TRY

News

Turkey rolled out FX deposit guarantees after crossing the 'red line' at USD/TRY 18.00

Turkey rolled out FX deposit guarantees after crossing the 'red line' at USD/TRY 18.00

  • Turkey decided USD/TRY at 18.00 was a 'red line'
Adam Button
Adam Button
Wednesday, 22/12/2021 | 14:02 GMT-0
22/12/2021 | 14:02 GMT-0
News

Turkey's Erdogan says he will not let Turks be crushed under interest rates, inflation

Turkey's Erdogan says he will not let Turks be crushed under interest rates, inflation

  • Turkey's Erdogan on the wires again, with familiar rhetoric
Ryan Paisey
Ryan Paisey
Wednesday, 22/12/2021 | 09:18 GMT-0
22/12/2021 | 09:18 GMT-0
News

The Turkish Finance Ministry has announced *cough* "guaranteed" savings bonds

The Turkish Finance Ministry has announced *cough* "guaranteed" savings bonds

  • This boils down to 'guaranteed saving bonds' - Though how "guaranteed" they are is anyone guess. It's certainly not the bazooka that is needed to fix the Turkish monetary woes
Ryan Paisey
Ryan Paisey
Tuesday, 21/12/2021 | 11:34 GMT-0
21/12/2021 | 11:34 GMT-0
News

Turkish Finance Minister will provide details of economic measures at 11:00GMT/06:00EST today.

Turkish Finance Minister will provide details of economic measures at 11:00GMT/06:00EST today.

  • Details remain light, but we are told banks "will commence the implementation of transactions of new instruments on Tuesday" - Lira has been weakening in morning trade.
Ryan Paisey
Ryan Paisey
Tuesday, 21/12/2021 | 09:17 GMT-0
21/12/2021 | 09:17 GMT-0
News

Turkish lira goes gang-busters after Erdogan's anti-dollarization plan and $1bln USD sold

Turkish lira goes gang-busters after Erdogan's anti-dollarization plan and $1bln USD sold

  • Turkey's lira goes into 'beast mode', strengthening 9% vs USD this morning, following a historic 25% recovery from record lows, after President Tayyip Erdogan unveiled a plan he said would guarantee local currency deposits against market fluctuations.
Ryan Paisey
Ryan Paisey
Tuesday, 21/12/2021 | 06:28 GMT-0
21/12/2021 | 06:28 GMT-0