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Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets.
The Turkish lira was incredibly volatile in 2021. After getting crushed and falling to record levels, it bounced back in the middle of December after the government announced an unconventional plan to encourage Turkish citizens to keep their money in lira rather than converting to dollars. But how does it work? And can it actually work over the long term? On this episode we speak with Lütfullah Bingöl, an economist at Albaraka Türk Katılım Bankası on how the program might actually work. He likens the program to a free lira put option offered to people who keep their money in the domestic currency.
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