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Old 16th May 2020, 16:26   #2861 (permalink)
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Re: Watch The Lira Now

Quote:
Originally Posted by enoch View Post
Turkey lira swaps by Sozcu Gazetesi

https://www.sozcu.com.tr/2020/ekonom...suyor-5815781/
I read they were out there looking for help. As worried and unsure about the big one they were relying on .... With Trump being so volatile and unreliable .

( I am sure the Boss has something on Trump or promised something in the future , as he comes often to his aid )
A must read..
https://www.intellinews.com/bar-high...banker-183160/

As for the others Qatar was a shoe in as tight with this Government in joint support for Islamic militia in ME , Qatar has helped him out financially before...

The Chinese saw this closeness building, especially plenty money pouring into Istanbul in Turko/Chinese Projects ...and have read, in return the Turk Govt has toned down support and criticism of treatment of the Uighur's .... no free money in this World it seems.

London and Tokyo new though .....

Last edited by Camden; 16th May 2020 at 17:15..
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Old 18th May 2020, 08:41   #2862 (permalink)
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Re: Watch The Lira Now

Quote:
Originally Posted by Jaycey View Post
IMO both the GBP & the TL are in for a rocky ride and to say which is the stronger is the stuff of headaches unless relatied to a stable standard ie. Swiss franc.

We’re putting our cash into long term rental property - a decent 2-bed apartment goes for around $40K and a nice 3-bed detached house for $80K

Assuming constant occupancy this gives a return of 20%.

Probably different though in UK or Turkey
Certainly different in the UK. In Kent where we are 2 bed properties cost a minimum of £150k & you are lucky to get 4 or 5% on your investment. In the past few years we have still invested as even 4 or 5% is a lot more than a savings account, plus we were hoping to of made gains over the years in the value of each property. That may not now be the case in the short term with Covid possibly devaluing them all.
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Old 18th May 2020, 23:31   #2863 (permalink)
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Re: Watch The Lira Now

Erdogon Vows to Punish Those Who 'Smuggle' Dollars Out of turkey

https://www.com.bnnbloomberg.ca/erdo...rkey-1.1437909

Last edited by enoch; 19th May 2020 at 09:04..
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Old 19th May 2020, 07:13   #2864 (permalink)
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Re: Watch The Lira Now

We smuggle sterling in!
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Old 19th May 2020, 09:04   #2865 (permalink)
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Re: Watch The Lira Now

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Originally Posted by IbrahimAbi View Post
We smuggle sterling in!
Try taking it out now.
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Old 19th May 2020, 09:11   #2866 (permalink)
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Re: Watch The Lira Now

Quote:
Originally Posted by enoch View Post
Try taking it out now.
Why would I, we live here.
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Old 20th May 2020, 17:48   #2867 (permalink)
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Re: Watch The Lira Now

Lira- Averse Banks Raise Concern in Turkey of Another Dollar rush'

https://www.bloomberg.com/news/artic...er-dollar-rush

It's on bloomberg's home page.

Last edited by enoch; 20th May 2020 at 17:51..
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Old 21st May 2020, 12:42   #2868 (permalink)
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Re: Watch The Lira Now

ANKARA

The Turkish Central Bank on Thursday lowered its one-week repo rate by 50 base points, in line with market expectation.

A statement from the bank's fifth of 12 Monetary Policy Committee (MPC) meetings scheduled for this year said the policy rate was dropped to 8.25% from 8.75%.

According to Anadolu Agency's survey on Monday, a group of 17 economists expected a drop in one-week repo rate with a median of 50 base points.

In April, the Central Bank cut its interest rate by full point amid coronavirus fears to 8.75% from 9.75% following reductions over the last ten months.

Since the beginning of this year, the bank has cut the rate by a total of 375 basis points.

In 2019, the bank cut the rate gradually by 1,200 basis points to 12% from 24%.

https://www.aa.com.tr/en/economy/tur...-50bps/1849058
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Old 21st May 2020, 13:20   #2869 (permalink)
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Re: Watch The Lira Now

Nine banks ratings have been dropped to negative by Fitch.

https://www.cumhuriyet.com.tr/haber/...usurdu-1740147

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Old 21st May 2020, 13:33   #2870 (permalink)
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Re: Watch The Lira Now

I'm just glad we got our money converted to Sterling and transferred to the UK last week. It might be sat in savings accounts, income bonds and premium bonds paying not much over 1% at present but it's got one thing it didn't have in Turkey - security and up to £85K per account.
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