Is There a Possibility to See the 18 TL Levels of the Dollar Again?

Although “Will the dollar rise again?” Although the main problem “Will TL lose value again?” Now we all know it should be. It is not easy to make predictions about the TL, which has been experiencing hard ups and downs recently, but there are some realistic possibilities.

This important question that is bothering us all, Economist and Typewriter1984 Editor-in-Chief Enes Özkan, replied for us:

“There is still a possibility that the dollar will see 18 TL, but it is a bit difficult of course. Because when it reaches that point, it will be necessary to take measures again.”

“Why is there a possibility of seeing 18 TL, let’s say this first; then let’s say what precautions they can take:

When we look at the size of the foreign currency accounts of real persons (currency-indexed deposits are not a product issued for legal entities) from 20 December until today almost no reduction, that is around 163 billion dollars.

When we look at all deposits, the size of the deposit accounts is approximately 260 billion dollars, according to the data on 17 December (this data is announced weekly). Today, it has increased a little more, to 261.5 billion.”

“But even if the currency in people’s deposits is not decreasing, the Reserve Bank’s reserves are melting.”

“Now, when we look at the week of December 24, from that day to today, the gross reserves are $110.8 billion. declined. Previously, it was 116.5 billion. Net reserves also decreased from 12 to 8.6.

In other words, our Central Bank has been selling money in a way since this product was released. On the other hand, there is also the sale of money from banks, of course. On this occasion, the dollar fell, but people still keep getting dollars, that’s for sure.”

“So what can they do in the future in the face of increasing foreign exchange?”

“Some of the people can go to this foreign currency indexed deposit, which in fact most do not, but maybe in the future. inflation indexed deposits, that is, they can issue a deposit to hedge against inflation. Because it is predicted that the inflation will exceed 40% in January-February.

In this case, the increase in foreign currency may not be that much, but if they issue deposits indexed to inflation, it will be may be more attractive to people. and something like that might turn into something like that in the future. I think that they will issue such a deposit in case the dollar reaches around 15 liras again.

If that doesn’t help much, just a little more. Strict measures may come. Maybe an extra tax can be put on the foreign exchange regime, that is, the foreign currency we have in our accounts.