Central Bank Sold $844 Million On December 1

The exchange rate, which has continued to increase since the beginning of September, finally came to the fore when the dollar exceeded 18 and the euro exceeded 20. While the exchange rate has decreased with the new “FX-Protected TL Time Deposit” application introduced in our country, the dollar is currently From the level of 12.40 TL, if euro From the level of 13.95 TL is being traded.

During the increase in the exchange rate, the Central Bank intervened in the market 5 times in total, especially when the dollar was about to exceed 14 TL. Although the dimensions of the first interventions on December 1 were not officially announced immediately after, Bloomberg did not reveal the extent of the interventions. 650 million dollars as explained. The Central Bank of the Republic of Turkey, on the other hand, officially announced the size of the first intervention today. The extent of the intervention on 1 December, It was way above what Bloomberg announced..

The Central Bank sold $844 million in its first response:

According to the statement made by the Central Bank of the Republic of Turkey, the dollar has seen 13.70 TL. The size of the intervention on 1 December was 844 million dollars. The reason for this intervention, which was the first direct intervention in the market after 7 years, was ‘unhealthy price formation in the exchange rates’, the same as the other interventions that followed it.

Although the Central Bank has intervened 5 times in total, and the size of these interventions is approximately $6.1 billion, according to Bloomberg, the dollar saw a historical peak of 18.40 the other day. Although the dollar experienced minor pullbacks for a short time after the interventions, Until the announcement of the Currency Protected TL Time Deposit application continued its rise.

Central Bank, the amount of sales in direct interventions. officially 15 days later explains.