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AbdulAzizAl-Bloshi
Dec 21, 2021 2:07 PM

20 for 1 ? 

U.S. Dollar/Turkish New LiraFXCM

Description

if no proper economic reforms happened in turkey;
we will expect the lira to push around 20 for 1 dollar.

Otherwise , it will stabilize around 9 lira's in exchange for 1 usd.

Not a buy/sell signal nor any economic inputs were used.
Comments
BurakB_
What is economic reform?
Umair_Saeed
@BurakB_, To begin with, stopping the intervention of political head in the autonomous function of CB. I had kept money in TL in my savings account and lost around USD 150k because of this political interventionism.
BurakB_
@Umair_Saeed, Now usdtry 12 from 18. It was pure speculation not economical reality.
Umair_Saeed
@BurakB_, I am a layman, not a trader. I have my corporate advisory business. I had deposited TL 2 Million ( by converting USD 300K which I transferred from my foreign account into Turkey) in my savings account in Halk Bank in June 2021. When the TL depreciated to 12, I couldn't tolerate any further loss and withdrew my funds from the bank (returned back the interest earned) and converted the money into USD, I received around USD 150K. And I am considered a smart one , I have been working as Corporate banker in Dubai before moving to Turkey. I gave you my personal verifiable example , just to prove a point that how detrimental the political interventionism for the system and for general people whose savings are turning into dust. I hope you got my point.
yipcode2018
@Umair_Saeed, good luck
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