Turkish banks pay 55% interest.

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if I remember correctly it was 2016 when Venezuelan stock market grew 115% p.a. - wonder if there is a common denominator....
 
Turkey and Venezuela cannot be equated. The Turkish economy is getting stronger again. The wrong interest rate cuts have been abandoned. There is a new understanding of the economy.
 
How would you invest in banks like this and get 55% in return of your investment?
 
orangeye said:
orangeye said:
How would you invest in banks like this and get 55% in return of your investment?
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Click to expand...
By opening a 32-day time deposit account. I convert my deposits into Turkish lira and receive income at the end of each month. Most of the banks in Turkey are reliable international banks.
 
ack said:
ack said:
By opening a 32-day time deposit account. I convert my deposits into Turkish lira and receive income at the end of each month. Most of the banks in Turkey are reliable international banks.
Click to expand...
Click to expand...
Sell usd, buy turkish lira, make 50%.
Boom turkish lira down 50% because of inflation!
 
Actually, by a funny coincidence TRY lost exactly 55% to USD in the last year =) The rate was 18.66 lira to a dollar on Dec 16 2022, it's 29.13 today according to Google.
Exchange $100 to lira a year ago, get 1866 lira. Deposit it for 55%, get 2892 lira today. Exchange it back to USD...
Ta-da-dam...
$99.27 =)
 
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