currency – Muhasebe News https://www.muhasebenews.com Muhasebe News Fri, 08 Nov 2019 06:47:56 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 Turkish Lira: the most depreciated currency since the beginning of October https://www.muhasebenews.com/en/turkish-lira-the-most-depreciated-currency-since-the-beginning-of-october/ https://www.muhasebenews.com/en/turkish-lira-the-most-depreciated-currency-since-the-beginning-of-october/#respond Fri, 08 Nov 2019 08:00:48 +0000 https://www.muhasebenews.com/?p=70344 Turkish Lira: the most depreciated currency since the beginning of October

Turkish Lira has been the most depreciated currency among the major currencies in October.

MSCI Emerging Markets Foreign Exchange Index, showing the average index of currencies in emerging economies, has gained 1.3 percent against the dollar since the beginning of October, while the Turkish Lira has decreased by 5%.

The increase in currencies of emerging economies is mainly based on the partial trade agreement concluded between the United States and China. The threat of sanctions against Turkey led to decrease in Turkish Lira.

Investment banks express negative opinions about Turkish Lira. JP Morgan stated that the Turkish Lira and Russian Rouble are the most vulnerable currency to be exposed to political uncertainties. Goldman Sachs warned economists about geopolitical risks and economic policies, while Rabobank said that Turkish Lira might be on the verge of a new exchange rate crisis.

Source: Euronews (link: https://tr.euronews.com/2019/10/15/turk-lirasi-ekim-ayi-basindan-bu-yana-en-fazla-deger-kaybeden-para-birimi-oldu)
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]]> https://www.muhasebenews.com/en/turkish-lira-the-most-depreciated-currency-since-the-beginning-of-october/feed/ 0 DECISION ON MAKING CHANGE IN THE DECREE NUMBERED 32 REGARDING PROTECTING VALUE OF TURKISH CURRENCY https://www.muhasebenews.com/en/decision-on-making-change-in-the-decree-numbered-32-regarding-protecting-value-of-turkish-currency/ https://www.muhasebenews.com/en/decision-on-making-change-in-the-decree-numbered-32-regarding-protecting-value-of-turkish-currency/#respond Thu, 13 Sep 2018 10:13:51 +0000 https://www.muhasebenews.com/?p=34011  

DECISION ON MAKING CHANGE IN THE DECREE NUMBERED 32 REGARDING PROTECTING VALUE OF TURKISH CURRENCY

ARTICLE 1- Below article is added in the article numbered 4 of the decision of protection of the value of Turkish currency law; decree numbered 32 and published on 7/8 /1989.

“g) Inhabitants of Turkey are not allowed to agree upon in foreign currency or foreign currency indexed prices when they come to an agreement inter se on selling and purchasing property, property renting, including vehicle renting, leasing, except for the situations outside of the ministry’s decision.

ARTICLE 2- the Provisional article is adding the same decree.
“Provisional Article 8- Within thirty days beginning from this decree’s 4th article, ((g) decree) coming into force, amounts that the parties came to an agreement on foreign currency in the agreements mentioned in this decree, are determined by the new law as Turkish currency, (lira) except for the situations outside of the ministry’s decision. “

ARTICLE 3- This decree comes into force on its date of issue.

ARTICLE 4- This decree is executed by the ministry of finance and the department of treasury.

Source: The Protection of the value of Turkish Currency
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/decision-on-making-change-in-the-decree-numbered-32-regarding-protecting-value-of-turkish-currency/feed/ 0 India Moves to Use National Currency in Oil Trade With Iran https://www.muhasebenews.com/en/india-moves-to-use-national-currency-in-oil-trade-with-iran/ https://www.muhasebenews.com/en/india-moves-to-use-national-currency-in-oil-trade-with-iran/#respond Mon, 25 Jun 2018 10:41:56 +0000 https://www.muhasebenews.com/?p=30533 Indian refineries bought a record 27.2 million tons of Iranian crude oil in the past financial year, which wrapped up in March 2018.

India plans to make some oil payments to Iran in rupees in a bid to avoid US economic pressure on Tehran, according to several Indian government sources. Another source said that India’s Central Bank is yet to make a final decision on returning to the rupee payments for Iranian oil.

During a meeting with his Iranian counterpart, Javad Zarif, late last month, Indian Foreign Minister Sushma Swaraj pointed out that his country would ignore US trade sanctions against Iran.

“India will comply with UN sanctions and not any country-specific sanctions,” he stressed.

In May 2018, President Donald Trump announced Washington’s withdrawal from the 2015 Iran nuclear deal and ordered the re-imposition of US anti-Iranian sanctions, including those related to the oil sector, will be effective as of November 4.

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Source: NY Times
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult with an expert before taking a decision based on the information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/india-moves-to-use-national-currency-in-oil-trade-with-iran/feed/ 0 How Much Money is there in Turkish Banks? https://www.muhasebenews.com/en/how-much-money-is-there-in-turkish-banks/ https://www.muhasebenews.com/en/how-much-money-is-there-in-turkish-banks/#respond Fri, 16 Feb 2018 13:05:17 +0000 https://www.muhasebenews.com/?p=26793 How Much Money is there in Turkish Banks?

1-How much is the total deposit account on Turkish Banks?
There is 894 billion 612 million 769 thousand Turkish lira deposit account amount in Turkish Banks.

2-How much is the currency deposit?
There is 759 billion 305 million 254 thousand Turkish lira currency deposit on Turkish banks’ accounts.
These amounts are attained on 8th December 2017.

4- What was the situation last year?
 There was 797 billion 242 million 076 thousand Turkish lira in Turkish banks on 9th December 2017. In the same period, there was 604 billion, 649 million, 556 Turkish currency deposits on the bank accounts.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/how-much-money-is-there-in-turkish-banks/feed/ 0 Is Bitcoin Digital Gold https://www.muhasebenews.com/en/is-bitcoin-digital-gold/ https://www.muhasebenews.com/en/is-bitcoin-digital-gold/#respond Mon, 18 Dec 2017 11:30:48 +0000 https://www.muhasebenews.com/?p=25223 According to CNBC, Wall Street strategist Tom Lee Bitcoin is “digital gold” for millennials. He says that the cryptocurrency could achieve the $100,000.

Bitcoin surpassed $10,000 as seen on CoinDesk. Lee told Squawk Box: We think over the next 10 years, this new generation of millennials are going to view trust as a replacement for gold. So, bitcoin is essentially digital gold for another generation. If it gets “5 percent of just the gold market, it’s $25,000. But 5 percent seems like an awfully small number. Let’s say it’s 10 or 15. Then bitcoin could easily be in the $100,000 range.”

Lee raised his mid-2018 price target for bitcoin to $11,500. Bitcoin is up more than 130 percent over the last three months. Earlier this week, former Fortress hedge fund manager Michael Novogratz predicted on CNBC that bitcoin could “easily” be at $40,000 at the end of 2018.

Source: cnbc

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/is-bitcoin-digital-gold/feed/ 0 What is Blockchain? https://www.muhasebenews.com/en/what-is-blockchain/ https://www.muhasebenews.com/en/what-is-blockchain/#respond Tue, 05 Dec 2017 12:37:19 +0000 https://www.muhasebenews.com/?p=24687 From Blockchain.com:

“Blockchain is the world’s leading software platform for digital assets. Offering the largest production blockchain platform in the world, we are using new technology to build a radically better financial system. Our software has powered over 100M transactions and empowered users in 140 countries across the globe to transact quickly and without costly intermediaries. We also offer tools for developers and real time transaction data for users to analyze the burgeoning digital economy.”

“Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.” Arjun Kharpal, CNBC

Blockchain was founded in 2011 and now has users in 140 countries. Its last funding round came in 2014 when it raised $30.5 million. Other investors in its latest round include Nokota Management, Digital Currency Group and existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Richard Branson.

  • The digital asset, bitcoin, is used like other assets in exchange for goods and services. Unlike traditional currencies and assets, bitcoin is easily portable, divisible, and irreversible.
  • Bitcoin increases system efficiency and enables the provision of financial services at a drastically lower cost, giving users more power and freedom.
  • Keeping your bitcoin safe in a non-custodial wallet (like Blockchain’s) means there is no entity that can lock you out of your funds
  • It’s globally inclusive — bitcoin is enabling millions across the globe to transact, save, and hedge their way to a better financial future

The Process:

  1. Create a blockchain wallet
  2. Set up an exchange account
  3. Start buying bitcoin
  4. Store bitcoin in your wallet
  5. Checking your balance

After you follow the steps in the site, having created your blockchain wallet and exchange account you can start buying and exchanging bitcoin or ether, another digital currency.

You will always be able to see your bitcoin & ether balances at the top of your wallet and on your dashboard.

SENDING & RECEIVING AND USING YOUR TRANSACTION FEED

To send bitcoin or ether from your wallet, you need the recipient’s receive address or QR code. Your home screen will display your most recent transactions.

Source: https://www.blockchain.com

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

 

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