Trouble with Greece: The Turkish Lira is worth so little as never before

the New like the negative record for the Turkish Lira: In the past few days, the price of the currency to a Low of 0,1259 Euro. A Euro was in the top 7,9406 Lir

Trouble with Greece: The Turkish Lira is worth so little as never before

the New like the negative record for the Turkish Lira: In the past few days, the price of the currency to a Low of 0,1259 Euro. A Euro was in the top 7,9406 Lira value. So cheap is the currency of Turkey was never, not even during the currency and inflation crisis in the year 2018. At that time, the Euro exchange rate rose only to just over 7.5 Lira. Most recently, the Euro was still 7,9368 Lira value. Euro / Turkish Lira (EUR/TRY) 7,9358 TRY +0,0232 (+0,29%) OTC

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the dispute between Turkey and Greece

a Decisive factor for the recent price fall, the conflict with the neighboring country Greece was as, among other things, the Reuters news Agency reported. Specifically, it hurt was the last planned test drilling by Turkish vessels in the Eastern Mediterranean in the view of Greece, whose territorial rights. The trouble between the countries is not going to Happen just because of the massive and so far little-used raw materials in the Mediterranean sea explosive, but also because both countries belong to the defensive Alliance Nato.

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Lira is massively> by banks and supervisors supported

Among the items, many short sales, the so-called "shorts", which against a currency is a bet are. To counteract the Lira decline. According to Ghose, the banks have with the Central Bank, CBT, and the supervisors agreed. "But this should be a regular tool for monetary intervention, it would be the Lira in the face of the systematic weakening of Bank balance sheets – ultimately to the detriment", warns Ghose.

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Updated Date: 23 July 2020, 12:27

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