantly from 5% to 30% in order to boost its appea



there is no economic crisis in Turkiye

Turkey is adamant on its new economic model that prioritizes lower interest rates, high employment numbers and more investments ..... to boost production, jobs, exports and growth

Every body knows that high interest rate is not good to real economic sector, but there is monetary reality that you need to deal in order to solve this Lira huge depreciation. As I said, leave the issue to the expert, they have spend much time learning economics and with many case studies happened around the world and in different period.

ERDOGAN's approach would ultimately make Turkey less dependent on outside factors such as the scale of foreign investment and the price of commodity goods




Turkey is the 11th country with the highest policy rate in the world; in the first place in Europe


Zimbabwe (60)
Venezuela (56.86)
Argentina (38)
Yemen (27)
Angola (20)
Liberia (20)
Sudan (18.3)
Iran (18)
Haiti (17)
South Sudan (15)
Turkey (14)

Belarus 9.25
Ukraine 8.5
Russia 7.5
Moldova 5.5
Bosnia and Herzegovina 3.44
Czech Republic 2.75
Croatia 2,5
Hungary 2.1
Iceland 2
Romania 1.75
Macedonia 1.25
Poland 0.5
Serbia 1
Albania 0.5
Poland 0.5
Norway 0.25
United Kingdom 0.1
Bulgaria 0
Eurozone 0
Sweden 0
Denmark -0.6
Switzerland -0.75

 

[IblinI]

USD fall 30% in value against Turkish lira upon Erdoğan's statements

making this sentence bold and feeling proud about it...yeah, every word of it sounds just normal to you, right?

 

[MMM-E]

making this sentence bold and feeling proud about it...yeah, every word of it sounds just normal to you, right?

8 days ago You said that Lira is at 15:1 US dollar now, let's see how much it is worth when Mr mmme comes back.

I came back today and 1 USD = 12 TL

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

Thanks to ERDOGAN's smart move yesterday

 

[IblinI]

8 days ago You said that Lira is at 15:1 US dollar now, let's see how much it is worth when Mr mmme comes back.

I came back today and 1 USD = 12 TL

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

Thanks to ERDOGAN's smart move yesterday

Yes, I did say that, but but but, you prefer this roller coaster and stock market melt down and think it's perfectly ok and normal? fine.

 

[MMM-E]

Yes, I did say that, but but but, you prefer this roller coaster and stock market melt down and think it's perfectly ok and normal? fine.

Turkish Economy is 2nd fastests growing Economy in OECD
Erdogan blocked negative speculation over Turkish Lira

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

 

[IblinI]

Thanks to ERDOGAN's smart move yesterday

ERDOGAN's approach

ERDOGAN

ERDOGAN

ERDOGAN

ERDOGAN

 

[MMM-E]

long live ERDOGAN ( President of Turkiye )

all enemies are crying now .....

 

[ChineseTiger1986]

Seriously, there is no point to continue to make fun about Turkey.

The US just wants to salvage their precious greenback by destroying other currencies.

Hopefully that Erdogan can see that cooperating with China-Russia is the only solution to save Turkey's economy.