Obbligazioni valute high yield TURCHIA bond in usd e lira turca (8 lettori)

m.m.f

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Turkey keeps lira in check with low-key interventions-sources 28/01/2022 14:33 - RSF
* FX reserve sales continue but smaller -banker calculations
* Central bank sold $600 mln to $1 bln last week -bankers
* How long it lasts to depend on C/A balance
* Steps calmed lira crisis last month; inflation soared

By Nevzat Devranoglu and Jonathan Spicer
ANKARA, Jan 28 (Reuters) - Turkey's central bank has scaled back its currency interventions in January but still spent as much as $1 billion last week to keep the lira steady after last month's extreme volatility, according to the calculations of bankers and economists.

Data shows the bank sold nearly $20 billion in foreign reserves in December to underpin the currency as it whip-sawed from 18.4 to 10.25 against the dollar, rattling the major emerging market economy and sending inflation soaring.

This month, the lira has settled into a tight range https://tmsnrt.rs/3ACssz0
around 13.5 that several bankers described as a managed exchange rate or "dirty float", after the government took several steps Factbox: Turkey's steps to calm lira crisis, bolster FX reserves
to boost public confidence and official reserves.

Among the measures are central bank purchases of 25% of exporters' hard currency revenues and entire payments from foreigners into a citizenship-for-homes programme, as well as hard currency transfers into a new deposit-protection scheme.

(news)

Four bankers told Reuters the measures have beefed up central bank currency reserves, even as data suggested the bank continued to sell dollars, albeit at a smaller scale than in December when they were easier track.

The central bank's reserves were $600 million to $1 billion short of what would have been expected after last week's dollar-buying, according to three bankers' calculations of leading indicators and official data.

That suggests the dollar-selling interventions totalled $600 million to $1 billion, they said, citing central bank balance sheet and reserves data, as well as lenders' official deposits.

"The central bank not only buys some foreign currency that comes to the market but also its reserves sales are continuous, (resulting in) a forex regime directed by the state," said a senior banker who requested anonymity.

The central bank has not formally announced a market intervention since mid-December. It declined to comment on any recent interventions and the bankers' calculations.

Bank Governor Sahap Kavcioglu on Thursday downplayed claims of reserve sales and repeated no interventions took place on Dec. 20 when the lira mounted its all-time biggest daily rally.

He told a news conference that a drop in net foreign reserves to $7.55 billion in mid-January, a 20 year low, was due to market volatility and demand from state institutions.

(news)
(news)

Finance Minister Nureddin Nebati has said state entities have a duty to intervene to stabilize the currency as needed.


CAN IT LAST?
Despite last year's costly interventions, the lira shed 44% of its value in 2021 due largely to unorthodox interest rate cuts urged by President Tayyip Erdogan whose sweeping new economic programme focuses on exports, credit and investment.

As a result, inflation hit a 19-year high of 36% last month and is expected to approach 50% this winter, sharply eroding Turks' earnings and savings. (news)

Turkey's ability to keep intervening in currency markets depend on its ability to bring in hard currencies via exports, tourism, swaps and other means, economists and bankers say.

The main opposition party has criticised the mandate for exporters to sell 25% of FX revenues to the central bank as wasteful, and some companies said it strained finances.

(news)

Authorities have not revealed how much the bank has purchased from exporters nor from foreign home-buyers under the new measures adopted this month, leaving it to the bankers to estimate their volumes, and consequently the scale of market interventions.

As Erdogan praised the currency stability this month and promised to address the "inflation bubble," Kavcioglu said the central bank has made lira a top priority.

Marek Drimal at Societe Generale said, however, focusing monetary policy on the currency "may prove very challenging", given expected further rise in inflation and seasonal current account swings are likely to keep the lira volatile.

He said, for now "intervention is likely to be on the table" to stop lira sliding beyond 14 to the dollar.

In 2019-2020 a raft of market interventions, conducted via state banks to support the lira, wiped out $128 billion of central bank reserves and emerged as a focus of what opposition parties called government mismanagement.

The lira has plunged 72% versus the dollar in the last four years.



<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ FACTBOX-Turkey's steps to calm lira crisis, bolster FX reserves
(news)
Turkish central bank doubles 2022 inflation forecast to 23% (news)
ANALYSIS-Erdogan delights Turkish depositors with lira let-up in possible election gambit (news)
Turkish lira steadies after crisis https://tmsnrt.rs/3ACssz0
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Editing by Tomasz Janowski)
(([email protected]; Reuters Messaging: [email protected] @jonathanspicer))
...nulla di nuovo andrà a 20 la TRy contro quest'anno.
 

Fabrib

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Turkey replaced the head of the country’s statistics agency within less then a year as the institution has been caught up in political debates over the reliability of key economic data. (BBG)

Venezuela style.
 

2K2

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...nulla di nuovo andrà a 20 la TRy contro quest'anno.
Vedo che nn sai neanche leggere quel che commenti !
Te lo traduco io un brano saliente dall'art. più sopra postato da pietroelettra :

"Poiché Erdogan ha elogiato la stabilità della valuta questo mese e ha promesso di affrontare la "bolla dell'inflazione", Kavcioglu ha affermato che la banca centrale ha dato la lira una priorità assoluta.

Marek Drimal della Société Générale, tuttavia, ha affermato che concentrare la politica monetaria sulla valuta "potrebbe rivelarsi molto impegnativo", dato che è probabile che un ulteriore aumento previsto dell'inflazione e le oscillazioni stagionali delle partite correnti manterranno la lira volatile.

Ha detto, per ora "è probabile che ci sia un intervento sul tavolo" per impedire alla lira di scivolare oltre 14 per dollaro."
 

NoToc

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(omissis)

Indici settoriali misti

Gli indici di fiducia settoriale della Turchia hanno registrato risultati contrastanti questo mese, secondo i dati pubblicati dall'Istituto di statistica turco (TÜİK) pubblicati ieri.
Gli indici di fiducia destagionalizzati per i servizi e il commercio al dettaglio sono aumentati rispettivamente dell'1,2% e del 2,5%, ma sono diminuiti del 5% a gennaio per il settore delle costruzioni su base mensile.

L'indice per i servizi è salito a 120,2 a gennaio, rispetto a 118,8 a dicembre, ha detto TÜİK.
Anche nel settore dei servizi, la situazione delle imprese e gli indici domanda-fatturato hanno registrato aumenti mensili.
L'indice di fiducia del commercio al dettaglio si è attestato a 124,4 a gennaio, in rialzo da 121,5.
L'attività commerciale e le vendite e l'attuale volume di sottoindici azionari hanno registrato aumenti nel mese.
L'indice del settore delle costruzioni si è registrato a 85,5 questo mese, in calo rispetto ai 90 del mese precedente.
Il sottoindice degli attuali portafogli ordini complessivi è aumentato, mentre le aspettative di occupazione totale sono diminuite.
Gli indici di fiducia settoriale calcolati sulla base dei risultati mensili dell'indagine sono valutati nell'intervallo 0-200. Questi indici indicano una prospettiva ottimistica quando sopra 100 e una pessimistica sotto.
TÜİK pubblicherà i dati dell'indice di fiducia economica il 28 gennaio.

Lo stesso giorno, saranno rivelate anche le entrate cruciali del settore turistico turco per lo scorso anno.
La Turchia mira a generare 35 miliardi di dollari di entrate turistiche nel 2022, ha detto il ministro della Cultura e del Turismo Mehmet Nuri Ersoy il 13 gennaio. "L'anno scorso, 29 milioni di turisti hanno visitato il paese e le entrate ammontavano a $ 24 miliardi", ha detto.

fonte: Hurriyetdailynews
 

m.m.f

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m.m.f

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Turkey Asks People to Ditch Dollars for Lira Savings Ugur Yilmaz 04:43 PM IST, 30 Jan 2022 10:22 PM IST, 30 Jan 2022

(Bloomberg) -- The Turkish government is pushing its lira-rescue plan to a new level: an advertising campaign to convince people to convert their savings to the local currency. A video broadcast on national television and social media on Sunday praises citizens’ hard work and asks them to invest their savings into Turkish lira time deposits that offer protection from currency depreciation. The Lira
has fallen against the U.S. dollar in recent years, plummeting to unprecedented levels toward the end of 2021. President Recep Tayyip Erdogan introduced a set of measures on Dec. 20 to halt the collapse, and the currency has been relatively stable this month. The central bank has also placed the lira at the center of its policy and promised the protect it.

...ogni giorno se ne inventa una..
 

m.m.f

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Turchia: crisi economica porta il gradimento di Erdogan al minimo dal 2015
Ankara, 13 gen 17:45 - (Agenzia Nova)- La crisi economica che sta attraversando la Turchia e le ricette “non ortodosse” adottate dal governo stanno pesando sulla popolarità del presidente turco, Recep Tayyip Erdogan, e del partito di governo Akp (Adalet ve Kalkinma Partisi, Partito giustizia e sviluppo) alla ricerca di una riconferma alle elezioni parlamentari e presidenziali del giugno 2023. Diversi sondaggi indicano un calo della popolarità di Erdogan e dell’Akp che guidano da 19 anni la Turchia a livello più basso dal 2015. Un sondaggio dell’agenzia Metropoll Research mostra che il tasso di approvazione per Erdogan è attualmente al 38,6 per cento dietro quella di potenziali rivali, in particolare i sindaci di Ankara e Istanbul, Mansur Yavas e Ekrem Imamoglu, rispettivamente con il 60 e il 51 per cento del gradimento, ed entrambi esponenti dell’Alleanza nazionale, la coalizione di opposizione formata dal Partito popolare repubblicano (Chp) e dal Partito buono. (segue) (Res)
© Agenzia Nova - Riproduzione riservata
 

pietro17elettra

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RPT-Turkey keeps lira in check with low-key interventions-sources 31/01/2022 06:00 - RSF
(Repeats Jan. 28 item with no changes to text)
* FX reserve sales continue but smaller -banker calculations
* Central bank sold $600 mln to $1 bln last week -bankers
* How long it lasts to depend on C/A balance
* Steps calmed lira crisis last month; inflation soared

By Nevzat Devranoglu and Jonathan Spicer
ANKARA, Jan 28 (Reuters) - Turkey's central bank has scaled back its currency interventions in January but still spent as much as $1 billion last week to keep the lira steady after last month's extreme volatility, according to the calculations of bankers and economists.

Data shows the bank sold nearly $20 billion in foreign reserves in December to underpin the currency as it whip-sawed from 18.4 to 10.25 against the dollar, rattling the major emerging market economy and sending inflation soaring.

This month, the lira has settled into a tight range https://tmsnrt.rs/3ACssz0
around 13.5 that several bankers described as a managed exchange rate or "dirty float", after the government took several steps Factbox: Turkey's steps to calm lira crisis, bolster FX reserves
to boost public confidence and official reserves.

Among the measures are central bank purchases of 25% of exporters' hard currency revenues and entire payments from foreigners into a citizenship-for-homes programme, as well as hard currency transfers into a new deposit-protection scheme.

(news)

Four bankers told Reuters the measures have beefed up central bank currency reserves, even as data suggested the bank continued to sell dollars, albeit at a smaller scale than in December when they were easier track.

The central bank's reserves were $600 million to $1 billion short of what would have been expected after last week's dollar-buying, according to three bankers' calculations of leading indicators and official data.

That suggests the dollar-selling interventions totalled $600 million to $1 billion, they said, citing central bank balance sheet and reserves data, as well as lenders' official deposits.

"The central bank not only buys some foreign currency that comes to the market but also its reserves sales are continuous, (resulting in) a forex regime directed by the state," said a senior banker who requested anonymity.

The central bank has not formally announced a market intervention since mid-December. It declined to comment on any recent interventions and the bankers' calculations.

Bank Governor Sahap Kavcioglu on Thursday downplayed claims of reserve sales and repeated no interventions took place on Dec. 20 when the lira mounted its all-time biggest daily rally.

He told a news conference that a drop in net foreign reserves to $7.55 billion in mid-January, a 20 year low, was due to market volatility and demand from state institutions.

(news)
 

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