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Apple stopped sales in Turkey after the lira crashed 15% in a day

reuters.com

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Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#41

Post by xwdv »

aerovistae wrote: post #36
jeffbee wrote: post #6

The Turkish lira has been plunging vs. the US dollar for 14 years straight. It has fallen by 90% in dollar terms. All foreign retailers must be constantly readjusting prices, right?

So does that mean it would be profitable to short the lira? Not a forex trader but it's where my mind went.

No. There is very little downside left to profit on at this point. The time to short has already passed, there’s better opportunities out there. Be bullish about something.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#42

Post by rvense »

dreamcompiler wrote: post #26
jeffbee wrote: post #6

The Turkish lira has been plunging vs. the US dollar for 14 years straight. It has fallen by 90% in dollar terms. All foreign retailers must be constantly readjusting prices, right?

I still have a 500,000 TL note from Turkey's hyperinflation days in the early 2000s. Back then it was just about enough to buy a loaf of bread. Looks like those days are coming back.

I have a 50 lira bill from 2011 - I think was it about 20 euros at the time? Should have exchanged it sooner.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#43

Post by yusucan »

csomar wrote: post #28
blfr wrote: post #8

Earlier quoted context omitted.

How did Turkey find its way to Eastern Europe?

Half of their "capital" is in Europe. They used to own some of the E.E. countries before the Ottoman fell.

No it's not. Istanbul is not the capital, Ankara is.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#45

Post by Jabbles »

aerovistae wrote: post #36
jeffbee wrote: post #6

The Turkish lira has been plunging vs. the US dollar for 14 years straight. It has fallen by 90% in dollar terms. All foreign retailers must be constantly readjusting prices, right?

So does that mean it would be profitable to short the lira? Not a forex trader but it's where my mind went.

Shorting involves finding someone willing to bet the opposite way. If you think a pattern is obvious, other people will too, and that will make options expensive, reducing your gains.

(In general.)

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#46

Post by rvense »

pmontra wrote: post #29
bserge wrote: post #3

Why don't they just sell in Euro/USD? That's what people did a few decades ago a bit further north, when the local currency wasn't trusted (even if it was rather stable). But yeah, inflation in Eastern Europe is pretty bad, and if you voted for a bunch of dumb assholes who don't care about you or the nation, you're multifucked.

Is like to hear about this from somebody living in Turkey but maybe shop prices must be in Lira. I don't even know if in my country it's mandatory for physical shops to display prices in Euro or if a price could be only in Dollars.

Certainly in my country you have to accept our own currency. Cash is mandatory too, although that's just a matter of a years.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#47

Post by qsort »

Zenst wrote: post #27

Question is - if/when the lira rises 15% (#1), will Apple respond as timely to adjust prices cheaper? Mindful that companies are quick to point to a reason to increase prices yet when that same reason goes the other way, not so quick (if ever) to adjust down. Is Black Friday sales a thing in Turkey? As can imagine many who would of banked to buy then, only to get hit with the polar opposite in this instance. #1 - (ma…

I mean, it's not Apple's fault Turkey's currency is unstable. Why would it be their responsibility to take the exchange risk? I wouldn't be surprised if in response to future events like this they stopped accepting payments denominated in TRY altogether.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#49

Post by jeffbee »

aerovistae wrote: post #36
jeffbee wrote: post #6

The Turkish lira has been plunging vs. the US dollar for 14 years straight. It has fallen by 90% in dollar terms. All foreign retailers must be constantly readjusting prices, right?

So does that mean it would be profitable to short the lira? Not a forex trader but it's where my mind went.

Maybe? If you had bought USD/TRY two years ago you would have doubled your money by now. But the same is true if you had bought shares of Google. Nobody can predict the future.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#50

Post by crate_barre »

aerovistae wrote: post #36
jeffbee wrote: post #6

The Turkish lira has been plunging vs. the US dollar for 14 years straight. It has fallen by 90% in dollar terms. All foreign retailers must be constantly readjusting prices, right?

So does that mean it would be profitable to short the lira? Not a forex trader but it's where my mind went.

You could look to short as Turkish ETF ($TUR) in the interim.
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