Turkey’s rising sign dollar… Every day he goes to the cove.
As a matter of fact, it will not be a surprise to hear this phrase almost every week from now on. “Dollar, Against the Turkish Lira, it broke a record!”
Recently your dollar It is also possible to strengthen against almost every currency, but if we look at the last year, the table Turkish lira It’s pretty painful for the… The truth of the matter Turkish lira lowered!
exactly a year ago dollar it was 8.67 today… It rose 112 percent.
For “free install” it is not implemented. Apparent exchange rate with anchor dollar trying to keep it under control. If it is still increasing despite all the covert capital control, interventions and this pressure, then there is a problem… Is there any? There is!
It’s cheaper to borrow with dollars!
The ability of the Central Bank not to let people who trusted it fail, did not work well because there was no one left to trust the Central Bank.
It lowered interest rates by 100 basis points, or 1%. What did he notice? Will banks give more loans now?
The interesting part is that the Treasury is 5 years old. Turkish lira same maturity while borrowing with 10.43 percent dollar On the basis of Eurobond interest rate is 10.55 percent. Turkish lira borrowing with United states dollar It’s cheaper than borrowing. The situation is becoming unsustainable.
It is clear that those who buy bonds from here will make a big loss… They forced banks to buy them, but they also comply to a certain extent. Then the job explodes…
To what extent does pressure on the dollar work?
both dollar Both interest suppression attempts have been tried many times before and the result has not changed. After a while, they both flew away like arrows from a stretched bow. Can someone tell me why a different result is expected this time?
They think they can always hold the strings in their hands. Of course they are wrong. Maybe one, two, at most until the New Year’s Eve… If money comes from somewhere from outside… Otherwise, whatever they do is useless…
Why, because they are printing money, expanding, trying to distribute credit. What will be the address of the printed money?
Foreign debt payments, energy imports, closing the current account deficit… dollar… They do not accept the money you print.
Because the perception of “Turkey is at risk of bankruptcy” among foreigners is so high that if we ask for debt, dollar They charge very high interest rates.
Those who intend to close their credits should pay their money. in foreign currency He will want to translate it, then he will send it abroad. There will be a net outflow of foreign currency from the country. Or what will happen?
Dollar always up
Let’s gather all the developments and boil them… Turkish lira will always lose value. How else will it be expected to act with inflation, which is even officially 80 percent?
What does the Central Bank do? Come on, what if he intervened heavily… As a minor snag, he has no foreign currency reserves! He finished it… In fact, the Central Bank reserves 52 billion dollar went into minus… Summer is over. Even tourism revenues in high season were not enough to increase the reserves.
They always play to the stands, they find an excuse… They don’t say that we managed badly, that we got into debt that we could not get up, they create enemies and curse.
The horizon of the irrevocable evening
Currency Protected Deposit The only branch that the economy management clings to… Banks do not even give loans to companies that do not invest there.
The deposit is about 80 billion dollar… They have to keep going whether they want it or not. What will they do? Let alone the reserves of the Central Bank, that much money does not come from all banks…
The critical point here is the opposition’s statement that it will not pay these monies. As the elections approach, possible exits from the system therefore dollar pumps up…
It is clear that things will not go back to the way they used to be… The genie is out of the bottle. The situation has come to such a level that we do not open palms in a mosque courtyard! Dollar don’t you increase
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