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by Guest Mon Aug 13, 2018 9:11 amTurkey’s lira slumped for a fourth day to a new record low, with the sell-off spreading to other emerging-market currencies, after the country’s president showed no signs of backing down in a standoff with the U.S.
The lira tumbled as much as 11 percent against the dollar in thin trading in Asia, before trimming losses as the central bank moved to boost lenders’ access to lira and foreign exchange liquidity. Earlier, the Banking Regulation and Supervision Agency stepped in to limit swap transactions on the battered currency.
“Turkey’s friction with the U.S. is weighing on the lira, and is unlikely to improve anytime soon,” said Takashi Kudo, head of financial markets research at Fujitomi Co. in Tokyo. “Concerns are also growing about European financial institutions due to their exposure to Turkey. All in all, emerging-market currencies are under weakening bias from all those problems.”
The central bank measures will add about 10 billion liras ($1.5 billion), $6 billion, and $3 billion equivalent of gold liquidity to the financial system, the central bank said in a statement posted on its website.
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In speeches Sunday, Erdogan remained defiant, vowing never to give in on interest-rate hikes while saying the country is in an “economic war.” He also ruled out an agreement with the International Monetary Fund.
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Turkey’s central bank -- which has raised its main policy rate to 17.75 percent -- unexpectedly refrained from a further hike at its last meeting.
While investors are pleading for dramatic central bank action to bolster the lira, Turkish officials fear that even a huge increase in borrowing costs could be quickly offset by another round of U.S. sanctions, according to two people familiar with the thinking of the country’s economic administration.
Tursko leto - strukture saraja
- Guest
- Guest
Capital controls already in place de facto in #Turkey: "We couldn’t get any foreign currency out yesterday: we wanted to take out $50,000 but they directly said ’no,’. We couldn’t carry out an EFT either." https://t.co/xzym4oYG0e /via @markets
— Yannis Koutsomitis (@YanniKouts) August 13, 2018
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Sve ce to policija srediti.
The Ministry of Interior announced Monday that appropriate legal action is being taken against social media users threatening Turkey's economic security by sharing provocative content about the exchange rate from U.S. dollar to lira.
The ministry said it had identified 346 social media accounts since Aug. 7 and legal action has been launched against them.
Istanbul Chief Public Prosecutor's Office said earlier Monday that it has launched an investigation into all types of news media, publications and social media accounts used for operational purposes by individuals and groups threatening economic security.
https://www.dailysabah.com/finance/2018/08/13/turkey-launches-probes-into-attacks-on-economic-security
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"Ne morate krenuti odavde da biste dosli tamo. Moguce je krenuti odavde i vratiti se ponovo tu, ali preko onoga tamo."
Aca Seltik, Sabrana razmisljanja o topologiji, tom cetvrti.
My Moon Che Gavara.
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Location : wife privilege
Дакле уведеш де факто диктатуру, спиздиш опозицију, јебеш матер коме стигнеш и ни длака с главе ти не фали. Поџавељаш се мало са Америма и оде све у курац. Како каже Трамп, "прво Америку!".
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cousin for roasting the rakija
И кажем себи у сну, еј бре коњу па ти ни немаш озвучење, имаш оне две кутијице око монитора, видећеш кад се пробудиш...
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Rekao bih da Erdogan ovo namerno gura i da je prabacio na nivo religije gde misli da ne moze da izgubi, stavise, cak i pored fluktacija valute, gde je vec dobrano oznacio SAD kao krivce...
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Vreme mu je da počne da kači S-400 na naslovnice
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Erdogan najavljuje nove vojne operacije u Siriji:
https://www.reuters.com/article/us-mideast-crisis-syria-erdogan/turkeys-erdogan-says-finalised-preparations-to-make-more-safe-zones-in-syria-idUSKBN1KX0KQ
Moguce je da nema veze sa ovom krizom, vec da je u pitanju trgovina sa Rusima: Rusi puste Turke da zauzmu ostatak kantona Efrin, Turci puste SAA da zauzme podrucje odakle krecu napadi dronovima na Hmejm. Posto se SAA upravo sprema za pocetak ofanzive, logicno je da to rade i Turci.
https://www.reuters.com/article/us-mideast-crisis-syria-erdogan/turkeys-erdogan-says-finalised-preparations-to-make-more-safe-zones-in-syria-idUSKBN1KX0KQ
Moguce je da nema veze sa ovom krizom, vec da je u pitanju trgovina sa Rusima: Rusi puste Turke da zauzmu ostatak kantona Efrin, Turci puste SAA da zauzme podrucje odakle krecu napadi dronovima na Hmejm. Posto se SAA upravo sprema za pocetak ofanzive, logicno je da to rade i Turci.
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"Ne morate krenuti odavde da biste dosli tamo. Moguce je krenuti odavde i vratiti se ponovo tu, ali preko onoga tamo."
Aca Seltik, Sabrana razmisljanja o topologiji, tom cetvrti.
My Moon Che Gavara.
- Guest
Erdogan announced Turkey was preparing to conduct trade through national currencies with China, Russia and Ukraine as ties with the U.S. continue to crumble
The Kremlin said on Monday that Russia favored bilateral trade with all countries in their national currencies, rather than the dollar, but that the idea needed detailed work before being implemented.
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Asked about Erdogan's proposal, Kremlin spokesman Dmitry Peskov said Russia had been pushing for such an arrangement with all countries. He said the issue had been raised on more than one occasion during bilateral talks between Turkey and Russia.
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https://www.haaretz.com/amp/world-news/europe/kremlin-wants-to-dump-the-dollar-and-trade-in-national-currencies-1.6367704?__twitter_impression=true
The Kremlin said on Monday that Russia favored bilateral trade with all countries in their national currencies, rather than the dollar, but that the idea needed detailed work before being implemented.
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Asked about Erdogan's proposal, Kremlin spokesman Dmitry Peskov said Russia had been pushing for such an arrangement with all countries. He said the issue had been raised on more than one occasion during bilateral talks between Turkey and Russia.
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https://www.haaretz.com/amp/world-news/europe/kremlin-wants-to-dump-the-dollar-and-trade-in-national-currencies-1.6367704?__twitter_impression=true
- Guest
President Donald Trump’s top national security aide warned Turkey’s ambassador on Monday that the U.S. has nothing further to negotiate until a detained American pastor is freed, according to two people familiar with the matter, signaling a standoff between the countries will continue as Turkey’s financial meltdown spreads to emerging markets.
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Lepo sam napisao, Erdogan moze odmha da poboljsa odnose ali on nece za sada to da uradi.
Ocigledno drzi tog protestanskog misionara kao pokusaj razmene za Gulena a to sve vise lici na na neki verski obracun cime Erdgogan ne gubi i pored soka sa valutom.
Ocigledno drzi tog protestanskog misionara kao pokusaj razmene za Gulena a to sve vise lici na na neki verski obracun cime Erdgogan ne gubi i pored soka sa valutom.
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kao pokusaj razmene za Gulena
nadam se da nije toliko glup
- Guest
ma kakva razmena za Gulena, naravno da zna da je to nemoguce.
uhapsio je ovog pastora i sad ne moze da popusti a da ne izgubi obraz pred svojim pristalicama.
uhapsio je ovog pastora i sad ne moze da popusti a da ne izgubi obraz pred svojim pristalicama.
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Zasto ga je onda uhapsio?
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LIVE — President Erdoğan: Turkey will boycott US electronic products pic.twitter.com/6BWGPk5ZkG
— DAILY SABAH (@DailySabah) August 14, 2018
- Guest
Zuper wrote:Zasto ga je onda uhapsio?
Pogrešna procena. U Americi je sada takvo stanje stvari da hapšenje jednog pastora može da posluži kao okidač za trgovinski rat. Nije uvek bilo tako i potrebno je vreme za adaptaciju na novu diplomatsku klimu.
Naravno sve ovo ima širi bekgraund ali mi ovaj detalj izgleda zaista kao pogrešna procena.
- Guest
Gargantua wrote:LIVE — President Erdoğan: Turkey will boycott US electronic products pic.twitter.com/6BWGPk5ZkG
— DAILY SABAH (@DailySabah) August 14, 2018
e tako treba, samo đonom. bože mentola.
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Zuper wrote:Zasto ga je onda uhapsio?
Zato što to treba hapsiti bez milosti!
Gargantua wrote:LIVE — President Erdoğan: Turkey will boycott US electronic products pic.twitter.com/6BWGPk5ZkG
— DAILY SABAH (@DailySabah) August 14, 2018
Takoeeeeee!
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Creepy Uncle wrote:Zuper wrote:Zasto ga je onda uhapsio?
Pogrešna procena. U Americi je sada takvo stanje stvari da hapšenje jednog pastora može da posluži kao okidač za trgovinski rat. Nije uvek bilo tako i potrebno je vreme za adaptaciju na novu diplomatsku klimu.
Naravno sve ovo ima širi bekgraund ali mi ovaj detalj izgleda zaista kao pogrešna procena.
Losa procena oko cega?
A kao sto vidite Erdogan je taj koji stalno podize pritisak.
Bice zanimljivo videti reakciju Amera. Kinezi su vec dobrim delom razbucali taj njihov narativ da idu okolo i prete pa onda da se svi uplase cim malo krene da fluktira berza/valute. Videcemo da li blefiraju sa Turcima ili ce ici dalje.
- Guest
Jao kao da ne znamo i ti i ja da će se ovo završiti samitom Tramp-Erdogan i time što će Tramp reći he is a great guy, magnificent, i da će naložiti da se u Vašingtonu podigne Topkapi palata, samo još veća nego u Istanbulu.
Erős Pista
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Hahaha, upravo. Sve vreme mislim o tome.
Two brothers from another mother.
Mislim da je sad cela igra u tome da obojica smisle nacin da se iz ovoga izvuku a da ne ispadnu slabici, Erdogan pre svega. Ce da neke dilove Trampari, ce otvore neke hotele u Istanbulu sta vec, ce se slikaju zajedno - "Car si, burazeru", "Ma ti si car burazeru", i to ce biti to.
Two brothers from another mother.
Mislim da je sad cela igra u tome da obojica smisle nacin da se iz ovoga izvuku a da ne ispadnu slabici, Erdogan pre svega. Ce da neke dilove Trampari, ce otvore neke hotele u Istanbulu sta vec, ce se slikaju zajedno - "Car si, burazeru", "Ma ti si car burazeru", i to ce biti to.
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"Oni kroz mene gledaju u vas! Oni kroz njega gledaju u vas! Oni kroz vas gledaju u mene... i u sve nas."
Dragoslav Bokan, Novi putevi oftalmologije
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CAVUSOGLU: TURKEY WON'T PARTICIPATE IN SANCTIONS AGAINST IRAN
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što volim kad Zero Hedge napravi breaking news od nečega što je Čavušolu rekao već pedeset puta.
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ANKARA-RUSSIA'S LAVROV SAYS U.S. USE OF SANCTIONS WILL UNDERMINE ROLE OF DOLLAR AS SETTLEMENT CURRENCY OVER TIME
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Turkish court rejected US pastor #AndrewBrunson's appeal to be released from house arrest. An upper court yet to rule on the appeal. Brunson's case has been the cause of the latest rift between US-Turkey and sent #lira into free-fall
— Selin Girit (@selingirit) 15. август 2018.
#Turkey imposes additional tariffs on US imports ranging from 10 to 120 % in retaliation to US sanctions. The measure covers vehicles, tobacco products, rice, alcoholic beverages, coal, beauty products, paper etc. pic.twitter.com/G5dT4DNckN
— Abdullah Bozkurt (@abdbozkurt) 15. август 2018.
The lira’s recovery comes as Turkey’s financial regulators impose new restrictions on the country’s banks.
These rules make it harder for banks to buy and sell foreign exchange derivatives with overseas banks.
That will prevent some investors from betting against the lira.
Reuters has the details:
Turkish banking watchdog BDDK on Wednesday said it is cutting the limit for Turkish banks’ forex swap, spot and forward transactions with foreign banks to 25 percent of a bank’s equity.
The BDDK had said on Sunday that the limit would be 50 percent of the bank’s equity.
In a statement, the BDDK said the rate will be calculated daily and new transactions will not be performed or renewed until the current excess of the amount is realised at a quarter of a bank’s capital.