Why the Indian rupee is tumbling over Turkish turmoil

印度卢比缘何在土耳其里拉崩盘后暴跌？

NEW DELHI: Investors on Monday morning were in for a jolt as the equity and money markets slumped resulting in double trouble. The benchmark equity index BSE Sensex, which has risen more than 11 per cent since the turn of this year, slumped nearly 300 points in morning trade. In an even striking development, the rupee hit an all-time low of 69.62 against the US dollar. Both the gauges have recovered to some extent in mid-day trade.

新德里：周一上午，股市和货币市场暴跌，投资者遭受双重打击。自今年初以来，上涨逾11%的孟买指数在早盘交易中暴跌近300点。印度卢比兑美元汇率跌至69.62的历史新低，这一走势甚为引人注目。在午间交易中，这两个指数都有所回升。

However stretched the co-relation may seem to the common man, the bout of negative sentiment was caused due to a currency rout in Turkey.

然而，在普通民众看来，这似乎是一种延伸，负面情绪的爆发是由土耳其的货币崩盘引起的。

WHAT HAS GONE WRONG IN TURKEY?

Turkey's currency, the lira is in a free fall. The currency fell more than 12 per cent on Monday morning. It had slipped 16 per cent on Friday and by one-fifth in the entire last week's trading. The erosion however has been consistent, with the lira tumbling 50 per cent over the last 12 months.

土耳其出了什么问题?

土耳其货币里拉正在大幅下跌。周一上午，里拉汇率下跌逾12%。上周五，里拉汇率下跌16%，上周总共下跌20%。然而，这种下跌是持续的，在过去12个月里里拉下跌了50%。

WHY IS THE LIRA SLIPG?

Turkish economy has been in the doldrums for some time now, and it has worsened further due to a recent trigger.

里拉为何会下跌?

土耳其经济低迷已经有一段时间了，受最近汇率暴跌影响，经济进一步恶化。

The country's inflation rate touched 15.9 per cent in July. To put that in perspective, India's inflation for June stood at 5 per cent and it called for policy revision measures from the Reserve Bank of India (RBI) and other quarters already.

7月份，土耳其的通胀率达到15.9%。从这个角度看，印度6月份的通胀率为5%，并呼吁印度储备银行和其他机构采取政策修订措施

Turkey's debt scenario is in bad shape too. The current account deficit (CAD) of the country has now reached 5 per cent of its gross domestic product (GDP). CAD is the deficit that a country runs into, when it imports more than it exports goods and services. A greater CAD-to-GDP ratio is thus a burden on the economy. India's CAD is hovering around 2 per cent of its GDP -- under pressure from a fattening import bill due to costly crude oil.

土耳其的债务状况也很糟糕。目前该国的经常项目赤字(CAD)已达到其GDP的5%。当一个国家进口的商品和服务超过出口时，国家就会面临经常项目赤字。因此，经常项目赤字占GDP比例越大，对经济来说负担更大。在昂贵原油导致进口额不断增加所带来的压力下，印度的经常项目赤字正徘徊在GDP的2%左右。

On Friday though, the the country's finances received a body blow after US President Donald Trump announced he was doubling US import tariffs on Turkish steel and aluminium.

然而，上周五，美国总统唐纳德•特朗普宣布将土耳其钢铁和铝产品进口关税提高一倍，这令土耳其财政遭受沉重打击。

The slump in lira sparked fresh concerns in the global markets which has already been jittery with rising noise around a trade war. Indian investors have more reasons to worry as emerging economies ( including India) seem most vulnerable in face of the lira erosion.

全球市场本就已经对贸易战感到紧张不安，里拉暴跌又引发了全球市场的新担忧。新兴经济体(包括印度)在里拉贬值面前显得最为脆弱，印度投资者必然更为担忧。

Much like the rupee, India's BRICS ( an acronym for an association of five major emerging national economies - Brazil, Russia, India, , South Africa) counterparts felt the heat on Monday. The Russian ruble, already under pressure after the US hit Moscow with sanctions last week, lost two per cent, while the South African rand was battered seven per cent. 's yuan was somewhat immune, even though it fell by almost half a per cent.

就像卢比一样，周一“金砖四国”(BRICS，简称“金砖四国”，由巴西、俄罗斯、印度、和南非五大新兴经济体组成)也感受到了压力。在上周美国对莫斯科实施制裁后，俄罗斯卢布已经受到了压力，贬值2%，而南非兰特贬值7%。尽管人民币贬值了近0.5%，但并没有受到多大影响。

“’s economy is now slowing, emerging markets are now tightening monetary policy and the trade war is escalating. This could worsen investor sentiment towards emerging markets and also strengthens our view that emerging-market growth will weaken,” news agency Bloomberg quoted William Jackson, chief emerging-market economist for Capital Economics in London, as saying.

彭博社援引伦敦凯投宏观新兴市场首席经济学家威廉•杰克逊的话称：“经济正在放缓，新兴市场正在收紧货币政策，而且贸易战正在升级。这可能会削弱投资者对新兴市场的信心，也强化了我们对新兴市场增长将减弱的看法。”

印度时报读者评论：

来源：三泰虎 http://www.santaihu.com/45826.html  译者：Jessica.Wu

外文：https://timesofindia.indiatimes.com/business/india-business/why-the-indian-rupee-is-tumbling-over-turkish-turmoil/articleshow/65383624.cms

MRK

We must again see the video of Mr. Modi speach before 2014 towards exchange rate and start preparing to counter those words of Mr. Modi.

我们得再看看莫迪先生在2014年前就汇率问题发表讲话的视频，并着手准备反驳莫迪的言论。

Nationalist

Nehru is the reason!!! lol

尼赫鲁是罪魁祸首，哈哈！

Thanos Nation

If Modi is re-elected, he will make India another Turkey. Already, your bank fixed deposits are in danger due to loss making banks.

如果莫迪再次当选，他将使印度成为下一个土耳其。由于银行亏损，你的银行定期存款已经岌岌可危了。

Nick Singh

Turkey is strong supporter and ally of Pakis, looks like Paki’s bad luck is being passed around.

I really don’t care if Turkey ends up like bad economies like Venezuela

土耳其是巴基斯坦的坚定支持者和盟友，看来巴基斯坦的噩运正在四处传播。

我才不在乎土耳其最终会不会像委内瑞拉那样成为糟糕的经济体

Sarang Nath

Its almost 20% fall for Turkish Lira compared to Indian Rs 7% .

土耳其里拉下跌近20%，而印度卢比才下跌了7%。

Mr

Weak PM

Weak Currency.

软弱的总理

疲软的货币。

Murali

now blame on Turkish, BJP has nothing to do rupee

现在把责任推给土耳其人，印度人民党和卢比下跌毫无关系吗？

vihin

Few questions:

Has Turkey anytime in past impacted the rupee value?

Does India become weak that Turkey impacts INR?

Is this news planted to save Modi and his policies?

我有几个问题:

在过去的任何时候，土耳其对卢比造成过什么影响吗?

印度会因土耳其影响卢比而变弱吗?

这条新闻是为了拯救莫迪及其政策吗?

Ranjan Thimpu

Now Indian Rs. is no more worst performing currency of the Year as that tile is taken by Turkish Lira :O

如今，印度卢比不再是今年表现最差的货币了，因为这个头衔被土耳其里拉夺走了。

pappu singh

because PM is busy in elections all the time???

难道是因为总理总是忙于选举???

Jamyang Namgyal

What BJP has to say about it?

人民党对此有何看法？

PM the Pakoda Mantri

But Bhakt says another MASTERSTROKE from Modiji...

但是那帮人还是会在那喊这是莫迪的又一壮举

Ashok

rupee tumbling because of our PM non performance

卢比下跌是因为我们的总理不履行自己的承诺。

Del D

Modis policies are flop get mms back

莫迪的政策是失败的，让曼莫汉·辛格回来吧

Hum Hindustani

If 100 = 1$ then also my vote for Modijii..Best PM in World ever...

即使卢比兑美元跌到100，我也会投票给莫迪，因为他是有史以来最棒的总理。

Sham Shastry

Pappu and his brigade active in this forum are still blaming Modi govt for rupee slide calling him FEKU even though they have absolutely no knowledge about international trade and how money market works.

拉胡尔和他那些活跃在这上面的水军仍在指责是莫迪政府让卢比贬值的，称他为FEKU，尽管他们对国际贸易和货币市场是如何运作的根本一窍不通。

Great India Worst

Expect 1USD = INR 90 in an year if Feku baba elected again

如果莫迪再次当选，卢比兑美国在1年内会跌到90。