TURKEY SEIZES 25% OF ALL FOREIGN CURRENCY FROM EXPORTERS – Crazy Policy Will Hurt Economy & Growth
In this video I provide a detailed review and assessment of Turkey’s new policy which requires all Export businesses to exchange 25% of their foreign currency for Turkish Lira.
Turkey has announced that ALL EXPORTERS must hand over 25% of their FOREIGN CURRENCY in exchange for TURKISH LIRA. No guarantee or protection scheme has been put in place to cover the exchange rate risk. This looks like a DISASTROUS policy as the vast majority of these exporters rely upon IMPORTS for their RAW MATERIALS and therefore need foreign currency for purchasing. Removing 25% of all foreign currency will reduce the purchasing ability of the exporters and will lead to a reduction in trade.
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4:09 Turkish Lira
10:03 Government Forex Order
12:46 Summary & Conclusion
#Global Financial Crisis
Video Duration: 00:15:24
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