Foreign exchange markets in Turkey became the focus of the agenda again with the increasing volatility after the “Absolute Nullity Decision”. Due to the impact of global geopolitical developments and domestic political headlines, upward movements on the exchange rate attracted attention. Claims have come to the fore that foreign exchange sales have increased recently in order to limit the depreciation of the Turkish lira.
In this context, it is stated that approximately 9 to 10 billion dollars of liquidity is used for market intervention. Some analyzes based on US Treasury data indicate that there has been a significant decrease in Turkey’s assets in US bonds. The data in question includes evaluations that there is a decline from 16 billion dollars to 1.8 billion dollars. Fluctuations in foreign exchange rates traded in the markets are noteworthy.
According to the data announced in the morning, the dollar was traded at 45.72 TL, the euro was in the 53 TL band, and the pound sterling was close to 61 TL. Limited but directional changes were observed in exchange rate movements on a daily basis.
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