Dollar against Central Bank’s intervention: ‘Turkey is facing monetary delivery’
- Ozge Ozdemir
- bbc turkish
Turkish Lira has started to evaluate in the new week.
The USD/TL rate broke the record by surpassing the first exclusive 14.75 of the week.
Kurun’s son, the Central Bank of the Republic of Turkey (CBRT), intervened in 13 days.
But this intervention only somehow led to an example, a currency.
Economist Murat Gülkan says that the future of the exchange rate is the posts from a few possible politicians.
Nureddin Nebati, the Minister of Treasury and Finance, will benefit most from these statements.
Nebati emphasized that the journalist Sevilay Yılman from Habertürk should definitely be completed in order not to increase interest rates.
Nebati said, “We will not increase the interest rate. We will show that we can do this without increasing the interest rate. Just trust.”
According to Gülkan, Chairman of the Board of Istanbul investment investment firm OMG Capital Advisors, this MB’s mandate by law is the concept of “anticipate TC”:
“The decision-making authority has shifted from the Central Bank to the political layer, this stage is more important than politics.
Meetings of the Fed and the CBRT this week
This target, the CBRT’s interest rate choice this week is targeting this target over TL.
The CBRT Monetary Policy will be lifted from the top and announced to the interest rate on Thursday.
According to the Reuters news agency’s survey, the market situation is on average 100 basis points of interest rate cuts.
The CBRT has lowered the interest rate from 19 percent to 15 percent since September.
It has risen to 21.3 percent, which was burning in November.
On the other hand, the fact that the USA is facing the highest inflation rate of the last 39 years with 6.8 percent and the confrontation of the US Federal Reserve (Fed increases) creates interest rates that can cope.
This week’s ‘Fed’ can be explained in this direction, the strengthening of the dollar and the depreciation of the TL create an expectation.
‘Action is useless’
On the other hand, even if the CBRT intervenes by selling dollars, this step will not be close to the world.
Considering the examination of the CBRT’s currency reserves, the validity of this intervention is also questioned.
According to economist Murat Gülkan, it is difficult to foresee that the intervention of the CBRT “will not work”:
“A person holding a currency does not have a virtual value of that currency in time for fewer goods and services tomorrow, with history eg full.”
Gülkan, who thinks that such things will not work, says, “I will buy as much as you sell to the Central Bank”.
‘There is no futures trade with TL in the market’
According to Gülkan, this can be based on two fundamentals.
Permanence from accumulation is also confronting Turkey’s monetary test with being taken.
Although the global market is discussed with how much money a currency can be, it is a concept that generally deals with how much control over a currency.
He has opened it to Gülkan in a way that a fine will not be imposed in Turkey, for not being able to realize the means of using TL that a currency should fulfill.
Gülkan summarizes the situation with the words, “TL, as an intermediary, is in a position to make purchases, and futures with TL cannot be bought at the moment. If you go to the market, say you want to buy iron and steel, it will be bought heavily. This will be a control. There will be costs.”
UBS stopped publishing report for TL
This situation of Gülkan, start using yourself in the past around here.
Swiss economy UBS asked that they will not publish the relevant report from now on and not to receive reports about the report.
Bloomberg Analyst HT preferred the monetary policy of HT wholly or in the report by Kasımmann, and this further value was confirmed by the UBS Analyst.
Currently, foreigners’ TL swaps have declined by nearly 90 percent.
Foreigners continue to sell their TL in the clearing markets during the week of December 3, according to the calculations made by the Central Bank and the BRSA, there was a significant decrease of 2.9 quotes from foreigners’ TL swaps with Turkish banks.
Coding 13th final year exit 10.6 graduated.
In the week of March 19, the clearing position of foreigners was 24 billion dollars.
President Recep Tayyip Erdogan also made warm statements in his last term that Turkey will make their entrance whenever they want.
In this way, the economy will have a great future, as the first inspection of the AKP government will be reviewed with hot money.
However, allowing the TL to fall is a reason to drop out of graduation due to the crushing of confidence and inflation due to the currency’s disrepute.