TR Economy & Updates

[Turko]

We cant keep up the pace

Vay AMK. İ would never believe it.
Currently 1 TL equal to 1.5 HRN

 

[Manomed]

President Erdogan to TUSKON, which was formed by FETO-supporting businessmen and was closed after July 15: "Here they are, let them make their investments.

 

[Xenon54]

Even made our way to the Japanese media outlets with those queues for halk ekmek, a friend called me to make sure i am 'ok'. I have never been ashamed more in my life this far. I could explain the coup night in a sensible way to them but i can not explain those bread queues and the shrinking Lira value and news about the recent financial policy.

You know those who claim to have been standing in queue for butter and gas 50 years ago are now standing for bread and vegetables but they are all like ''we are doing great''.

The old generation has ruined the country.

 

[Ravenman]

 

[Cabatli_TR]

Dollar: 13,80TL
Euro: 15,50TL

 

[Combat-Master]

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

Bloomberg - Are you a robot?

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

 

[Rodeo]

Dollar: 13,80TL
Euro: 15,50TL

It's an interesting move. He literally indexed the interest rate to dollar rate without saying it. Now the Islamists will say he fixed the economy without increasing the interest rates. And the rest of Turkey will(maybe) protect their money against dollar by this system. We should wait and see if people will buy this and lug their dollars to the banks. If not, it can possibly create a massive load on the financial systems. I don't know how banks will foot the bill. They're probably going to print more money to pay the difference. And that might cause extra inflation.

The water is too muddy right now. I think we should wait a week to see the true reaction. Then we could speculate more accurately.

Having said this, this didn't change any of Turkey's fundamental problems. Which are education, freedom, reign of law, producing high value-added products etc. This move equates to every reputable economist's advice of hiking interest rate. But it also made possible Erdogan to save his face.

Related to this, how can we see such drastic changes when the market is closed? Can anyone with knowledge inform me(us?). Is this a low volume sell or something? Who sells it and how? Through which medium?

 

[Cabatli_TR]

Erdogan, the size of the investment agreement with the two countries is 30 billion dollars.

 

[Cabatli_TR]

Deliveries and services related to defense industry projects carried out by the Presidency of Defense Industries (SSB) will be included in the value added tax exemption (KDV).

 

[Manomed]

Started to rise again lol

 

[HTurk]

Forex...

 

[Turko]

Because someone agreed to increase interest rates but can't admit it.

Craziness. Just Speculating markets. Let's see.

 

[Combat-Master]

Dollar: 13,80TL
Euro: 15,50TL

Dollar: 13.37TL
Euro: 15.09TL

 

[Manomed]

To TVRK fellas here buy more dollars and euros If you want to save up some money during this dumpfire.

Im pretty sure they will do something retarded again and It will rise up

 

[Rodeo]

I can't help but thinking what will happen when FED raises interest rates and make dollar more valuable? Because that's not in our hands. If we're running the interest rate on dollar then that could bring immense pressure to our banks. Besides, we can't buy any dollar,euro, gold etc right now. The online system doesn't allow it. We don't know how will people react to this news. If they see this as a buying opportunity then we're truly screwed.

 

[Anmdt]

It's an interesting move. He literally indexed the interest rate to dollar rate without saying it. Now the Islamists will say he fixed the economy without increasing the interest rates. And the rest of Turkey will(maybe) protect their money against dollar by this system. We should wait and see if people will buy this and lug their dollars to the banks. If not, it can possibly create a massive load on the financial systems. I don't know how banks will foot the bill. They're probably going to print more money to pay the difference. And that might cause extra inflation.

The water is too muddy right now. I think we should wait a week to see the true reaction. Then we could speculate more accurately.

Having said this, this didn't change any of Turkey's fundamental problems. Which are education, freedom, reign of law, producing high value-added products etc. This move equates to every reputable economist's advice of hiking interest rate. But it also made possible Erdogan to save his face.

Related to this, how can we see such drastic changes when the market is closed? Can anyone with knowledge inform me(us?). Is this a low volume sell or something? Who sells it and how? Through which medium?

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.

 

[Manomed]

Im happy for the average Turkish Citizen right now some families were in the Hunger line

 

[Anmdt]

I can't help but thinking what will happen when FED raises interest rates and make dollar more valuable? Because that's not in our hands. If we're running the interest rate on dollar then that could bring immense pressure to our banks. Besides, we can't buy any dollar,euro, gold etc right now. The online system doesn't allow it. We don't know how will people react to this news. If they see this as a buying opportunity then we're truly screwed.

It is unsure how they will apply this scheme. Likely through some bonds that banks will buy from central bank and then banks will resell to people. (Like what Kemal dervis has done in 2001).
If dolar rises beyond a point they will either need to increase the interests in parallel or dive deep into the hyperinflation. Luckily this seems to be a limited operation, open for a short term and it won't be there forever.
But secretly they have admitted the crisis, without even mentioning of it.

 

[Rodeo]

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.

stabilizes? That word is a joke to me. We're living in a la la land.

 

[Turko]

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.