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Detail

Turkey Ditches the Unstable Turkish Lira and Opt For Cryptocurrencies

Turkish Lira weakened 44% in the past year, and the currency crisis led to 19-year high inflation of 36% in December 2021. The lira has lost 40% of its value against the...
Turkey Ditches the Unstable Turkish Lira and Opt For Cryptocurrencies Turkey Ditches the Unstable Turkish Lira and Opt For Cryptocurrencies

Turkish Lira weakened 44% in the past year, and the currency crisis led to 19-year high inflation of 36% in December 2021. The lira has lost 40% of its value against the dollar since September.

A spike in living costs uses up the whole earnings of a household and causes many citizens in poverty to go in the streets and protest against the government.

For a long time, Turks put their money into U.S. dollars, euros, or gold, yet the rise of crypto-assets in the past few years showed a new way to invest and stay in charge of earned money.

According to WSJ, in Istanbul, the largest city in Turkey, advertisements for crypto exchanges have begun appearing on public transport, billboards, and in one of the city’s airports. Even shops that sell Bitcoin have popped up by the side of foreign currency and gold exchange places.

Turks have been very fond of the stablecoin tether, which has a value similar to the dollar. The Turkish lira has been the second most traded fiat currency after the U.S. dollar for tether.

“The senseless policies regarding rates, diminishing trust for published statistics regarding inflation and political decisions…made cryptos a safe haven, even though cryptos are rather risky and volatile financial assets,” said Kağan Şenay, a 27-year-old trader from Turkey.

On the Flipside

  • Cryptocurrencies have been growing in popularity in countries where citizens distrust governments on a large scale. This includes Lebanon, Venezuela, and many African countries.

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27-01-2022 04:03:12 (UTC+7)

EUR/USD

1.1199

-0.0038 (-0.34%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

EUR/USD

1.1199

-0.0038 (-0.34%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

GBP/USD

1.3432

-0.0029 (-0.22%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

USD/JPY

114.96

+0.32 (+0.28%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (5)

AUD/USD

0.7093

-0.0021 (-0.30%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

USD/CAD

1.2675

+0.0010 (+0.08%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

EUR/JPY

128.74

-0.07 (-0.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

EUR/CHF

1.0380

-0.0002 (-0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

Gold Futures

1,813.10

-16.60 (-0.91%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (0)

Silver Futures

23.297

-0.510 (-2.14%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Copper Futures

4.4688

-0.0462 (-1.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Crude Oil WTI Futures

87.13

-0.22 (-0.25%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (1)

Sell (7)

Brent Oil Futures

88.48

-0.26 (-0.29%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (9)

Natural Gas Futures

4.087

+0.051 (+1.26%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

US Coffee C Futures

238.13

+0.23 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Euro Stoxx 50

4,130.35

-34.25 (-0.82%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

S&P 500

4,349.93

-6.52 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (11)

Sell (0)

DAX

15,329.62

-129.77 (-0.84%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (0)

FTSE 100

7,482.01

+12.23 (+0.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Hang Seng

23,807.00

-482.90 (-1.99%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

US Small Cap 2000

1,971.72

-32.32 (-1.61%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (4)

IBEX 35

8,623.50

+3.30 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

BASF SE NA O.N.

67.940

+0.630 (+0.94%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Bayer AG NA

51.98

+0.43 (+0.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Allianz SE VNA O.N.

225.60

+0.80 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Adidas AG

241.31

-1.89 (-0.78%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

Deutsche Lufthansa AG

7.045

-0.022 (-0.31%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Siemens AG Class N

138.81

-2.43 (-1.72%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

Deutsche Bank AG

11.985

+0.565 (+4.95%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

 EUR/USD1.1199↑ Buy
 GBP/USD1.3432↑ Buy
 USD/JPY114.96Neutral
 AUD/USD0.7093Buy
 USD/CAD1.2675↑ Sell
 EUR/JPY128.74↑ Buy
 EUR/CHF1.0380↑ Buy
 Gold1,813.10↑ Buy
 Silver23.297↑ Buy
 Copper4.4688↑ Buy
 Crude Oil WTI87.13Neutral
 Brent Oil88.48↑ Sell
 Natural Gas4.087Buy
 US Coffee C238.13↑ Sell
 Euro Stoxx 504,130.35↑ Buy
 S&P 5004,349.93↑ Buy
 DAX15,329.62Buy
 FTSE 1007,482.01↑ Buy
 Hang Seng23,807.00↑ Buy
 Small Cap 20001,971.72Neutral
 IBEX 358,623.50↑ Buy
 BASF67.940↑ Buy
 Bayer51.98↑ Buy
 Allianz225.60↑ Buy
 Adidas241.31↑ Buy
 Lufthansa7.045↑ Buy
 Siemens AG138.81↑ Buy
 Deutsche Bank AG11.985↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,195/ 6,235
(5/ -5) # 1,256
SJC HCM6,190/ 6,250
(10/ 5) # 1,272
SJC Hanoi6,190/ 6,252
(10/ 5) # 1,274
SJC Danang6,190/ 6,252
(10/ 5) # 1,274
SJC Nhatrang6,190/ 6,252
(10/ 5) # 1,274
SJC Cantho6,190/ 6,252
(10/ 5) # 1,274
Cập nhật 27-01-2022 04:03:14
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,813.96-8.2-0.45%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
ↂ Giá dầu thô thế giới
WTI$86.54+0.340.39%
Brent$88.37+0.160.18%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.470,0022.780,00
EUR24.775,4326.164,36
GBP29.663,4530.930,27
JPY191,46202,68
KRW16,2819,84
Cập nhật lúc 15:56:37 27/01/2022
Xem bảng tỷ giá hối đoái
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