In other words, they do not believe in Dr. Erdem Basci, the governor of the Central Bank of Turkey, who said “believe in me and win” while estimating year-end USD/TRY rate at 1.92 in a TV interview (for those who wonder, the rate has hanged…
The recent trend of FX deposits does not look pretty at all as well as acts as reminiscent of 2001’s financial crisis in Turkey. The chart above shows the clear picture of both TRY and FX deposits are heading into. As demonstrated above, the terrifying…
Time after time, we saw striking warnings about Turkish economy in reports, published by many huge international institutions. Once for all, Nomura, position Turkey at a more risky place than it does Indonesia and Brazil (in other words BIITS). Since the end of 2009, Nomura…