The Central Bank of the Republic of Turkey announced the balance sheet of the second of the five interventions in the market. According to the statement, 504 million dollars were sold in the intervention made on 3 December.
The Central Bank of the Republic of Turkey intervened directly in the market 5 times in total against the foreign currency, which continued to increase in a way that could not be stopped by the decision to cut the interest rates from the beginning of September. As part of this intervention, the Central Bank had sold various amounts of dollars from Turkey’s reserves.
While there was no official statement about the size of the interventions within 14 days, Bloomberg announced the sizes after each intervention. The Central Bank shared the dimensions of the first response the other day. The size of the first response was more than what Bloomberg described. While the dimensions of other interventions are expected to be officially announced, today, A description of the second intervention was shared.
Sold to the market for $504 million on December 3
The Central Bank’s direct sales intervention in foreign currency on 3 December That’s 504 million dollars explained. Bloomberg shared this number as $400 million after the intervention on December 3. That is, the Central Bank 104 million above estimates dollars sold. When the second intervention is performed The dollar rate was 13.89 TL.
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The size of the 5 interventions made was $6.1 billion, according to Bloomberg data. However, this number has been updated with the Central Bank’s statements. Balance sheet of interventions according to Bloomberg data and official statements about the first two interventions, currently $6.4 billion around. In the official statements to be made, we can see that this number has increased or decreased.