Alarm Bells Are Ringing for the Exchange Rate, and the Central Bank's Reserves Are Rapidly Dwindling.
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The total reserves of the Central Bank of the Republic of Turkey (TCMB) increased by approximately $4.2 billion in the one-week period ending October 9. According to calculations made by Matriks Haber based on TCMB data, on October 2...
The Turkish Central Bank's (TCMB) reserves have reversed course after six weeks of decline. Total reserves are estimated to have increased by $4.2 billion in one week, reaching $171.6 billion. The exact figures will be released on October 15th.
According to data from the Central Bank of the Republic of Turkey (TCMB), as of October 9, the liquidity surplus decreased by 149 billion TL compared to the previous day.
The net reserves of the Central Bank of the Republic of Turkey, excluding swaps, decreased from approximately $56 billion at the end of August to $37.9 billion as of October. Thus, there was a decrease of approximately $18 billion in net reserves excluding swaps in about a month. During the same period, the foreign currency deposits of domestic residents increased by approximately $7 billion. The acceleration of equity and bond sales by foreign …
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