%19 Interest rate, huge debts, vaccination progress is still very low.
Turkish Central Bank manager kicked out because of interest rates, but we have still a huge interest rate and USD/TRYis still going forward. What Turkey could do? No tourism income for now, no leverage hand for interest anymore.
Unfortunately, TRY will be 10 soon if we close daily above 8.58. Also, don't forget DXY is bleeding out what is gonna happen when DXY hits 98 again.
Not financial advice.
Turkish Central Bank manager kicked out because of interest rates, but we have still a huge interest rate and USD/TRYis still going forward. What Turkey could do? No tourism income for now, no leverage hand for interest anymore.
Unfortunately, TRY will be 10 soon if we close daily above 8.58. Also, don't forget DXY is bleeding out what is gonna happen when DXY hits 98 again.
Not financial advice.
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Also forget to mention that, Turkish Central Banks are totally empty due to old financial minister's genius idea to short USD with reserves.
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TRY 8.77, Interest rates are still %19, Dxy is going up, can TRY service under that kind of pressure when Turkey has to pay a lot of debts, especially tourism suffered hugely due to Corona. Vaccination started lately this month.
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Interest rates are now %18, 8.85 holds by central banks daily selling 1B dollar
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The interest rate dropped to %16 and we got our TP1 9.6, It looks like there will be a black hole soon If we pass through 10.00.
I can't imagine what strong DXY will do
I can't imagine what strong DXY will do
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Turkey has offered guarantee interest rates for Dollar rates, that means If dollar goes to 20 TRY, Turkey will be bankrupt
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Still, nothing changed only swap money shorting USD and people don't look USD as an investment right now but thinks going to change with huge debt and election?
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Same things...
