The effect of Turkey coup on currency

turkey coup

The turkey attempted coup in July 15th led the collapse of the currency , the Turkish lira against the US dollar fell nearly 5 percent, the biggest decline in eight years. The risk of exchange-rate depreciation is like a time bomb as worrying. At this point , Turkey is facing the same risk with Nigeria.According to Turkish Statistical Institute released data , China ranked the second largest trading partner of Turkey . Usually used in both the US dollar in international trade closing , now the Turkish lira fell against the dollar , foreign trade cost will be higher , due to lack of funds or the profit is too low, many goods will likely be retained or discarded in the harbor. Then shippers will also be faced with huge losses.


Changsha Langfeng Metallic material just ready to export the TiC cermet rod to the turkey in near future days, we are luck, since without adverse effect. Hope the exports enterprise be careful to deal with crises , according to the customer need for timely shipment and port of destination to contact the voyage , in order to avoid unnecessary costs loss!


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