Just an update to all on the rabbit that Erdogan pulled out of the hat yesterday with the announcement on the new FX-linked deposit scheme (DCM). So under this scheme, depositors will be compensated for any FX depreciation that goes beyond the deposit rate on TRY deposits. In affect TRY depositors are being given a free call option on TRY deposits.
Going Cold Turkey?
Going Cold Turkey?
Going Cold Turkey?
Just an update to all on the rabbit that Erdogan pulled out of the hat yesterday with the announcement on the new FX-linked deposit scheme (DCM). So under this scheme, depositors will be compensated for any FX depreciation that goes beyond the deposit rate on TRY deposits. In affect TRY depositors are being given a free call option on TRY deposits.