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Major Currencies Crisis in August 2018

After US FED Policy Revision

By Fahad Murad

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 gone down in 2018.? They’ve all declined steadily this year, and some have depreciated dramatically in the past two weeks alone.

What these countries have in common is that they are all on a 13-country list released by the Bank of International Settlements. Together, they constitute 62 percent of all dollar-denominated debt held by emerging market economies. Turkey was one of the most vulnerable on the list, but there are four other countries facing similar challenges: Argentina, Mexico, Chile and Indonesia. Argentina’s peso is already in free fall. Following is the brief Discussion on Currencies which got more pressure in August.2018.


Emergency started days after US President Donald Trump reported by means of Twitter a multiplying of steel and aluminum duties on Turkey, as Washington pushed Ankara to discharge Outreaching Christian minister Andrew Brunson, who is being hung on fear based oppression charges.

Turkey also multiplied duties on a few imports from the US , for example, traveler autos, liquor and tobacco.

President Erdogan has blamed the lira’s fall on an “operation against Turkey” rather than prevailing economic conditions, calling it “deliberate attacks”.

What steps have been taken?

The CENTRAL bank promised to give banks “all the liquidity they require”, and the business service declared the initiation of $1.2bn for the Turkish modern generation.

the Beaurocracy suggest that its not possible to raise Interest Rates to support Lira..

Erdogan request the Nation to sell Off Dollar and Euro and increase the Market pressure to improve the Lira currency in Open Market.

Qatar Emir Sheikh Tamim bin Hamad Al Thani announced the $15bn investment into the country’s financial markets and banks, citing Turkey’s decision to “stand with the issues of the Muslim World”.

Crisis of Argentina Currency (Peso)

Speculators are progressively concerned Latin America’s third-biggest economy could before long default .Argentina’s government unexpectedly asked for the early release of a $50 billion loan from the International Monetary Fund (IMF).

The peso is down in excess of 45 percent against the greenback this year, intensifying previous feelings of trepidation over the nation’s debilitating economy while swelling is running at 25.4 percent

What steps have been taken?

On Thursday, the central bank said it was increasing the amount of reserves that banks have to hold, in a bid to tighten fiscal policy and shore up the currency. It hiked rates by 15 percentage points to 60 percent from 45 percent and promised not to lower them at least until December.

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