Reactions to the Central Bank’s Statement

A statement came from the Central Bank (CBRT) about the dollar rate, which increased by 2 liras during the day, and the general situation of the markets. In the statement, it was stated that there was no commitment regarding the exchange rate level.

One of our biggest agenda items lately is the increase in the exchange rate and the depreciation of the TL. The dollar/TL parity, which opened with 11.35 today, By passing the 13 TL level broke another record. Then again, after the jump in the dollar, which fell below the 13 TL level, a statement came from the Central Bank of the Republic of Turkey.

In the incoming statement, companies and citizens were warned against ‘extremely volatile market conditions’. Also, in the statement “in foreign exchange markets unrealistic and completely far from economic fundamentals, unhealthy price formations are observed” was included.

The full text of the Central Bank’s statement is as follows:


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“The Central Bank of the Republic of Turkey has no commitment to the exchange rate level under the floating exchange rate regime. Exchange rates are determined by supply and demand conditions by free market dynamics. Under certain conditions, the Central Bank can only intervene in excessive volatility without seeking a permanent direction. Unhealthy price formations are observed, which are not economic and are completely far from economic fundamentals. in extremely volatile market conditions possible by trading at values ​​that are completely far from economic fundamentals. warning of loss This explanation was required upon necessity.

Here are the reactions from social media to the statement

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