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Author Topic: Turkish currency falls, Stock Markets down, Growth Slowing, Debt costs up.  (Read 3701 times)
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« on: August 23, 2013, 02:03:22 AM »

Turkish currency falls, Stock Markets down, Growth Slowing, Debt costs up.

The Turkish currency, Lira, fell down to the Lowest ever level since 1981, after having already lost more than - 10% since the beginning of this year, droping to the worst level in the last 3 Decades..

Central Turkish Bank has already spend more than 7,5 Billions $ since June into trying to alleviate Lira's fall, and is ready to sell another 350 Millions $ immediately.

Istanbul's Stock Market also fell down - 2% today, aggravating a previous fall of - 3,46% on Wednesday, totalling an overall Fall of more than - 8% since the beginning of this week.

The Fall of GDP Growth droped from some 8% in 2011 to less than just 3% expected for 2013

In a more Expensive Government Debt market, Turkey's ten year Borrowing rate surged Today for + 44 points Higher, after Turkish Bond Yield rose by more than + 50 % during the last three months.

According to many Analysts, Capital flows are due to be restricted and inversed, adding to Turkey's well known Weaknesses (such as a Current Account's Deficit, and External Credit dependance, etc), so that the next years are due to be "Bumpy".

But Ankara's authorities reportedly denied that a "Crisis" might be looming soon.

* Erdogy broke.....png (230.34 KB, 504x295 - viewed 628 times.)
« Last Edit: August 23, 2013, 12:11:49 PM by JohnsonE » Logged
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