IbrahimAbi

Grey wisdom
Watch The Lira Now
Heading back towards 10 TL to GBP, I can't bring myself to change any sterling below this. Lentils again tonight
 

Camden

Member
Watch The Lira Now

Turkish lira extends decline after gov't defends past policies


ISTANBUL (Reuters) - Turkey’s lira declined 1% on Wednesday to its weakest level against the dollar in nearly three weeks, under pressure after the government’s defence of former finance minister Berat Albayrak and speculation over his possible return to cabinet.

Dealers say this week’s lira losses were triggered by Presidents defence of the " son in law ", whose time in office coincided with a sharp slide in the lira. The central bank’s FX reserves were also badly depleted due to a policy of state banks selling $130 billion to support the lira.

The lira had rallied more than 20% after Albayrak and Uysal departed, as investors expected tight monetary policy and a more orthodox approach after years of perceived mismanagement.

 

Camden

Member
Watch The Lira Now
Citizens with savings in Turkish Lira, use financial investment tools both to protect the value of their savings against inflation and to generate returns.

The high course of inflation and the sharp decline in the value of TL in recent years have also increased interest in financial investment instruments.

Undoubtedly, the most prominent of these tools is hard foreign currency and gold.

Especially in the last year, interest in Borsa Istanbul has also increased. TL deposits are also among the choices. Government domestic debt securities (GDS) are also among these instruments, although more with corporate investors rather than individual investors, who prefer them.

Sozcu.com.t and Turkey Statistics Institute (TSI), has rated the return on financial investment instruments' We analyzed the data using the 10-year cumulative performance 24subatfinansgraf.jpg

Mevduat lira deposit / Altin gold / ... BIST 100 Index stock exchange/ DIBS Development Impact Bonds

GOLD IS AT THE TOP OF THE RETURN

The nominal earning of the citizen, who invested 100 TL in gold in January 2011, was accrued annually and reached 546.2 TL in January 2021. 100 TL in January 2011 was 646.2 TL in January 2021.

Real earnings ratio is obtained when nominal earnings are discounted by consumer inflation. The real rate of return is 129.9 percent in 10 years.

DOLLAR SECOND, EURO THIRD

The citizen, who invested 100 TL in US dollars in January 2011, accrued the return on an annual basis and reached 374.7 TL in January 2021. 100 TL in January 2011 was 474.7 TL in January 2021.

The citizen, who invested in dollars 10 years ago, achieved a real return of 68.9 percent in this period.


The citizen who invested 100 TL in the euro in January 2011, accrued the return on an annual basis and reached 332.5 TL in January 2021. 100 TL in January 2011 was 432.5 TL in January 2021.


continued
10-year cumulative real return in Euro was 53.9 percent.https://www.sozcu.com.tr/2021/ekonomi/son-10-yilda-hangi-yatirim-araclari-kazandirdi-hangileri-hayal-kirikligi-yaratti-6278444/
 
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Camden

Member
Watch The Lira Now

The Central ask banks: to use small denominated banknotes instead of 200 TL notes at ATMs

The Central Bank asked banks to use small denominated banknotes instead of 200 TL at ATMs ... to help in the fight against inflation.


shutterstock_1822147712_16_9_1614238148-880x495.jpg

 

enoch

Member
Watch The Lira Now

The Central ask banks: to use small denominated banknotes instead of 200 TL notes at ATMs

The Central Bank asked banks to use small denominated banknotes instead of 200 TL at ATMs ... to help in the fight against inflation.


View attachment 21198

It would be easier to leave them empty.
 

enoch

Member
Watch The Lira Now
The investors are not happy with the the way things are going back. Changing internal interest rates instead of a straight interest rate increase
 

Camden

Member
Watch The Lira Now

Inflation unfortunately exceeded what was expected and rose to 15.61 percent annual , so the pressure will be on an interest rate increase by CBRT ( Turkish Central Bank )

In February, inflation rose to 15.61 percent annually. Speaking to Sozcu.com.tr, former chief economist of the CBRT, Prof. Dr. Hakan Kara and Rabobank strategist Piotr Matys commented on the course of inflation and the increasing pressure on the CBRT for interest rate increases .





Turkey’s central bank hiked its benchmark interest rate to 17 percent from 8.25 percent in the final four months of last year to curb price increases and defend the lira. It left rates on hold in January and February but after todays inflation rate figures the pressure is on, especially as these figures are only the official rate (not the reality ) overseas/local investors will be closely watching to see if the TCB is truly Independent, or still has a guiding hand of the old failed policy .... we wont have to wait long to see as the central bank's monetary policy committee is due to hold its monthly meeting on interest rates on March 18.
 
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j in bo

Member
Watch The Lira Now
I believe last weeks message of intentions from the government for a more fair and open society was a direct signal to the new U.S. President, they don't want a argument or more sanctions. This should lead to the continued strengthening of the TL against £ towards 8
 

j in bo

Member
Watch The Lira Now
I my adjust my forecast ! With the lira gaining strength through January, I could see a trend leading it, to straighten more than 10%. Then the son-in-law came back into the conversation and the bond market got jitters the poor old lira buckled
Due to these unforeseen hiccups. I will revise the forecast. 1 gbp to 8.10 tl.
There is a pm button, if anyone would like person financial advise, I suggest you message Someone else.
interesting to see what the Turkish central bank boss does this month,regarding interest rates.
 

immac

Senior Member Has-Been
Watch The Lira Now
I my adjust my forecast ! With the lira gaining strength through January, I could see a trend leading it, to straighten more than 10%. Then the son-in-law came back into the conversation and the bond market got jitters the poor old lira buckled
Due to these unforeseen hiccups. I will revise the forecast. 1 gbp to 8.10 tl.
There is a pm button, if anyone would like person financial advise, I suggest you message Someone else.
interesting to see what the Turkish central bank boss does this month,regarding interest rates.
Do you really think the TL is going to £1=8.1TL?
In reality the trend line is fairly constant over the last few years, and it is down, down, down. There are a few blips along the way when the Central Bank throws money at it, but the basics have not changed, nor has the trend; the forecasts are routinely hugely underestimated, and targets always missed; political interference, based on ideology rather than economics, will always pull the rug out from any serious strategy.
I have not seen anything to suggest an improvement in the TL's prospects.

Ian
 

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