{"id":10384,"date":"2018-08-10T15:13:07","date_gmt":"2018-08-10T13:13:07","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=10384\/"},"modified":"2019-03-29T09:39:31","modified_gmt":"2019-03-29T08:39:31","slug":"turkish-lira-continues-to-crash","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/turkish-lira-continues-to-crash\/","title":{"rendered":"Turkish Lira Continues To Crash"},"content":{"rendered":"

\"\"<\/p>\n

10\/08\/2018 \u2013 15:00: The collapse of the Turkish lira is going to continue. Only today, Friday, the Lira lost up to 12% in value against the U.S. dollar.<\/p>\n

For the current year 2018, the loss in value amounts to 35%. These turbulences are also spreading to the interest rate market. 10-year bonds are now yielding 20%!
\nThe market is increasingly losing faith in the promises made by President Erdogan and his Finance Minister Albayrak, who is also his son-in-law, to boost the economy and “implement a new economic model”. In addition, the ECB is concerned about the exposure of European banks in the Turkish currency. The worries are not entirely unfounded. As reported in the Financial Times, UniCredit (Italy), BNP Paribas (France) and BBVA (Spain) are “significantly exposed” in Turkey. Whether President Erdogan’s appeal helps the lira may be doubted. He suggests “take dollars, euros and gold out of his pillow and bring them to the bank!”<\/p>\n

Important notes on this publication:<\/strong><\/p>\n

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

10\/08\/2018 \u2013 15:00: The collapse of the Turkish lira is going to continue. Only today, Friday, the Lira lost up to 12% in value against the U.S. dollar. For the…<\/p>\n","protected":false},"author":37,"featured_media":7773,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-10384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nTurkish Lira Continues To Crash | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Die Bernstein Bank GmbH ist eine deutsche Privatbank. Als einziger deutscher Bafin regulierter CFD Broker mit einer MT4-Lizenz bietet sie den Online-Handel in W\u00e4hrungen, Aktien, Rohstoffen und Krypto-W\u00e4hrungen an.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bernstein-bank.com\/en\/turkish-lira-continues-to-crash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Turkish Lira Continues To Crash | Bernstein Bank\" \/>\n<meta property=\"og:description\" content=\"Die Bernstein Bank GmbH ist eine deutsche Privatbank. 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