USD/TRY - US Dollar Turkish Lira

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Turkish Central bank posted a $25b loss in 2023 due to the KKM account protection,, compared with a profit of around $5b in 2022 that's a $30b worse off situation,, this crazy schemed could not stop the lira dropping from 9 to 32.50, and inflation sits at 68% and the economy is worse off,, and they still have around $70b in the scheme that they need to protect against lira dropping,, I have no idea how these people get paid to come up with ideas like this,, I mean if they have done absolutely nothing that December and just watched the lira melt to 18, or even just raised rates gradually back then, it would have certainly been much better situation than now. It also seems to me that (even with 50% rates) Turkish people do not have trust of their in their own currency, yet they want investors to pour money into the country , which is a totally contradictory stance.

2 1

Dwain Hobbs 7 hours ago

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p.s. there was a genius in this form who thinks that the KKM accounts were totally neutral for the central bank and had no financial costs,, i hope the numbers of today bring him / her to reality.. there is no such thing as free lunch..

0 1

Investing Whore Apr 11, 2024 1:36PM ET

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And this country is going to world bank and imf to borrow money on April 16th, no one is telling you this… IMF will not give a dime, but world bank can… Extremely cheap, until they leave the trade alone…

2 2

San Marina Apr 10, 2024 6:36AM ET

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This was 8 just 3 years ago. Poverty percentage in Turkey increases by 2 every year recently. This is disaster for any nation. Keep buying this and you will get rich.

1 3

Servenkeloc fhvcd Apr 10, 2024 6:36AM ET

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disagree and I don't expect more upside

5 2

aas aas Apr 10, 2024 6:36AM ET

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I live in Turkey and am Turkish and I short TRY with borrowed money. could tell you as much.

0 4

San Marina Apr 10, 2024 6:36AM ET

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aas aas I remember one Turkish person here disagreed with me when it was at 13 or 14 (dont remmber exactly), and I kept saying the same “keep buying”. But good luck

2 3

hen ryu Apr 08, 2024 4:06PM ET

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wow never correction... to 10 lira

0 1

Stefan Beck Apr 08, 2024 4:06PM ET

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of course not, would be funny math if this would happen :-). trading is about knowledge and experience. when alone the rollover swap in 2024 will bring usdtry around 10,0 higher in one year, how can lira end to 10? this would need a strong economy and solved inflation and decades.

0 1

Professional Trader Apr 05, 2024 6:32AM ET

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damn the swaps on this lol. I opened on a demo account of my broke both a buy and sell of 0.01 on March 21. Now April 5 on the Short USD/TRY : Its in loss of 2.16 but positive swap of 12.69!!! On the Buy its profit of 0.27 but negative swap of 23.83! lol I think going short here and collecting swaps is profitable... but damn the interest rate is so high now in turkey it cannot stay like this. Inflation will drop eventually and these swaps not seen again.

0 0

ALZAR Apr 05, 2024 6:32AM ET

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Blindly increasing interest rates won't stop inflation it will increase inflation because this level is too high. Credit card users suffer companies suffer . The cost is past on to the end user. They are basically living on loans the minimum wage hikes are only on paper

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Servenkeloc fhvcd Apr 02, 2024 9:09AM ET

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we are falling sell with SL 32.70 Tp 30.70

5 2

Tarim Engin Apr 02, 2024 7:13AM ET

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This government is manipulating inflation figures so that pensions are lower than the minimum wage, which has catastrophic effects on all prices. Everything you buy today will be more expensive next week

6 3

Dwain Hobbs Apr 01, 2024 9:00AM ET

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Of all the days it decided to go red it chose April’s fools day lol .. you have to get magnifying glasses to find any red candles in the daily / weekly / monthly charts

4 2

Solomon Mar 31, 2024 11:31PM ET

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Is CHP winning good for TRY? Or it has no impact?

3 0

Mc Kr Mar 31, 2024 11:31PM ET

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Interesting question. The Sultan endorsed Simsek in advance of the election so not on that score. Were he to up social spending to win back his wayward voters, that would fuel inflation and likely debt as well. The most important thing, I think, is how he reacts *politically* to the loss.

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Mc Kr Mar 31, 2024 11:31PM ET

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for now, his comments suggest calm assessment of the landscape.

2 0

Tarim Engin Mar 31, 2024 11:31PM ET

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The end of Erdoğan has come! new elections are guaranteed

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Dwain Hobbs Mar 31, 2024 11:31PM ET

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These are local elections so i would presume little impact ,, if high inflation was the reason the AKP lost then one can assume they will want to tackle inflation to win back voters which would be lira positive ,,, anyway it was a risk event out of the way so i guess thats another reason its falling today ,, Turks are very unpredictable people , just like their currency lol

7 0

Mark Ukanela Mar 31, 2024 10:28AM ET

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This will see 40 minimum this year. Keep shorting

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Stefan Beck Mar 31, 2024 10:28AM ET

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with 40 you make zero win , not one cent. you would pay more rollover fee then you win. that fact you know ,or? calculate anything together!!!! there is no free lsuper easy unch gaming, a little bit more complex it is.

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Stefan Beck Mar 31, 2024 10:28AM ET

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sorry, i wrote to fast. correct words: "there is no super easy free lunch trade, it is a little bit more complex ."

0 1

Yaman Bak Mar 31, 2024 10:28AM ET

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Correct with the current spread and swap points its untradeable

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