Lira Parallel Rate Development

The Parallel rate started developing beginning of August

On November 9, 2019, the Parallel Lira reached 2000 LL/USD for the first time since the peg started in 1992. The rate retracted by November 11 due to the closure of banks; less available Liras means less demand for dollars. A re-bounce started on the 19th of November. The rate  started going up again and has crossed 2000LL for the second time on the 22nd of November and  reached a new high at 2100LL on November 26th . Another New High on November 28 of an average of 2,250LL. we now updated our vertical axis length. A small recovery end of November puts it at around 2,100 for the first weekend in December. Rate stabilizes at 2,000 towards the first half of December due to increased sellers of dollars, assuming to be a temporary de-hoarding. Rate overshoots to 2,500 then stabilizes at 2,200 before the syndicate of exchange houses commit to buying dollars at 2,000 (without specifying the ask price), and that's on 22 Jan, 2020. Syndicate fails to control the price and at exchange houses goes up to an average of 2,200 after a slight development of a third market.