Turkish lira slide triggers fresh central bank intervention

[Apollon]

Is there any other nation in the world that loves raki as much as the Greeks? Of course, a lot of Greeks come here often, there are also many Greeks living here. In fact, the Greeks are reshaping even Turkish football history right now. lol. Trabzonspor is running for the championship with General Bakasetas and Siopis. The prayers of the venerable ArchBishop Bartholomeos are also with us. Our love will grow even more if Oly gives us Mosouras.

I see. I was in Istanbul through a EU school project 2 years ago. Our guide was great but told us to not say we are Greeks. So it felt bit weird.

 

[dBSPL]

I see. I was in Istanbul through a EU school project 2 years ago. Our guide was great but told us to not say we are Greeks. So it felt bit weird.

It's really weird because if you say you're Greek in the east Black Sea or the Aegean areas, people will show you more welcoming than any other german or brit. You know there is Ayvalık across the island of Lesbos. Almost all of the Greeks in the region come to Turkey for the day and do their shopping here. Have you ever had a Greek friend who has experienced something negative?

 

[Apollon]

It's really weird because if you say you're Greek in the east Black Sea or the Aegean areas, people will show you more welcoming than any other german or brit. You know there is Ayvalık across the island of Lesbos. Almost all of the Greeks in the region come to Turkey for the day and do their shopping here. Have you ever had a Greek friend who has experienced something negative?

I think its politics. I was treated ok. My classmates too.

 

[dBSPL]

I think its politics. I was treated ok. My classmates too.

There is bigotry and a fanatically politicized segment in both countries, and we cannot deny it. But I hope our young people will completely destroy this bigotry.

 

[Foinikas]

Trabzonspor is running for the championship with General Bakasetas and Siopis.

Trabzonspor is playing for the championship? What happened to Fenerbahçe and Galatasaray? Where is Besiktas?

 

[dBSPL]

Trabzonspor is playing for the championship? What happened to Fenerbahçe and Galatasaray? Where is Besiktas?

All three are where they belong. middle ranks.

 

[thetutle]

I don't understand the financial issues Turkey is facing.

President wants to keep interest rates low, this is causing the lira to drop. Ok I understand this. Its inflationary. I'm in australia and we are also facing massive inflation. mainly in housing where the median house costs 1.3 million USD in the biggest city. And ordinary workers can never ever buy a house unless they are earning massive massive money.

But Turkey is having ordinary food items become unaffordable. This I don't understand. If an office worker can't pay his food bills, would that not result in the economy shifting away from office work and end up with everyone investing everything they have in food production.

If producing bread or tomatoes or meat will buy me so much labour form ordinary workers would that not mean farmers in turkey would become incredibly powerful and rich? and this attracting more people to become farmers?

If food imports and manufactured goods imports become fo obscenely expensive for the average Turkish worker, wold this not stimulate the local industry to produce these goods themselves?

Would not the current crisis make Turkish goods much more desirable and competitive for export? Would think not create more jobs?

If you rise the interest rates, you will just stop all investment into anything productive? wont it make investing more expensive and reduce investment?

 

[dBSPL]

The ratio of agricultural exports to imports
Turkiye 136%
USA 88%
Germany 78%
Portugal 69%
China 46%
UK 44%




News from February 2021:

Türkiye'nin tarım, gıda ve içecekte ithalat ve ihracat birim fiyatı arttı

Türkiye, geçen yıl tarım, gıda ve içecekte 20,7 milyar dolarlık ihracata, 16,1 milyar dolar da ithalata imza attı. Aynı dönemde Türkiye'nin tarım, gıda ve içecekte, 2019'a göre ihracat birim değeri ton başına yüzde 3,7 artışla 1.019 dolara, ithalat birim değeri ise yüzde 5,7'lik bir artışla 498...

www.dunya.com

Turkey's agricultural, food and beverage import and export unit prices increased. Last year, Turkey signed exports of 20.7 billion dollars and imports of 16.1 billion dollars in agriculture, food and beverages. In the same period, Turkey's export unit value in agriculture, food and beverage increased by 3.7 percent to $1,019 per ton compared to 2019, and the unit value of imports reached $498 with an increase of 5.7 percent.

*

Turkey is among the world's major exporters of ready-to-eat foods and especially processed foods such as pasta. Although Turkey is one of the most important flour producers in the world, the main reason why it is one of the world's largest flour importers is related to the fact that the capacity of the food industry produces much more than Turkey's annual internal-market needs.

 

[IblinI]

the TRY-USD pair is trading around 15.5.

It broke 16 today, isn't it?

 

[SOHEIL]

It broke 16 today, isn't it?

16.07

 

[Skull and Bones]

Has the property prices crashed yet?

 

[BON PLAN]

2021 economy Nobel prize to Erdogan !

In Turkey, bread lines grow longer as inflation soars

 

[dani191]

i wonder what is the turkish economy problem why they need so high intreste rate

 

[QWECXZ]

It broke 16 today, isn't it?

Right now it's 16.74

Soon it will pass 17. And Erdogan continues to insist on his wrong economic policies.
Turkish economists are giving him sound advice, but he doesn't listen to them.
He has already changed several heads of the central bank.
I read that he is even making the situation worse by increasing salaries by 50% in the next year.
I don't know if that's true or false, but increasing salaries by 50% will make inflation worse.
And of course it will not resolve the currency devaluation crisis.

 

[Indos]

I don't understand the financial issues Turkey is facing.

President wants to keep interest rates low, this is causing the lira to drop. Ok I understand this. Its inflationary. I'm in australia and we are also facing massive inflation. mainly in housing where the median house costs 1.3 million USD in the biggest city. And ordinary workers can never ever buy a house unless they are earning massive massive money.

But Turkey is having ordinary food items become unaffordable. This I don't understand. If an office worker can't pay his food bills, would that not result in the economy shifting away from office work and end up with everyone investing everything they have in food production.

If producing bread or tomatoes or meat will buy me so much labour form ordinary workers would that not mean farmers in turkey would become incredibly powerful and rich? and this attracting more people to become farmers?

If food imports and manufactured goods imports become fo obscenely expensive for the average Turkish worker, wold this not stimulate the local industry to produce these goods themselves?

Would not the current crisis make Turkish goods much more desirable and competitive for export? Would think not create more jobs?

If you rise the interest rates, you will just stop all investment into anything productive? wont it make investing more expensive and reduce investment?

How much Australia inflation then compare it to Turkey

Do you ever think company who has debt in USD ? Usually they are big manufacturing companies, then think if they cannot pay their debt in USD means some of Turkey manufacturing will collapse too. You cannot see economy on one side only.

Turkey inflation is high, it needs to be reduced, but there is hard pill that Turkey needs to swallow to stabilize the monetary side like increasing the interest rate in order to have positive real interest rate ( interest-inflation ) in order to stabilize the Lira. If not then Lira will come to free fall just like what we are witnessing.

Everything excessive is not good, you need to study the fall of Rupiah during Asian Financial Crisis to understand that and what measure Indonesian economist do to cope with that, one of them is very high interest rate to stabilize Rupiah and avoid it to fall even further