World author Aktaş: Central bank revises its foreign currency



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Alaattin Aktas, the world journalist who argued that the Central Bank sells foreign currencies he did not own, suggested that CBT's net reserves were minimal.

World journalist Alaattin Aktas wrote that the net reserves of the Central Bank are at a negative level in the current corner of "Dangerous Foreign Exchange Operations."

The article by Alaattin Aktaş is as follows:

The Central Bank's net foreign exchange reserves, excluding gold and public deposits, fell to $ 10.5 billion on May 9. There was a reduction of $ 1.5 billion in just one day. What led to a net foreign exchange reserve of $ 12 billion on May 8, the day after, falling to $ 10.5 billion on May 9?

The Central Bank sells foreign currency in hands at state-owned banks, "Reuters writes for days. It was written that the foreign currency sold was $ 1 billion the first day and then the amount was $ 4.5 billion on a weekly basis.

& # 39; EXCHANGE EXCHANGE EXCHANGE! & # 39;

You sell ten billion dollars in net reserves "that you have sitting has El. Or you do an operation, like the exchange interventions of the Central Bank. Remember If the Central Bank entered the interbank market as a seller, the demand for Foreign currency would be broken.But it is different now.Now once, the exchange is not the National Bank, it sells some public banks.We are walking through the back door.

The second is pointing to an even more dangerous situation. Sold this currency is no longer the exchange rate of the Central Bank. Because the Central Bank canceled the exchange rate.

SALES FOR SALE & # 39;

Do not say how; the net foreign exchange reserves of the Central Bank.

The Central Bank's exchange rate was $ 10.5 billion on May 9.

In other words, the Central Bank does not need to increase the exchange rate to respond to the market in any way to maintain the necessary reserve deposits and the exchange of foreign currency through the use of foreign currency.

We know the official data at the end of March as the value of the swap currency. In this way, the total amount of foreign exchange is 13.1 billion dollars. Let's give the total value; 13 billion and 55 million dollars. This amount is 9 billion dollars figure from 589 million dollars up to a month.

There is also an amount of 3 billion of 466 million dollars with a term of four months to a year.

"Is that approximately $ 3.5 billion in foreign currency from Qatar?"

Even if Qatar's currency is at least 3.5 billion long-term. The term of 9.6 billion is very short and the Central Bank will pay this amount in a maximum of one month.

Meanwhile, $ 9.6 billion shows the situation at the end of March, but the recent number is estimated to be even higher.

Even if we take the $ 13.1 billion base at the end of March, the Central Bank's net foreign currency reserve is no longer negative.

Thus, the net reserve is redefined and unless the transition to the National Bank, theoretically, is not sold with coins, why not?

Hani Central Bank would not have a currency target, which would not be, so should not then, who is the reason for this sale?

'UNTIL WHERE'

Everyone knows that the main goal is to contain the increase in the exchange rate. The goal is to avoid an escalation of the exchange rate by at least June 23.

You can achieve the goal with these operations. There is a six-week period for this.

Foreign currency deposits are created by loans with swaps, deposits in foreign currency or by similar means, and this exchange is not increased by the issuance of the foreign exchange market, and even by a decline as in the last week.

Where is the home? Is it possible to sustain these operations for months?

This is the basic question of why the rate is on the rise.

It is not enough to answer that question, of course.

The answer is obvious, the important thing is to fulfill this requirement.

These day-saving operations will not only increase the problem even more.

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