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Countries Most at Risk From a Currency Crisis
What do the Turkish lira, the Iranian rial, the Russian ruble, the Indian rupee, the Argentine peso, the Chilean peso, the Chinese yuan and the South African rand all have in common? They’ve all declined steadily this year, and some have depreciated dramatically in the past two weeks alone. The Turkish lira, for example, dropped steeply late last week. At nearly $200 billion, almost 50 percent of Turkey’s gross external debt is denominated in dollars. (Turkey’s General Directorate of Public Finance, which, unlike BIS, accounts for financial borrowers, puts that figure at nearly 60 percent.) But this isn’t the ... (full story)
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- Aug 19, 2018 5:17am Aug 19, 2018 5:17am
- deveraux
- | Joined Aug 2018 | Status: Member | 1 Comment
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- Aug 19, 2018 12:03pm Aug 19, 2018 12:03pm
- UKBanter
- | Joined Mar 2017 | Status: Member | 938 Comments
The elites think we are stupid. They are in the main quite correct.