Turkey On Brink Of Full-Blown Currency Crisis Amid Epic Erdogan Belligerence

Turkey On Brink Of Full-Blown Currency Crisis Amid Epic Erdogan Belligerence

The Turkish lira came into the week besieged. And by that, I mean it's riding the longest losing streak since 1999. I talked briefly about this on Friday afternoon, as it didn't take an FX strategist to suspect it might get worse. Long story short, the central bank decided to eschew another rate hike, opting instead for a corridor tweak, recalling previous manifestations of weak-willed attempts on the part of CBT to arrest currency depreciation without getting arrested. That's a joke, but you
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One thought on “Turkey On Brink Of Full-Blown Currency Crisis Amid Epic Erdogan Belligerence

  1. Poor Turkey. Had so much going for it. When government is bad, it’s really damaging to a country and it’s people.

    This is an example of why the status of the USD as the world’s reserve currency is not going to be challenged soon. Turkish families are hoarding USD. The smart ones, and there are plenty, have likely been moving as many lira into USD as they can these past months…and years. There is a demand for USD internationally that we do not witness, living in the US. When there’s a crisis, everyone wants dollars.

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