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rmax
Topic Author
Posts: 6006
Joined: December 8th, 2005, 9:31 am

TRL

August 10th, 2018, 9:12 am

Why is TRL upsets today causing people to talk about contagion and leading to a general sell-down in the market? I don't get it.
 
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ppauper
Posts: 69496
Joined: November 15th, 2001, 1:29 pm

Re: TRL

August 10th, 2018, 9:16 am

TRL being Turkish Lira rather than Total Request Live or Trilogy International Partners Inc (TSE: TRL)?
 
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rmax
Topic Author
Posts: 6006
Joined: December 8th, 2005, 9:31 am

Re: TRL

August 10th, 2018, 9:17 am

TRL being Turkish Lira rather than Total Request Live or Trilogy International Partners Inc (TSE: TRL)?
Indeed Turkish Lira. I haven't seen any news on the other things.
 
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rmax
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Joined: December 8th, 2005, 9:31 am

Re: TRL

August 10th, 2018, 9:54 am

 
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bearish
Posts: 3963
Joined: February 3rd, 2011, 2:19 pm

Re: TRL

August 10th, 2018, 10:53 am

It seems increasingly implausible that Turkish entities can afford to pay back non-TRL debt. Then the questions become who will be taking losses and how big? European banks?
 
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ISayMoo
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Joined: September 30th, 2015, 8:30 pm

Re: TRL

August 11th, 2018, 4:28 pm

I suppose. Unicredit was a player in that space.
 
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bearish
Posts: 3963
Joined: February 3rd, 2011, 2:19 pm

Re: TRL

August 11th, 2018, 6:33 pm

And BBVA it seems. And just to clean up the record, it should read TRY rather than TRL.
 
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ppauper
Posts: 69496
Joined: November 15th, 2001, 1:29 pm

Re: TRL

August 11th, 2018, 7:01 pm

Second Turkish lira (2005–present)
In December 2003, the Grand National Assembly of Turkey passed a law that allowed for redenomination by the removal of six zeros from the Turkish lira, and the creation of a new currency. It was introduced on 1 January 2005, replacing the previous Turkish lira (which remained valid in circulation until the end of 2005) at a rate of 1 second Turkish lira (ISO 4217 code "TRY") = 1,000,000 first Turkish lira (ISO 4217 code "TRL"). With the revaluation of the Turkish lira, the Romanian leu (also revalued in July 2005) briefly became the world's least valued currency unit. At the same time, the Government introduced two new banknotes called TRY100 and TRY50.
In the transition period between January 2005 and December 2008, the second Turkish lira was officially called Yeni Türk lirası ("New Turkish lira"). It was officially abbreviated "YTL" and subdivided into 100 new kuruş (yeni kuruş). Starting in January 2009, the "new" marking was removed from the second Turkish lira, its official name becoming just "Turkish lira" again, abbreviated "TL". All obverse sides of current banknotes have portraits of Mustafa Kemal Atatürk. Until 2016, the same held for the reverse sides of all current coins, but in 2016 one-lira coins were issued to commemorate the "martyrs and veterans" of the 2016 Turkish coup d'état attempt, the reverse sides of some of which depict hands holding up a Turkish flag while others show in stylized form a collection of five-pointed stars topped by a Turkish flag.
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