Preliminary data show that the Central Bank made a historic foreign exchange purchase of $11 billion last week.
According to the preliminary estimate made on the analytical balance sheet data of the Central Bank of the Republic of Turkiye (CBRT), it shows that the Central Bank made a historical foreign exchange purchase of $4 billion on Tuesday last week and $11 billion in the whole week.
According to bankers’ calculations, the CBRT’s net reserves excluding swaps increased by $9.8 billion last week. The net reserve increase was calculated as $7 billion last week. Thus, the improvement in net reserves excluding swaps approached $27 billion in the last 5 weeks.
As a result of the steps taken by the Central Bank to accumulate foreign currency without disturbing the tightness in TL liquidity conditions, reserve gains continue to limit its impact on net international reserves.
FOREIGN INTEREST IS ON THE RISE
Traders point out that foreign interest has accelerated recently and are of the opinion that the process may also bring to the agenda the decision to ease London swap restrictions, which are getting closer to the border. Traders point out that foreign interest is most evident in the swap market, and that interest in the TL-denominated bond market is also increasing.
Source: Patronlardunyasi / Prepared by Irem Yildiz