FORUM
  Home
  Forums
  Photo Gallery
  TLF Donations
  Forum Rules
  Register
  LINKS
  Property Buying Guide
  Cheap Flights
  Didim Google Map
  Weather Station
  Classified Ads
  Egyptian Living Forum
  FUN
  Arcade Games
  Daily Crossword
  Jen's Chat Room
  Lira Exchange Rates
Save on your hotel - www.hotelscombined.com
Old 11th January 2017, 07:33   #571 (permalink)
Senior Member Has-Been
 
immac's Avatar
 

Thanks: 2,459
Thanked 6,146 Times in 2,193 Posts
immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute
Re: Watch The Lira Now

There is going to be significant risk to El Presidente. He has worked to make himself top-dog with all the power, but the downside is he takes all the responsibility when things go wrong.
Major economic problems have been the undoing of many leaders, and he must be wondering how to deal with this. They have spent money like drunken sailors trying to prop up the currency and are running out of funds; they have tried to control things using interest rates, but the TCBank are frightened to go against the RTE instructions and have been on a foolish policy track for the last year.

Chickens coming home to roost.

Ian
immac is offline send PM Reply With Quote
The Following 3 Users Say Thank You to immac For This Useful Post:
Akasya (11th January 2017), davem (11th January 2017), LauraB (11th January 2017)
Old 11th January 2017, 07:42   #572 (permalink)
Senior Member
 
suzyq's Avatar
 

Thanks: 8,679
Thanked 5,986 Times in 2,559 Posts
suzyq has a reputation beyond repute suzyq has a reputation beyond repute suzyq has a reputation beyond repute suzyq has a reputation beyond repute suzyq has a reputation beyond repute suzyq has a reputation beyond repute suzyq has a reputation beyond repute suzyq has a reputation beyond repute suzyq has a reputation beyond repute suzyq has a reputation beyond repute suzyq has a reputation beyond repute
Re: Watch The Lira Now

Interesting article. I haven't copied and pasted the whole article as it's long.

The Central Bank has responded to the Turkish Lira’s historic plunge by cutting forex required reserves, in a move adding $1.5 billion in liquidity to the financial system, vowing additional steps if necessary.

The statement helped stem some of the lira’s losses, although analysts said more must follow to back the struggling currency.

The lira plunged to record-low levels against both the U.S. dollar and the euro early on Jan. 10, as the greenback continued to rise in global markets and various domestic political and economic concerns put the lira under pressure.

Earlier on Jan. 10, the lira hit a historic low of 3.80 against the dollar and 4.0 against the euro, which is again a first for the currency.

The Turkish currency later eased to 3.75 to the dollar and 3.97 to the euro.

The steep losses in the lira have increased concerns regarding the private sector’s huge forex-based debts, which have recently soared, according to official data.

“Instead of tightening monetary policy directly, the [Central] Bank prefers to tighten TL liquidity conditions and ease FX liquidity conditions, which might be perceived as a smoothening step, but might not reverse the actual course,” said BGC Partners chief economist Özgür Altuğ, as quoted by Reuters on Jan. 10.

The Central Bank, which left rates on hold last month, is expected to come under fresh pressure from financial markets to raise them when it meets on Jan. 24.

The chief economy adviser to Turkish President Recep Tayyip Erdoğan, Cemil Ertem, told Anadolu Agency that there was a campaign underway to depreciate the lira in a rapid manner.

“The forex demand is very shallow, highly speculative and originates from abroad. This is happening when the Turkish parliament has started to debate the constitutional amendment. We have seen a campaign in a bid to depreciate the lira in a rapid manner. This is not a conspiracy theory; but an obvious fact,” he said.

Ertem also said one of the main reasons why the markets were shallow was the inability to do accomplish the required tasks in the capital and money markets, claiming that Turkey was unable to achieve its goals in these fields because of interventions by the Gülen movement and its staffing policies in key economic and financial institutions.

Turkish Central Bank fights to arrest lira?s fall - FINANCE
suzyq is offline send PM Reply With Quote
The Following 5 Users Say Thank You to suzyq For This Useful Post:
Akasya (11th January 2017), davem (11th January 2017), immac (11th January 2017), LauraB (11th January 2017), tintagel (11th January 2017)
Old 11th January 2017, 07:48   #573 (permalink)
Senior Member Has-Been
 
immac's Avatar
 

Thanks: 2,459
Thanked 6,146 Times in 2,193 Posts
immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute
Re: Watch The Lira Now

If that comes from his "chief economy adviser", he is in deep trouble - blame everyone outside the country and try to convince that there are no internal problems. I wonder how that will turn out.

Ian
immac is offline send PM Reply With Quote
The Following 3 Users Say Thank You to immac For This Useful Post:
Akasya (11th January 2017), LauraB (11th January 2017), tintagel (11th January 2017)
Old 11th January 2017, 08:48   #574 (permalink)
Just passing through
 
oldfogy's Avatar
 

Thanks: 1,461
Thanked 3,658 Times in 2,079 Posts
oldfogy has disabled reputation
Re: Watch The Lira Now

Quote:
Originally Posted by villabaris1 View Post
4.69 so far this morning.
yea where's that crystal ball when it's needed
oldfogy is offline send PM Reply With Quote
Old 11th January 2017, 09:05   #575 (permalink)
Senior Member
 
christella's Avatar
 

Thanks: 931
Thanked 1,215 Times in 621 Posts
christella has much to be proud of christella has much to be proud of christella has much to be proud of christella has much to be proud of christella has much to be proud of christella has much to be proud of christella has much to be proud of christella has much to be proud of christella has much to be proud of
Re: Watch The Lira Now

its been a lot higher 4.96
__________________
bowls is like sex you can be no good at it but really enjoy yourself
christella is offline send PM Reply With Quote
Old 11th January 2017, 09:52   #576 (permalink)
Senior Member
 
teosgirl's Avatar
 

Thanks: 5,714
Thanked 12,121 Times in 4,148 Posts
teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute
Re: Watch The Lira Now

Quote:
Originally Posted by immac View Post
There is going to be significant risk to El Presidente. He has worked to make himself top-dog with all the power, but the downside is he takes all the responsibility when things go wrong.
Major economic problems have been the undoing of many leaders, and he must be wondering how to deal with this. They have spent money like drunken sailors trying to prop up the currency and are running out of funds; they have tried to control things using interest rates, but the TCBank are frightened to go against the RTE instructions and have been on a foolish policy track for the last year.

Chickens coming home to roost.

Ian

I actually laughed out loud when I read this.

In the past 6 years the president has blamed various groups, organisations and foreign governments for problems, including (but not limited to)

Journalists
Foreign media outlets
Foreign governments
Gezi park capullers
Shady deep state organisations (first was Ergenekon)
Kurdish sympathisers
The PKK
The YPG
ISIS
Syrian regime
And now Gulenists



There are plenty of people and groups to pass the buck to, and as usual he will. He's already claimed the currency issues are part of a foreign plot.

In fact, it seems he would rather bankrupt his entire nation in an attempt to stay looking in control, than admit internal economical problems and a failed foreign policy. Asking citizens to purchase a slumping currency in favour of a dollar? Might as well have just asked them to burn a few lira.


Still, it won't effect his presidency - there's not much that could stop that train now...except an act of God, which I don't believe in, but hey, I'm willing to be proved wrong!

Charlotte
teosgirl is offline send PM Reply With Quote
The Following 5 Users Say Thank You to teosgirl For This Useful Post:
Akasya (11th January 2017), immac (11th January 2017), LauraB (11th January 2017), Spurs (11th January 2017), tintagel (11th January 2017)
Old 11th January 2017, 09:59   #577 (permalink)
Senior Member Has-Been
 
immac's Avatar
 

Thanks: 2,459
Thanked 6,146 Times in 2,193 Posts
immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute immac has a reputation beyond repute
Re: Watch The Lira Now

Quote:
Originally Posted by teosgirl View Post
I actually laughed out loud when I read this.

In the past 6 years the president has blamed various groups, organisations and foreign governments for problems, including (but not limited to)

There are plenty of people and groups to pass the buck to, and as usual he will. He's already claimed the currency issues are part of a foreign plot.

Still, it won't effect his presidency - there's not much that could stop that train now...except an act of God, which I don't believe in, but hey, I'm willing to be proved wrong!
Agree, but he has not had a presidential system until now: it is different. Still, the people voted him in, and there is nothing about him that was not known before the elections, so they will have to live with the outcome.

Ian
immac is offline send PM Reply With Quote
The Following 3 Users Say Thank You to immac For This Useful Post:
Akasya (11th January 2017), LauraB (11th January 2017), teosgirl (11th January 2017)
Old 11th January 2017, 10:15   #578 (permalink)
Senior Member
 
teosgirl's Avatar
 

Thanks: 5,714
Thanked 12,121 Times in 4,148 Posts
teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute teosgirl has a reputation beyond repute
Re: Watch The Lira Now

Once it goes to a referendum (if he keeps his word and doesn't get enough votes in parliament) that will slide through too.
I don't think the presidency referendum win will be because of fair voting though. Erdogan and his cats seem to have perfected the perfect fraud.


https://www.washingtonpost.com/news/...=.9691885e61c4


https://erikmeyersson.com/2015/11/04...ber-elections/



The truth is, Turkey lost it's democratic status long before these constitutional reforms.
The cause of the downfall of the lira will be because of this, and nothing else.


Charlotte
teosgirl is offline send PM Reply With Quote
The Following 4 Users Say Thank You to teosgirl For This Useful Post:
Akasya (11th January 2017), immac (11th January 2017), LauraB (11th January 2017), tintagel (11th January 2017)
Old 11th January 2017, 12:55   #579 (permalink)
Spurs
 
Spurs's Avatar
 

Thanks: 13,250
Thanked 27,538 Times in 11,231 Posts
Spurs has a reputation beyond repute Spurs has a reputation beyond repute Spurs has a reputation beyond repute Spurs has a reputation beyond repute Spurs has a reputation beyond repute Spurs has a reputation beyond repute Spurs has a reputation beyond repute Spurs has a reputation beyond repute Spurs has a reputation beyond repute Spurs has a reputation beyond repute Spurs has a reputation beyond repute
Re: Watch The Lira Now

Quote:
Originally Posted by teosgirl View Post
I actually laughed out loud when I read this.

In the past 6 years the president has blamed various groups, organisations and foreign governments for problems, including (but not limited to)

Journalists
Foreign media outlets
Foreign governments
Gezi park capullers
Shady deep state organisations (first was Ergenekon)
Kurdish sympathisers
The PKK
The YPG
ISIS
Syrian regime
And now Gulenists



There are plenty of people and groups to pass the buck to, and as usual he will. He's already claimed the currency issues are part of a foreign plot.

In fact, it seems he would rather bankrupt his entire nation in an attempt to stay looking in control, than admit internal economical problems and a failed foreign policy. Asking citizens to purchase a slumping currency in favour of a dollar? Might as well have just asked them to burn a few lira.


Still, it won't effect his presidency - there's not much that could stop that train now...except an act of God, which I don't believe in, but hey, I'm willing to be proved wrong!

Charlotte
Had me sweating there for a second............I thought me or Jaycey would have been on the list.
__________________
Spurs

NO STRANGER TO DANGER
Spurs is offline send PM Reply With Quote
The Following 2 Users Say Thank You to Spurs For This Useful Post:
davem (11th January 2017), tintagel (11th January 2017)
Old 11th January 2017, 14:00   #580 (permalink)
Grey wisdom
 

Thanks: 2,424
Thanked 3,001 Times in 1,375 Posts
IbrahimAbi has a reputation beyond repute IbrahimAbi has a reputation beyond repute IbrahimAbi has a reputation beyond repute IbrahimAbi has a reputation beyond repute IbrahimAbi has a reputation beyond repute IbrahimAbi has a reputation beyond repute IbrahimAbi has a reputation beyond repute IbrahimAbi has a reputation beyond repute IbrahimAbi has a reputation beyond repute IbrahimAbi has a reputation beyond repute IbrahimAbi has a reputation beyond repute
Re: Watch The Lira Now

I really feel sorry for the loyal Turkish citizens who heeded the call to convert their foreign currency to TL and can now see the dollar rising against the TL minute by minute.
__________________
Cannot Save The World, Not Enough Disc Space
IbrahimAbi is online now send PM Reply With Quote
Reply

Tags
lira , watch



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
where is the lira susi Altinkum Forum 16 18th June 2014 16:11
Lira eddiecath Yalikavak Forum 2 19th May 2014 06:18
Low Lira? huggi2010 Banking, Finance and Insurance 3 6th April 2010 08:38
Old Lira cheeky chops Banking, Finance and Insurance 11 5th December 2008 23:53
old lira stevecarol Banking, Finance and Insurance 6 13th October 2008 21:17



All times are GMT +1. The time now is 11:23.
TurkishLiving.com tested by Norton Internet Security TurkishLiving.com tested by McAfee Internet Security
Powered by vBulletin® Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.
Style Provided By: Wrestling Clique - Wrestling Forums
TurkishLiving.com


1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155