Balance Sheet of Central Bank’s Intervention to Increase in Exchange Rate

The ‘fluctuation’ in the exchange rate in our country in recent months has caused the dollar to break records one after the other, to experience an increase in value of 40-50 cents in just minutes, 1.5 – 2 TL increase in hours It got us used to it. The dollar, which was 8.28 TL on September 1, that is, only 80 days ago, is around 17.50 TL as of the writing of this article today.

The main reason for the increase in the dollar rate was the interest rate decisions made by the Central Bank of the Republic of Turkey. Fighting against the increasing inflation with the epidemic by increasing interest Turkey, the only country in the world to cut interest ratesAt the same time, it intervened in the market in the form of direct foreign exchange sales due to ‘unhealthy price formations’ in the exchange rate. From the treasury of the Republic of Turkey A total of 5 interventions performed in 17 days its incredible size was revealed today.

In total, approximately $6.1 billion was sold to the market

According to the news of Bloomberg, the Central Bank of the Republic of Turkey in order to prevent the exchange rate TL equivalent of the size of the interventions and the exchange rate at the time of the intervention. it was as follows:

• 1 December: 650 million dollars (13.70 TL – 8 billion 900 thousand TL)
• 3 December: 400 million dollars (13.89 TL – 5 billion 550 thousand TL)
• December 10: 500 million dollars (13.95 TL – 6 billion 975 thousand TL)
• December 13: 2.5 billion dollars (14.61 TL – 36 billion 525 million TL)
• December 17: 2 billion dollars (17 TL – 34 billion TL)

Total: Approximately 6.1 billion dollars (total 106 billion 750 million TL at current exchange rate -17.50 TL-)

Despite the interventions in the market, the dollar is today As of 11.30, it is 17.53 TL is being traded. Especially the last two interventions did not have much impact on the dollar market, which we watched live.