After President Erdogan’s statements after the Cabinet Meeting this evening, the dollar started to decline. Momentarily, the dollar situation, where the activity continues, decreased to the level of 12.50 TL.
The dollar rate, which has been on the rise for the last few weeks, started to decline after the statements made by President Recep Tayyip Erdoğan this evening. In the statement he made after the Cabinet Meeting, Erdoğan touched upon many topics.
Breaking another historical record during the day, the dollar rate, which exceeded 18 TL, decreased to 17 TL for the first time after the explanations. Then, the dollar, which started a rapid decline, fell to the level of 12.50 momentarily. Although it is momentarily volatile, there has been a steady decline for the last hour.
What do economists say?
Pointing to the ‘currency-indexed TL deposit’ as the discourse that caused the decline after the statements, the experts made their first statements on the subject. Speaking to Sözcü, economist Dr. Murat Kubilay, “Current policies increase the demand for foreign currency and this situation causes both an increase in the price of foreign currency and an outflow of foreign currency to abroad and under the pillow. The first of these situations causes high inflation and the second causes the financial system to be shaken. summed up the situation.
Kubilay, regarding the aforementioned ‘currency indexed TL deposit’,Although it is not known exactly what kind of contract it will be; probably The additional return of foreign currency, if any, will be added on top of the TL deposit yield. (if there is a lump sum, it will not be deducted). Of course, this situation will leave a serious burden on the banks if the exchange rate continues to rise. This part will be undertaken by the Treasury.” used the phrases.
The statement also after the demand for dollars stopped like this It was stated that the rise in the exchange rate will also stop.