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The Turkish Lira (TRY) is one of the most volatile currencies in the world. In recent years, due to high inflation, policy uncertainty, and geopolitical risks, this emerging market currency has faced long-term depreciation pressures, forming a unique characteristic of "high interest rates, high volatility, high risk." This article will delve into the economic roots of the Lira's depreciation, the patterns of exchange rate fluctuations, and how investors should respond to this market phenomenon.
Basic Overview of the Turkish Lira
Currency Fundamentals
The Turkish Lira (Türk Lirası) is the official currency of Turkey, with the international code TRY and symbol ₺. The subunit is the kuruş, with 1 Lira = 100 kuruş. Currently, the circulating banknotes include denominations of 5, 10, 20, 50, 100, and 200 Lira, while coins come in 1, 5, 10, 25, 50 kuruş, and 1 Lira. The Central Bank of the Republic of Turkey

What is OTC Over-The-Counter Trading?
OTC (Over The Counter) refers to trading activities conducted by investors outside of centralized markets. Compared to standardized trading on securities exchanges, OTC trading operates with greater flexibility—buyers and sellers negotiate prices directly, and trading counterparts include banks, brokerages, corporations, individual investors, and other diverse participants.
This type of market is also known as "over-the-counter trading," "desk trading," "over-the-counter market," and other names. Participants in OTC markets are mostly small and medium-sized enterprises or startups that do not qualify for listing on exchanges, but some companies that meet listing requirements also choose OTC trading to avoid the competitive pressure of public disclosure.
With the development of the internet and the expansion of international financial markets, the OTC market has rapidly grown. Investors' demand for trading convenience and accessibility continues to increase, making OTC trading gradually become a major part of the financial ecosystem.

On December 10, 2025, the Taiwanese dollar against the Japanese yen surged to 4.85. What to bring and how to exchange money to get the best deal has become a hot topic.
Instead of blindly going to the bank, it's better to understand the cost differences of these 4 exchange channels—using the same 50,000 TWD, choosing the wrong method could cost an extra 1,500 NT, while the right method could save up to 800 NT. We've summarized this once and for all to help you find your optimal currency exchange plan.
Why is exchanging yen now meaningful?
When it comes to foreign currencies, many people's first reaction is the yen. This is not only because Japan is fun, but more importantly, because the yen plays a hedging role in the financial market.
Travel perspective: Shopping in Tokyo, skiing in Hokkaido, vacation in Okinawa—most stores still prefer cash (credit card penetration rate is less than 60%), which is why many people exchange yen cash before going abroad. Purchasing agents and Japanese online shopping also often require direct yen payments.
Investment perspective: The yen is one of the world's three major safe-haven currencies (the others are the US dollar, Swiss franc, and...)

An Unexpected "Triple Kill" Situation
The market has recently staged a multi-act drama. Amidst the dual shocks of the Federal Reserve's hawkish signals intensifying and doubts about tech stock valuations, the traditionally separate markets of gold, US stocks, and cryptocurrencies have rarely experienced synchronized declines. This is not merely a technical correction but a signal of investors' expectations being re-priced.
According to the latest market data, Bitcoin has fallen from its high to around $94,050, and Ethereum has also adjusted accordingly, with its 24-hour gain narrowing to 2.29%. In the traditional markets, the S&P 500 and Dow Jones indices both broke below their 50-day moving averages, and gold prices have also come under pressure, weakening for several consecutive days.
Chain Reaction of Expectation Reversal
The source of this adjustment can be attributed to the combined effects of two major factors:
The subtle shift in the Federal Reserve's stance is the primary driver. Recently, Fed officials' remarks have leaned hawkish, and market expectations for a 25 basis point rate cut in December have dropped to 43%.

Many investors see a listed company's announcement of a cash increase and their first reaction is "It's over, the stock will be diluted." But the reality is much more complicated than that. Similarly, when issuing new shares to raise funds, Tesla's stock price actually rose, and TSMC also gained market attention. What is the underlying logic behind this?
Analyzing the logic of stock price adjustments during cash increases through two real cases
Tesla's Cash Increase Comeback (2020)
In 2020, Tesla announced the issuance of new shares worth approximately $2.75 billion, with a price of $767 per share. Theoretically, issuing new shares increases the number of circulating shares, and existing shareholders' equity per share should be diluted. But the opposite happened — the stock price not only did not fall but actually surged.
Why? Because the market was full of expectations for Tesla's purpose of raising funds. The capital was used for global expansion and new factory construction, and at that time, Tesla was extremely popular in the market, with investor confidence soaring. In their eyes

Rising interest rates but depreciating value, the market is playing a "psychological game"
Last Friday, Bank of Japan Governor Kazuo Ueda announced an increase in the policy interest rate to 0.75%—the first time since 1995 that it has reached this level. This should have triggered a sharp rise in the yen. But the reality was quite the opposite.
After the announcement, USD/JPY slid from the 155 range all the way down to 157.43. The yen not only failed to appreciate, but instead showed a typical "profit-taking and cashing out" pattern. Wall Street sent a clear signal through market voting: we bet you won't dare to raise interest rates again.
Why does the market dare to ignore hawkish signals?
Arbitrage trading still dominates
According to the latest statistics from Morgan Stanley, there are still about $500 billion in open yen carry trades worldwide. These funds borrow cheap yen to invest in US tech stocks, emerging markets, and cryptocurrencies.
Contradictorily, even as the yen interest rate rises to 0.

On November 24, U.S. stock futures showed an upward trend before the market opened, with all three major indices futures rising—Dow Jones futures up 0.09%, S&P 500 futures up 0.33%, and Nasdaq 100 futures up 0.52%. Among the leading tech stocks, Google pre-market rose by 2.57% to $307.34, hitting a new all-time high; Nvidia and Tesla increased by 0.49% and 1.83% respectively, indicating a clear bullish market sentiment.
Crude oil prices continued to decline, with peace expectations boosting supply outlooks
The energy market received negative news—potential de-escalation of the Russia-Ukraine conflict. The Trump administration is actively pushing for Ukraine to agree to end the conflict by the 27th; if a peace agreement is reached and sanctions on Russia are eased, the international oil market could face additional supply pressures. This expectation has already been reflected in crude oil price movements: WTI crude oil has fallen to $57.80 per barrel (down 0.29%), and Brent crude has sharply retreated to $61.6

The Birth of Oracles: Solving the Critical Weakness of Blockchain
The blockchain world faces a fundamental dilemma—the smart contracts on the chain cannot directly access real-world data. This seemingly simple problem is a core obstacle hindering the development of DeFi and other blockchain applications. Imagine an insurance smart contract based on weather data, or a futures trading system tracking commodity prices; all require securely and accurately writing real-world information onto the blockchain. It is this need that gave rise to oracles, a crucial infrastructure.
Chainlink was born out of this necessity, founded in 2017, becoming one of the first pioneers to solve the "on-chain/off-chain" data silo problem. It acts as a bridge, reliably transmitting real-world data to the blockchain network, enabling the thriving development of the entire DeFi ecosystem.
LINK Token Identity and Market Position
What is LINK? It is Chainli

Foreign currency investment has become a popular choice for novice investors in recent years. However, many people share the same question when starting out: How to buy foreign currency? How can I buy foreign currency to make a profit? This guide will delve into the core knowledge of forex trading, the three main purchasing methods, tips for choosing currencies, and risk management strategies to help you build your own forex investment plan from scratch.
How to buy foreign currency? Comparison of three purchasing methods
To understand how to buy foreign currency, you first need to know the three mainstream trading methods. Each method has different risk levels, profit potential, and operational difficulty. The choice depends on your investment goals and risk tolerance.
Method 1: Bank counter or online banking currency exchange
This is the most traditional and lowest-risk method. It involves directly exchanging foreign currency cash or conducting account transfers through a bank.
Applicable scenarios:
- Temporary need for overseas travel or business trips
- Wanting to allocate a small amount of foreign currency assets
- Zero tolerance for investment risk
Analysis of disadvantages

South African Rand: An Overlooked High-Risk Asset
In the foreign exchange market, most investors focus on mainstream currencies like the US dollar and euro, but the South African Rand (ZAR) attracts the attention of professional traders due to its extreme volatility and strong trend characteristics. As the legal tender issued by the South African Reserve Bank, the Rand has undergone multiple reforms since its inception in 1961, transitioning from a managed floating exchange rate system to a single exchange rate system.
But what makes this seemingly obscure asset special? Why do investors both have high expectations for it and remain cautious?
The True Face of the South African Rand: A Double-Edged Sword
There are three main features of the Rand worth noting:
First, it is a typical risk asset/currency. When global financial markets are stable, capital flows into high-yield countries, causing the Rand to appreciate; but once risk appetite declines, capital immediately withdraws, leading to a sell-off of the Rand. This "chasing gains and selling on dips" fate determines that its volatility far exceeds

From a long historical perspective, gold has always played an important role. Its unique physical properties—high density, strong ductility, excellent durability—make it not only a medium of exchange but also a favorite in jewelry and industry. But what truly changed the fate of gold was the monetary revolution of 1971.
From the Bretton Woods System to Free Floating: The Liberation of Gold
On August 15, 1971, U.S. President Richard Nixon announced the suspension of the dollar's convertibility into gold, ending the 27-year Bretton Woods system. Under this system, the price of gold was fixed at $35 per ounce, and the dollar served as a gold exchange certificate.
At the moment of decoupling, gold began its true market-oriented journey. Over the past 50 years, the price of gold has experienced four magnificent upward waves:
First wave (1970-1975): From $35 to $183, an increase of over 400%. Public confidence in the dollar wavered, compounded by the oil crisis, which pushed

Understanding currency symbols is crucial for financial transactions, as it helps investors efficiently identify different countries' currencies. The article provides a comparison table of major global currency symbols, input methods, and explanations of commonly confused symbols, emphasizing the importance of mastering this knowledge for forex trading.

The British Pound is the fourth most traded currency globally, attracting attention due to its high liquidity but significant volatility. In recent years, it has experienced multiple sharp fluctuations influenced by political uncertainty and U.S. interest rate policies. By 2025, the British Pound is expected to face opportunities driven by high interest rates and improving economic data, but market dynamics and policy changes should still be closely monitored.

In the foreign exchange market, time is money. Choosing the right trading time period can make every trade more effective; choosing the wrong time, even the best strategy may yield less than expected. This article will analyze the trading patterns of the global forex market in depth to help you find the most suitable trading rhythm.
Why is the forex market worth paying attention to?
The forex market attracts millions of investors worldwide with its high risk and high reward characteristics. As one of the largest trading markets globally, forex trading, with its low entry barriers and flexible operations, has become a common battleground for both retail and institutional investors.
In simple terms, forex trading involves exchanging one currency for another, and currency fluctuations are the source of profit. Due to the distribution of global time zones, the forex market has formed a unique 24-hour continuous trading mechanism (except during official weekends, when markets in Arab countries are still operating).
From 4 a.m. Beijing time on Monday, when the Marshall Islands open, to 4 a.m. on Saturday in the U.S.

Want to make a fortune in the foreign exchange market? The first step is to choose the right platform. But here’s the question—what reliable forex platforms are available in Taiwan? How can you find the trading partner that best suits you? This article provides an in-depth comparison of 7 legitimate forex brokers to help you make an easy choice.
Taiwan Forex Platform Comparison: Which of the 7 Brokers is the Best?
Forex trading depends on choosing a good platform; only then can your trades go smoothly. We have selected 7 well-known, regulated forex brokers in Taiwan, analyzing them in terms of leverage, trading costs, deposit and withdrawal convenience, and more.
Disclaimer: The platform descriptions below are for reference only. There are other excellent traders in the market. All information is compiled by editors; traders are advised to verify official website data themselves. Since platform rules may change, please refer to the official websites for the most accurate information.
| Forex Broker | Regulatory Authority | Tradable Assets | Leverage Range | Trading Costs |

Many newcomers to the stock market can get overwhelmed by a bunch of numbers, especially the bizarre terms on trading software—inner volume, outer volume, and the ratio of inner to outer volume. These seemingly complex indicators actually tell you one thing: who is more eager to execute a trade? The buyers or the sellers?
If you can interpret this signal, it means you have grasped the pulse of short-term capital flow.
Understanding from "who initiates"
The essence of stock transactions is simple: buyers want to lower the price, sellers want to raise it. Both sides tug at the price, and a trade occurs at a certain point.
The key question is—who is willing to make concessions?
When someone is eager to sell, the trade occurs at the bid price (matching the buyer’s order), and this volume is counted as inner volume. This indicates that the seller is proactive and eager to exit, signaling a bearish sentiment.
Conversely, when someone is eager to buy, the trade occurs at the ask price (buying at the asking price), and this volume is counted as outer volume. This indicates that the buyer is proactive and eager to enter the market.