Turkish Lira (TRY)

Lira Losses

Keep watching those emerging currencies, because this isn't going away. Turkey's lira fell again by as much as 11% this morning (that's over 40% this year so far) before the country's central bank moved to limit currency swaps. Asian stock markets fell too, as did South Africa's rand, the Russian ruble, and the Indian rupee as investors sought safe havens. Even the euro slipped. The European banks that have lent to Turkish businesses, such as Spain's BBVA and Italy's UniCredit, are central to contagion fears. Guardian
 
maxinger said:
Anyone getting TRY datafeed for Esignal charting software?
I'd like to know which particular exchange you subscribe to for the datafeed.

Also let me know which particular TRY cross pair you are trading.
I can see TRY.JPY pair in IB trading platform,
and in another platform, I can see Euro Lira pair but volume is practically zero.
More...

Let me answer my own question.

You can trade Lira futures with US$, Euro, GBP ... through
Budapest, ICE US, CME exchanges.

You can trade spot forex with euro, gbp yen, us$ etc etc etc
 
Lira Bounce

The Turkish lira popped 6% in early trading today, providing respite from what was looking like a freefall situation in recent days—the currency lost 13.8% of its value Friday and 6.3% yesterday. Other emerging-market currencies such as the South African rand and Mexican peso also rose slightly. But President Erdogan shouldn't rest easy. "Even if the political stand-off between Turkey and the U.S. somehow got resolved, the lira would only partially recover," Commerzbank analyst Antje Praefcke told the Financial Times. FT
 
Turkish Tariffs

Turkey has expanded its tariffs against imported American booze, cars, tobacco, cosmetics, rice and coal, in retaliation for the U.S.'s expanded tariffs on Turkish metals. After today's announcement, the lira slid but then rallied (which was also due to the country's banking regulator limiting swap transactions). Yesterday, President Erdogan continued to express defiance against the U.S. onslaught, urging a boycott of U.S. electronics such as the iPhone. Financial Times
 
Turkey and Qatar

However, the Turkish lira—the apparent collapse of which hit emerging markets hard—is rallying again today. The reason is Qatar's announcement of a $15 billion investment in Turkey, to help stabilize things. Remember that the smaller state is currently a pariah in its region, with neighbors such as Saudi Arabia, the UAE and Bahrain having cut off diplomatic relations and imposed a blockade, partly due to Qatar's friendliness towards Iran. Who stuck up for Qatar when that crisis hit last year? You guessed it: Turkey. New York Times
 
Contagion is less likely, as a result of a sharp decline in cross-border capital flows, which have dropped from $12.7 trillion in 2007 to $5.9 trillion last year. Europe led the retreat from international activity.
 
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