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Turkey-Currency Recovery
Istanbul, Turkey - Aug 15, 2018 (CCTV - No access Chinese mainland)
1. Various of pedestrians
2. Exchange bureau
3. Various of screen showing exchange rates
4. SOUNDBITE (English) Dr. Sedat Aybar, professor, Economics and Finance Department, Istanbul Aydin University (partially overlaid with shot 5):
"Turkish government also sees this recent economic tension, or rather, the recent legal and political tension with economic consequences, as a part of broader American assault within the region, that includes Iran, Russia and other countries in the region. It's going to provide a kind of leverage to obtain some concrete results within the diplomatic and political sphere."
++SHOT OVERLAYING SOUNDBITE++
5. Dr. Sedat Aybar, professor, Economics and Finance Department of Istanbul Aydin University talking to reporter
++SHOT OVERLAYING SOUNDBITE++
6. Customer at exchange bureau
7. Staff member giving cash to customer
8. SOUNDBITE (English) Dr. Sedat Aybar, professor, Economics and Finance Department, Istanbul Aydin University (partially overlaid with shot 9):
"Using those measures, Turkish government was able to bring back the volatility, control volatility, and provide some stability to foreign exchange. That kind of stability is helped very much by the strong economic fundamentals of the country."
++SHOT OVERLAYING SOUNDBITE++
9. Aybar talking to reporter
++SHOT OVERLAYING SOUNDBITE++
10. Staff member counting cash at exchange bureau
11. Customer at exchange bureau
12. Various of exchange bureau
13. Various of pedestrians
The Turkish lira started to recover against the U.S. dollar on Wednesday night after the central bank's emergency measures and the president's decision to raise tariffs on U.S. import.
Turkey's President Tayyip Erdogan signed a decree to raise the tariffs on some U.S. imports on Wednesday.
According to the report, the decree raised the tariffs on alcohol by 140 percent, passenger cars by 120 percent and tobacco by 60 percent. Tariffs on cosmetics, rice and coal were also increased.
Earlier, U.S. President Donald Trump announced a doubling of tariffs on steel and aluminum from Turkey on Friday, bring them up to 50 percent and 20 percent respectively.
"Turkish government also sees this recent economic tension, or rather, the recent legal and political tension with economic consequences, as a part of broader American assault within the region, that includes Iran, Russia and other countries in the region. It's going to provide a kind of leverage to obtain some concrete results within the diplomatic and political sphere," said Dr. Sedat Aybar,a professor at Economics and Finance Department, Istanbul Aydin University.
Turkey's central bank announced a series of measures to protect its currency lira on Monday, including providing liquidity support to banks in need and limiting the short selling of the lira.
Turkey has also decided to strictly control the installment of domestic credit card shopping.
"Using those measures, Turkish government was able to bring back the volatility, control volatility, and provide some stability to foreign exchange. That kind of stability is helped very much by the strong economic fundamentals of the country," said Aybar.
With multiple measures, the lira has rallied sharply against the U.S. dollar by about 6 percent on Wednesday, reaching 5.85 to dollar at one point.
Turkey-Currency Recovery
Dateline : Aug 15, 2018
Location : Turkey
Duration : 2'02
Istanbul, Turkey - Aug 15, 2018 (CCTV - No access Chinese mainland)
1. Various of pedestrians
2. Exchange bureau
3. Various of screen showing exchange rates
4. SOUNDBITE (English) Dr. Sedat Aybar, professor, Economics and Finance Department, Istanbul Aydin University (partially overlaid with shot 5):
"Turkish government also sees this recent economic tension, or rather, the recent legal and political tension with economic consequences, as a part of broader American assault within the region, that includes Iran, Russia and other countries in the region. It's going to provide a kind of leverage to obtain some concrete results within the diplomatic and political sphere."
++SHOT OVERLAYING SOUNDBITE++
5. Dr. Sedat Aybar, professor, Economics and Finance Department of Istanbul Aydin University talking to reporter
++SHOT OVERLAYING SOUNDBITE++
6. Customer at exchange bureau
7. Staff member giving cash to customer
8. SOUNDBITE (English) Dr. Sedat Aybar, professor, Economics and Finance Department, Istanbul Aydin University (partially overlaid with shot 9):
"Using those measures, Turkish government was able to bring back the volatility, control volatility, and provide some stability to foreign exchange. That kind of stability is helped very much by the strong economic fundamentals of the country."
++SHOT OVERLAYING SOUNDBITE++
9. Aybar talking to reporter
++SHOT OVERLAYING SOUNDBITE++
10. Staff member counting cash at exchange bureau
11. Customer at exchange bureau
12. Various of exchange bureau
13. Various of pedestrians
The Turkish lira started to recover against the U.S. dollar on Wednesday night after the central bank's emergency measures and the president's decision to raise tariffs on U.S. import.
Turkey's President Tayyip Erdogan signed a decree to raise the tariffs on some U.S. imports on Wednesday.
According to the report, the decree raised the tariffs on alcohol by 140 percent, passenger cars by 120 percent and tobacco by 60 percent. Tariffs on cosmetics, rice and coal were also increased.
Earlier, U.S. President Donald Trump announced a doubling of tariffs on steel and aluminum from Turkey on Friday, bring them up to 50 percent and 20 percent respectively.
"Turkish government also sees this recent economic tension, or rather, the recent legal and political tension with economic consequences, as a part of broader American assault within the region, that includes Iran, Russia and other countries in the region. It's going to provide a kind of leverage to obtain some concrete results within the diplomatic and political sphere," said Dr. Sedat Aybar,a professor at Economics and Finance Department, Istanbul Aydin University.
Turkey's central bank announced a series of measures to protect its currency lira on Monday, including providing liquidity support to banks in need and limiting the short selling of the lira.
Turkey has also decided to strictly control the installment of domestic credit card shopping.
"Using those measures, Turkish government was able to bring back the volatility, control volatility, and provide some stability to foreign exchange. That kind of stability is helped very much by the strong economic fundamentals of the country," said Aybar.
With multiple measures, the lira has rallied sharply against the U.S. dollar by about 6 percent on Wednesday, reaching 5.85 to dollar at one point.
ID : 8088158
Published : 2018-08-16 15:39
Last Modified : 2018-08-17 16:39:00
Source : China Central Television (CCTV)
Restrictions : No access Chinese mainland
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