TR Economy & Updates

[Manomed]

Erdogan just did this to gain more political Influence akp trolls on twitter are making handciapped statements atm

 

[Saithan]

Dollar, euro fall 20% against Turkish lira after Erdoğan's statements

The United States dollar and euro took an over 20% nosedive late Monday after President Recep Tayyip Erdoğan's statements in which he detailed...

www.dailysabah.com

 

[Manomed]

Dollar, euro fall 20% against Turkish lira after Erdoğan's statements

The United States dollar and euro took an over 20% nosedive late Monday after President Recep Tayyip Erdoğan's statements in which he detailed...

www.dailysabah.com

dailysabah is still same I see they can't say Reis raised the Interest rate lol

 

[Xenon54]

Did anyone take the opportunity and invest in some Turkish assets during this bearish run

View attachment 37482

Bloomberg - Are you a robot?

www.bloomberg.com

https://twitter.com/i/web/status/1473015494529757186

And how is he gonna pay for that?

 

[Manomed]

And how is he gonna pay for that?

Check your pockets.

 

[Agha Sher]

Hurray USD again 13TL..... respect and credibility


He is Just punishing Turkish citizens, neither foreigners nor rich people bought USD today for 18 except worried middle class.

Noone will trust him anymore. He committed political suicide today.

If lira goes down it is Erdogan fault. when lira goes up it is Erdogan fault. make up your mind.

 

[Manomed]

If lira goes down it is Erdogan fault. when lira goes up it is Erdogan fault. make up your mind.

Nah We are just saying he is the reason why dollar increased.

He literally pulled of a 1970s move to decrease dollar not a healthy move tbh

Erdogan is literally playing with us

 

[Nilgiri]

The market is very shallow right now and somebody dumped good amount of USD at the moment of the declaration, we will only see the truth at 9-10am when market opens and stabilizes.

TL will recover this is for sure.

The core fundamentals are not addressed.

This is (domestic) capital assurance move (involving likely last amounts of govt seignioriage, trust and subsidy levers to try assuage depositors and savers).

It is not as drastic as capital flight prevention move (which may still come next year)....but it is first step to buy some time....6 months like you said earlier for likely election range.

But you are right they now seem to acknowledge lira was definitely way too weak (w.r.t. current account elastiticity)....no matter what they say above (for "exports" and "investment").

It seems they have 20TL/USD as the rough precipice to intervene....or maybe damage done to floorboards will mean they now push this to ~ 18 or even less for next set of capital protection moves.

It (TL weakening from new lever setting imposed now) will build up there in next 6 months I think, as the core policy (lowering interest rate in high inflation arena) is still being commited to for the underlying bulk pressure provision of TL erosion.

The issue is this move (capital account intervention) adds to long term liability of TR govt whomever comes to power later. Turkish citizens will be paying for it over an extended time.

 

[Saithan]

If lira goes down it is Erdogan fault. when lira goes up it is Erdogan fault. make up your mind.

Ekonomistlere göre 'örtülü faiz artışı'

Döviz kurlarında atak devam ederken, döviz mevduatının çözülmesi ve yastık altını ekonomiye kazandırmak amacıyla sürpriz bir

www.veryansintv.com

President Erdogan's statement; According to economists, the 'currency difference' on TL deposits is an implicit interest increase.​

 

[Agha Sher]

Nah We are just saying he is the reason why dollar increased.

He literally pulled of a 1970s move to decrease dollar not a healthy move tbh

Erdogan is literally playing with us

If a cheap trick, the financial markets would not be stupid enough to buy it, no?

 

[Ecderha]

Nah We are just saying he is the reason why dollar increased.

He literally pulled of a 1970s move to decrease dollar not a healthy move tbh

Erdogan is literally playing with us

If we look history of all you post it is look like you are some guy with knowing everthing!?
What ever it is happening or gonna happend all actions taken by the current goverment officals is always "bad or foolish or not enough etc. for you.

At end I don't understand WHAT IS YOU POINT?
What you trying to say?

It is look like you are some kind of genious or just mad to the world?

 

[Turko]

If lira goes down it is Erdogan fault. when lira goes up it is Erdogan fault. make up your mind.

İf your national currency ,in a day ,20% Speculating, it is not my fault.

Why has TL lost its value for 12months? because someone consistently refused giving interest rates to TL deposits. He cursed interest rates but today promised giving guarantee TL yields. Is it professionalism and comprehensible?

He just destroyed financial environment. Today ordinary Turkish citizens bought USD for 18 TL , think why?

 

[Manomed]

m

If we look history of all you post it is look like you are some guy with knowing everthing!?
What ever it is happening or gonna happend all actions taken by the current goverment officals is always "bad or foolish or not enough etc. for you.

At end I don't understand WHAT IS YOU POINT?
What you trying to say?

It is look like you are some kind of genious or just mad to the world?

My point is Its late and Im bored I like to give my opinions here thats all.

also echerda I have no hatred against you I do like your posts etc chill.

 

[HTurk]

I hope that everybody here understands that Erdogan is clutching at any straw and this is definitily his last one. If things go down from here, our economy is going to be destroyed entirely or he will be forced to raise the interest rate by at least 10% + x.

This policy is wonderful if it works and for it to work properly and be a success, there are many requirements and preconditions that need to be fulfilled in the first place. I just don't see this right now.

 

[TheInsider]

I bought 120k TL worth of dollars this night around 13 TL per dollar. This was a great purchasing opportunity. BTW i converted all my assets to dollars when the dollar/TL ratio was 5.5. At the point when the real interest rate was %0 after the interest rate cuts.

What Erdo did tonight= He implicitly raised the interest rate with a huge caveat. If you stay at TL for 6 months you will get the regular interest rate plus %50 of the loss you suffer because of TL dollar ratio as compensation directly from the treasury. If you stay at the TL for a year you will be completely compensated for any loss you suffer from TL dollar ratio. This is a cheap parlor trick and markets won't buy this. Hyperinflation is coming strong starting from January 2022 and no one will stay at TL for six months to a year for partial or complete compensation of losses.

So lets say interest rate is %14 and dollar gained %20. If you stay at TL for six months you will gain %14+%3 (%50 compensation). If you stay for a year you will gain %14+%6(%100 compensation).

 

[Rodeo]

If a cheap trick, the financial markets would not be stupid enough to buy it, no?

We don't know who is selling and how much. Turkey's market was/is closed. Tomorrow we'll see the first results but the CB may still intervene if it sees an upward move of dollar. So we should wait a week to make the first solid observation. And if we see dollar rise tomorrow then there's nothing left for this government to build trust. Whatever comes from Erdogan's mouth would be ignored.

 

[Rodeo]

I bought 120k TL worth of dollars this night around 13 TL per dollar. This was a great purchasing opportunity. BTW i converted all my assets to dollars when the dollar/TL ratio was 5.5. At the point when the real interest rate was %0 after the interest rate cuts.

What Erdo did tonight= He implicitly raised the interest rate with a huge caveat. If you stay at TL for 6 months you will get the regular interest rate plus %50 of the loss you suffer because of TL dollar ratio as compensation directly from the treasury. If you stay at the TL for a year you will be completely compensated for any loss you suffer from TL dollar ratio. This is a cheap parlor trick and markets won't buy this. Hyperinflation is coming strong starting from January 2022 and no one will stay at TL for six months to a year for partial or complete compensation of losses.

Is this @TheInsider speaking as "the insider"? Because that sounds utterly dreadful.

 

[Turko]

1billion USD sold after the statement. Foreigners having left Turkish financial market , it became very shallow so little amount of money can create speculations. As i said it was just internal demand , there are no foreigners except Qatarians.

 

[Manomed]

Is this @TheInsider speaking as "the insider"? Because that sounds utterly dreadful.

He changed I guess he became hopeless just like us

 

[HTurk]

Ekonomistlere göre 'örtülü faiz artışı'

Döviz kurlarında atak devam ederken, döviz mevduatının çözülmesi ve yastık altını ekonomiye kazandırmak amacıyla sürpriz bir

www.veryansintv.com

The government is gonna pay the difference. Where is the state getting this extra money from? The central bank. It is a safety net that stops devalution for a moment but it won't turn your currency magically into hard gold. This is an emergency measure. It gives the system air to breath in emergency situations like a collaps while you push reforms through but is he really gonna reform our system in a positive way? I doubt it.