%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.
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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
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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?
Right now, Turkish Banks don't accept any foreign currency because the central bank is taking them immediately but also you can't withdraw any foreign currency. If you want to convert your foreign currency such as USD you need to lose %5 for that. Black markets have better prices even USD is nearly 21-22 right now.
As we see If the current government continues there will huge collapse like Argentina did because of guaranteed dollar accounts, right now it is equal to 100 billion dollars.
Current Debts:
Central bank: -75 Billion Dollars (When you add swaps it is more than 140 Billion Dollars) Protected Accounts -100 Billion Dollars Gas Dept For Russian: Over 10 Billion dollars More and More.
Nobody knows the real price for a dollar right now, If the government loses this election probably there will be a recovery phase. There will be huge scandals about corruption.
I hope everything will be good for the Türkiye.
shanableh1
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turkish opposition guy doing politics on a financial platform...thinks himself smart...continue like this my friend
kargaa
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@shanableh1, we see the results, I added this when USD was 6 Lira, now where are we my friend?
termics
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@shanableh1, oh look he was right again and again :D:D
kargaa
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Turkish Central Bank still shorting USD against TRY, 18.60 - 18.75 their main range and there will be elections in May. In both ways, there will be a lot of blood. If the government changes prices might drop by 10-12 or 30-40 big recession.
kargaa
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Targets achieved 👍 Next target might be 15 because of lower interest rates and high dxy
As we see If the current government continues there will huge collapse like Argentina did because of guaranteed dollar accounts, right now it is equal to 100 billion dollars.
Current Debts:
Central bank: -75 Billion Dollars (When you add swaps it is more than 140 Billion Dollars)
Protected Accounts -100 Billion Dollars
Gas Dept For Russian: Over 10 Billion dollars
More and More.
Nobody knows the real price for a dollar right now, If the government loses this election probably there will be a recovery phase. There will be huge scandals about corruption.
I hope everything will be good for the Türkiye.