Guys, I saw on the news yesterday that the dollar is almost at 33 liras, man. 😳 I do hold some foreign currency, but seeing this immediately reminded me of the grocer’s "what’s happening to us, Ibrahim" line. 😅 What do you think is causing this move? Is the central bank playing games, or is there some external wave coming in? What are you guys doing about the TL situation? At least I’ve started cutting back on milk and bread now. 🥛 What are your thoughts?
Did the dollar hit a record high or what! 💸 What's happening to the TL?
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Hey man, thanks. Before we put restrictions on milk and bread, we should probably figure out why the dollar is going crazy. I think it's because foreign investors are rushing to convert their money into foreign currency to protect their gains, which is why the lira is fluctuating like this.
The dollar hitting 33 is actually a combo of global and local factors that have shifted the game over the past few months, bro. Honestly, the most obvious trigger came from the Central Bank (TCMB). The MPC meeting last week kept rates lower than expected, sparking a loss of confidence in the markets. Investors, seeing inflation still out of control, kept rates low, accelerating the lira’s depreciation. Plus, there’s serious concern about foreign reserves—the CBRT’s net reserves are in the red, adding more pressure on the currency.
From the outside, the U.S. keeps its high-rate policy while global risk appetite dries up, pushing investors away from riskier assets (and the lira often gets lumped in there). So yeah, the lira’s caught in a wave it can’t escape. Cutting back on basics like milk and bread isn’t the smart move here—it’s not *that* dramatic, but honestly, we’re not used to this kind of rollercoaster with the lira. Normally, it’s better to focus on long-term strategies rather than short-term currency swings. Maybe locking in some fixed-income lira assets or diversifying into foreign-currency investments would make more sense.